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Idex partners to bring biometric payment cards to market in Eastern Europe and Asia

Idex partners to bring biometric payment cards to market in Eastern Europe and Asia

In recent announcements, Idex shared that it is partnering with an Azerbaijani bank and collaborating with Goldpac Group to expand the reach of biometric payment cards with its hardware and software in Eastern Europe and Asia.

Idex partners with leading Azerbaijani bank to tap into Eastern Europe market

Idex has announced it is partnering with a leading Azerbaijani bank to bring contactless biometric payment cards with its fingerprint hardware and software to Eastern Europe. The bank operates across Azerbaijan and collaborates with international banks and institutions.

The Azerbaijan payment market reached a market size of $6.3 billion in 2021 and is projected to grow 28 percent by 2025.

”Idex Biometrics is thrilled to bring biometric payments cards to the Azerbaijani market, reasserting the growing demand for biometric solutions in Eastern Europe,” says Idex Biometrics CCO Catharina Eklof.

Idex collaborates with Goldpac Fintech to deploy biometric cards outside of China

Idex is collaborating with Goldpac Fintech, a Hong Kong-based Goldpac Group company, to deploy biometric cards based on Idex’s fingerprint scanning for payments and identity access at a global scale.

Goldpac is the world’s fourth largest payment cards supplier. It has more than 1,700 customers, which consist of large and medium-sized issuers and financial institutions in Asia and across the globe. It can manufacture and personalize as many as 300 million payment cards each year. Goldpac Fintech Hong Kong is the international arm of the overall group of companies.

Goldpac Group has been working with Idex on biometric payment cards for years, and placed an order for Idex’s fingerprint sensors in 2021.

“With Goldpac’s extensive bank portfolio and expertise in the payments and identification markets, we are adding an important ecosystem partner in support of our commercial acceleration,” says Eklof. “We expect these biometric cards to be in consumers’ hands before the end of 2023.”

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