IDEX Biometrics has established a partnership with an unnamed “issuer and processor of EMV compliant payment cards” based in the United Kingdom, the company has announced. The company added that its new partner is a well-established B2B solutions provider with a focus on banking and FinTech, and a portfolio spanning the UK, Europe, and North America. IDEX expects the partnership to deliver fingerprint-scanning cards to consumers in the first quarter of next year.
The news comes amid reports that card transactions grew by 17.3% in Europe, reaching a high of 56.3 billion in 2021.
“We are excited to bring the IDEX Biometrics platform solution for biometric payments cards to the UK market,” said Catharina Eklof, Chief Commercial Officer at IDEX Biometrics. “Market surveys confirm that 70% of UK consumers would use a biometric payment card, giving them additional peace of mind in times of increased contactless limits. As we bring our proprietary and innovative technology platform to market, IDEX Biometrics contributes to more seamless digital payment experiences around the globe.”
The biometric card sector’s strong growth offers an optimistic view of the future for fingerprint biometrics after a recent quarterly update from industry leader Fingerprint Cards revealed a number of potential warning signs for the mobile segment of the fingerprint sensor market, particularly in the China region.
November 4, 2022 – by Tony Bitzionis, with Alex Perala