Volume production order for biometric SoC received by Idex Biometrics for fingerprint payment cards
A Tier 1 card manufacturer has placed a volume production order for biometric fingerprint sensors from Idex Biometrics for delivery this calendar year, the company has announced.
The first volume order for Idex’ TrustedBio sensors for contactless biometric payment cards marks the next step in an established partnership. The TrustedBio biometric-system-on-chip, which significantly lowers manufacturing costs for the cards, was selected by an unnamed global Tier 1 partner in February. The sensors will be used in a next-generation biometric payment card, which will be available to financial institutions before the end of 2020, according to the announcement.
The partnership has included successful pilots and certifications with previous generations of fingerprint sensor products from Idex.
“We are delighted to have received our first purchase order for TrustedBio fingerprint sensors,” states Vince Graziani, CEO of Idex Biometrics, in the announcement. “Our TrustedBio fingerprint sensors and biometric solutions offer very compelling cost and performance benefits, to both card manufacturers and card issuers. This marks the beginning of TrustedBio commercialization. We expect these biometric payment cards to be deployed, in large volumes, by multiple card issuers.”
Idex began shipping TrustedBio products last month, and Graziani has argued that the tipping point for biometric payment cards is here, with adoption set to ramp up in 2021.
Goode Intelligence forecast prior to the pandemic that 579 million biometric payment cards will be in use by 2023.