Idex Biometrics secures Visa certification, expands into Indian market

Idex Biometrics has obtained Visa certification for its Idex Pay biometric payment application, utilizing the Visa Biometric Sensor Standard (VBSS). This certification ensures that the payment system meets the necessary functional and security requirements to operate on the Visa network.

The certification process involves comprehensive testing of various parameters, including biometric performance, security, and overall payment card functionality. With this certification, Idex Pay is now authorized for broad commercialization.

The payment system comprises software that monitors the operations of the biometric payment card, a fingerprint sensor for biometric authentication, and a high-performance security chip (Infineon SLC38 secure element).

Idex Biometrics’ payment card received a Conformity Compliance Statement (CCS) from Mastercard last year. Catharine Eklof was promoted to the position of CEO after serving as the company’s chief commercial officer for three years.

Idex Biometrics expand biometric payment cards in India

Idex Biometrics is expanding its biometric payment cards into the Indian market, where there are already a billion payment cards in circulation. The company’s solution anticipates adoption, as research from Arlington Research indicates that over 90 percent of affluent consumers in India are interested in biometric payment cards.

“The user-friendly card solution from Idex Biometrics supports acceleration of payment digitization in India, while ensuring that all aspects of market deployment are considered,” says Catharina Eklof, chief executive officer of Idex Biometrics.

The Reserve Bank of India (RBI) has mandated the implementation of an additional factor of authentication (AFA) for digital payments.

Article Topics

biometric cards  |  biometric payments  |  biometrics  |  certification  |  Idex Biometrics  |  India  |  Visa