IDEX Biometrics ready to talk biometric card technology at Money20/20 Asia
IDEX Biometrics announced today that Sales Director Hunter Hu will be attending the Money20/20 Asia event next week in Singapore and will be available to demonstrate its biometric fingerprint technologies being used within a dual-interface smart card for payments.
IDEX is working towards the mass deployment of its sensors on biometric payment cards, which CEO Stan Swearingen recently told Biometric Update will likely begin this year. The company says it is ideally positioned to capture a large share of the biometric card market that Goode Intelligence forecasts will surpass 575 million units by 2023.
In January the Norwegian biometrics firm completed a private placement of US$25 million which the company will use to meet capital and operational requirements, and expects to carry it to profitability as biometric payment cards are adopted.
2018 revenues of IDEX Biometrics were down from a year earlier, as the company transitions from primarily serving the smartphone market to a greater emphasis on cards and embedded products.