Biometric payment card with Idex fingerprint technology granted China UnionPay approval
A biometric payment card featuring a fingerprint sensor and distributed matcher from Idex Biometrics has been granted a Letter of Approval (LOA) by China UnionPay, acknowledging the card’s compliance to all relevant requirements.
The card will be interoperable with ATMs and point-of-sale (POS) devices around the world, and its durability, reliability, and security are also approved.
Idex Biometrics recently explained details about the UnionPay certification and LOA process following the approval of a Feitian card with its fingerprint technology.
“The importance of certification and LOA cannot be overstated. Meeting stringent specifications and standards to ensure global interoperability is key in defining the growth trajectory of the biometric payment cards market,” says Phil Sealy, research director for Digital Security at ABI Research, in the announcement. “This is a significant market milestone, not just in terms of application security and performance requirements, but the fact that certification and LOA must be met in order for the biometric card to move into the mass market issuance phase.”
“CUP is the largest payment network in the world, supporting more than half of all cards issued on the global brand networks. This LOA is a critical step to driving mass adoption in China. IDEX and our partners are now approved for deployment in the world’s largest market for payment cards,” comments Idex Biometrics CEO Vince Graziani.
Idex Biometrics said during a recent earnings report that it intends to ramp shipments for a production order of fingerprint technology during the present quarter.