Oslo, Norway, 23 May 2023 - A global leading card manufacturer and payments
solution provider has selected IDEX Biometrics as solution provider for its
expanding initiatives in secure digital authentication and payment solutions.
With an annual production volume of more than 30 million cards and a strong
presence in the Middle East, the manufacturer will leverage IDEX Biometrics
cutting-edge technology platform and complete biometric smart card solution for
scaled deployment within their broad global customer portfolio. The cards are
expected to reach the market in the fourth quarter of 2023.
Consumers in the Middle East are switching to card and electronic payments at an
incredible speed, pushed by governments and regulatory initiatives. The payment
card market is expected to grow at a CAGR of 16%.
"We are pleased that the complete biometric solutions from IDEX Biometrics
continues to accelerate the expansion of biometric smart cards," says Catharina
Eklof, Chief Commercial Officer at IDEX Biometrics. "With the manufacturer's
expansive global footprint and strong issuer portfolio in the Middle East, we
are excited to jointly develop and market biometric smart cards for digital
authentication, payments, and other applications."
Source: Mordor Intelligence, Middle East and Africa payments market, forecast
period 2022-2027
For further information contact:
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com
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About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and Nasdaq: IDBA) is a global technology leader
in fingerprint biometrics, offering authentication solutions across payments,
access control, and digital identity. Our solutions bring convenience, security,
peace of mind and seamless user experiences to the world. Built on patented and
proprietary sensor technologies, integrated circuit designs, and software, our
biometric solutions target card-based applications for payments and digital
authentication. As an industry-enabler we partner with leading card
manufacturers and technology companies to bring our solutions to market.
For more information, visit www.idexbiometrics.com
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TRADEMARK STATEMENT
IDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics
ASA. All other brands or product names are the property of their respective
holders.