Idex biometric payment cards advance with 10K Visa order, Kona’s Mastercard approval

Idex Biometrics has received a production order of 10,000 units for its biometric payment card solution. The company which placed the order is described as a smart card technology, security and ID company based in MEA (Middle East and Africa).

MEA is one of the fastest-growing payment markets and the order supports the Visa biometric card program. It marks the first Visa program in the market on the Idex Pay biometrics platform, which includes the fingerprint sensor and associated software. The company placing the order serves over 500 banks, governments, and corporations worldwide, according to Idex.

“The innovation pace of our card manufacturing partners in bringing biometric smart cards to market is accelerating; certifications allow them to move to industrialized production and commercialization,” said Catharina Eklof, CEO of Idex Biometrics.

In addition, smart card and tech platform company Kona has acquired a letter of approval from Mastercard for biometric PVC payment cards built on the Idex Pay platform, allowing Kona to issue and deploy the biometric cards worldwide. Kona is expected to bring the biometric payment cards to Japan where credit card fraud has surged with the market expected to make up 30 percent of Kona’s business this year.

“Kona I has proven its leadership as the first manufacturing partner fully approved by Mastercard for both PVC and metal cards,” Eklof commented. “These certifications allow for industrialized production and accelerated commercialization.”

Kona obtained the world’s first Mastercard approval for Idex Pay biometric metal cards at the end of 2024. Idex considers biometric metal cards a growth area among challenger and traditional banks targeting affluent customers.

Idex CEO Eklof has said the company is focused on bringing its partners “from certification to industrialized production.” Mastercard’s approval of cards from Kona is an example. South Korea-based Kona has an annual production capacity of over 60 million smart cards. Idex’s strategy looks to improve financial results by riding biometric smart card growth.

Article Topics

biometric cards  |  biometric payments  |  biometrics  |  Idex Biometrics  |  Kona I  |  Mastercard  |  Visa