“Our enrollment invention not only addresses privacy concerns, it potentially aids financial inclusion by offering a cost-effective, practical solution for developing countries.” – Fred Benkley, Chief Innovation Officer, IDEX
IDEX has been granted two US patents for important technology associated with its biometric payment cards solutions. The patents both pertain to the enrollment of a user’s fingerprint on a new biometric payment card.
IDEX’s method involves the use of “a simple unconnected device,” as the company explained in a statement announcing the patent wins. A new card would be shipped to an end user together with a compact electronic receptacle into which the card can be inserted. Once the card is in place, the user enrolls their fingerprint by scanning it multiple times, ensuring that a biometric template can be established.
Importantly, there is no need for a connection to an external device or server during this process, ensuring that the user’s biometric data is kept on the payment card.
Commenting on the patent wins, IDEX Chief Innovation Officer Fred Benkley noted that his firm also has similar international patents pending. “This is an important part of IDEX’s competitive strategy to provide complete end-to-end biometric solutions,” he said, adding later, “Our enrollment invention not only addresses privacy concerns, it potentially aids financial inclusion by offering a cost-effective, practical solution for developing countries.”
The development further illuminates the competition now underway between technology providers in the biometric cards market to gain a solid position ahead of major commercial rollouts expected to begin later this year. And the news comes just ahead of IDEX’s forthcoming Annual General Meeting and the publication of its Q1 results for 2019, both of which are scheduled for May 9th.
May 8, 2019 – by Alex Perala