back Back

IDEX Biometrics to launch biometric payment cards in Europe

By Gloria Methri

November 03, 2022

  • Biometric Cards
  • Europe
  • FinTechs

IDEX BiometricsIDEX Biometrics ASA is set to launch a biometric payment card program with a UK issuer and processor of EMV1-compliant payment cards.

This issuer is a B2B solution provider with a strong portfolio of FinTechs and banks across the UK, Europe, and North America. These biometric payment cards are estimated to reach consumers by Q1 2023.

IDEX Biometrics states that Europe is experiencing a continued increase in card transactions of 17.3%, reaching 56.3 billion in 2021, which represents a large and growing market potential2. The company is partnering with card solution providers in Europe and has recently partnered with a smart card manufacturer in the UK to enable this opportunity.

“We are excited to bring the IDEX Biometrics platform solution for biometric payments cards to the UK market. 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 limits3. As we bring our proprietary and innovative technology platform to market, IDEX Biometrics contributes to more seamless digital payment experiences around the globe,” said Catharina Eklof, Chief Commercial Officer at IDEX Biometrics.

IDEX Biometrics provides fingerprint identification technologies to help people make payments, prove their identity, gain access to information, or unlock devices with the touch of a finger.

In August, the company announced a strategic partnership with Reltime, to jointly develop a Web3 biometric payment card, including cold storage and digital asset wallets, combined with digital identification. The plan was to offer several white-labelled B2B2C solutions, including Reltime’s FastTrack to Web3, which can be offered to financial institutions, telecommunications companies, FinTech firms, and other parties that wish to enter the Web3 space.

Previous Article

November 03, 2022

Zest AI raises over $50m to advance the next generation of AI-automated underwriting

Read More
Next Article

November 03, 2022

Finnish S-Bank chooses Worldline to detect card frauds

Read More

IBSi Daily News Analysis

UK, Bank

July 12, 2024

Biometric Cards

Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 12, 2024

Nuvei and Mastercard team to enable crypto to fiat conversion

Read More

July 12, 2024

Payset and ClearBank partner for local and cross-border payments

Read More

July 12, 2024

Network International launches Business Payment Solutions with Mastercard

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024