Idex moves closer to biometric payment card issuance on 3 continents in 2023
Accomplish Financial, which provides payment solutions to fintechs and banks in the UK, Europe and North America, has been revealed as the UK-based issuer recently selecting Idex Biometrics to make its biometric payment cards.
The cards will be made with Idex’ TrustedBio Turnkey solution, including the SLC38 chip from Infineon Technologies.
An expected launch of the cards from Accomplish in Q1 2023 was announced by Idex at the beginning of November.
Accomplish Financial CEO Guy Raymond El Khoury says that with rising limits for contactless payments, the company has identified biometric payment cards as a big opportunity to improve customer experiences.
“Idex Biometrics is providing smoother customer payment experiences, and Accomplish Financial and Idex Biometrics are sharing the same mission to make consumers’ financial lives easier,” says Idex Biometrics CCO Catharina Eklof. “Accomplish is an agile partner, and we are delighted to jointly accelerate the biometric payment market in the UK and across Europe, providing banks and fintechs with robust and easy go-to-market solutions.”
Manufacturer deal sets up biometric cards in India
Indian smart card manufacturer M-Tech Innovations and Idex have partnered to bring biometric payment cards to the domestic market in 2023.
The partners plan to co-develop solutions for registration that are tailored to the Indian market. India is a fast-growing market for payment cards, with nearly 1 billion issued each year, according to the announcement.
Idex CCO Eklof points out that “Consumers in India are used to biometric authentication via the Aadhaar biometric program.”
Like the card being issued by Accomplish, the cards are based on the TrustedBio biometric sensor module and Infineon chips.
“The booming smart card market in India represents an excellent opportunity for the biometric card solution from Idex Biometrics,” says VM Gandhi, chairman of M-Tech. “We see a strong and increasing demand for biometric smart cards. Adapting the onboarding and registration processes to the Indian market will be critical, and we are confident in Idex Biometrics technology leadership and innovation power to accelerate market adoption for the benefit of consumers across India.”