Goldpac and IDEX Biometrics Card Gets Formal Approval From China UnionPay

Goldpac’s new biometric payment card has officially received a second letter of approval (LOA) from China UnionPay (CUP). The letter will allow Goldpac to move forward with its distribution plans and begin issuing cards to the public after receiving preliminary CUP certification back in January.

“CUP is the largest payment network in the world, supporting more than half of all cards issued on the global brand networks,” said IDEX Biometrics CEO Vince Graziani. “This second LOA is a yet another critical step to driving mass adoption.”

The Goldpac card pairs IDEX’s TrustedBio fingerprint sensor with a secure element from Tongxin Microelectronics. FEITIAN has already received CUP certification for a card featuring IDEX technology, making Goldpac’s offering the second IDEX-powered card to accomplish the feat.

The second letter of approval indicates that Goldpac’s card is compliant with all of the relevant regulatory requirements, with international interoperability that allows owners to use the card at ATMs and payment terminals all over the world. The letter also speaks to the card’s durability, and attests to its robust security capabilities.

IDEX has formed card partnership with two other international payment schemes. One is based in the United States, while the other has certified an IDEX card for use in Europe.

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February 16, 2021 – by Eric Weiss