“The increasing popularity of card payments in Asia, in conjunction with the growing preference towards biometrics, has created the perfect storm for this partnership with Hengbao, a very influential player in the Asian market.” – Stan Swearingen, CEO, IDEX Biometrics
IDEX Biometrics has a big new partner in its escalating efforts to promote its biometric card technology. Hengbao, a major Chinese solutions provider, will work with IDEX to trial its dual interface cards in the Asian market.
Headquartered in Beijing, Hengbao has a staff of more than 1,500 employees, and covers a wide range of business areas, including IT security services and various payments solutions including cards and digital commerce technology. Hengbao supports Visa, Mastercard, JCB, and China Union Pay payment network specifications, and counts Alibaba, ICBC, and Bank of China among its partners.
In a statement announcing the partnership, IDEX Biometrics CEO Stan Swearingen highlighted its fortuitous market circumstances. “The increasing popularity of card payments in Asia, in conjunction with the growing preference towards biometrics, has created the perfect storm for this partnership with Hengbao, a very influential player in the Asian market,” he said.
The companies haven’t yet announced specific plans for their dual interface card trials, but in offering his own commentary on the partnership, Hengbao CEO Simon J. Qian said his firm is “excited to take this first step for contact-based biometric smart payment cards with IDEX Biometrics in the Asian market”, and that they “look forward to announcing trials in the near future.”
September 21, 2018 – by Alex Perala