Oslo, Norway and Seoul, South Korea - 25 November 2024: Global smart card
technology company Biosmart has obtained the Letter of Approval (LoA)
from Mastercard for its biometric payment card built on the IDEX Pay platform.
Biosmart can now move to industrialized production of biometric payment cards.
Biosmart is a Korea based manufacturer with an annual production capacity of
50+ million payment cards. Biosmart is a trusted partner of leading banks in
Asia, Middle East, Europe and USA.
IDEX Biometrics differentiated and optimized fingerprint biometrics platform
enables manufacturing partners to serve banks with biometric payment cards which
are accepted on all EMVCo compliant payment terminals across the globe.
"Making payments easier and more secure for consumers with biometric payment
cards, based on the leading technology from IDEX Biometrics, represents a
massive opportunity. The interest from banks in the region underpins the
commercial opportunity ahead of us" says Henry Kang, Chief Sales Officer at
Biosmart.
"Congratulations to Biosmart on this Mastercard approval for biometric payment
cards, this strategic innovation product fits well with Biosmart's fintech
customers across the world," comments Catharina Eklof, Chief Executive Officer
at IDEX Biometrics. "Secure and frictionless payments contribute to transaction
and retention increase, critical to banks in today's competitive payment
landscape."
For further information contact
Marianne Bøe, Head of Investor Relations
E-mail: ir@idexbiometrics.com
Tel: + 47 67 83 91 19
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint
biometrics, offering authentication solutions across payments, access control,
and digital identity. Our solutions bring convenience, security, peace of mind
and seamless user experiences to the world. Built on patented and proprietary
sensor technologies, integrated circuit designs, and software, our biometric
solutions target card-based applications for payments and digital
authentication. As an industry-enabler we partner with leading card
manufacturers and technology companies to bring our solutions to market.
For more information, visit www.idexbiometrics.com
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About Biosmart
Founded in 1971 and located in South Korea, Biosmart has grown to provide a
variety of high-end card products from PVC, jewellery, and metal which deliver a
luxurious lifestyle to clients. Biosmart is a certified card manufacturing and
personalization vendor of global payment brands such as Visa, Mastercard, AMEX,
Union Pay, JCB, and Diner's.
Trademark Statement
IDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics
ASA. All other brands or product names are the property of their respective
holders.
About this notice
This notice was issued by Marianne Bøe, Head of Investor Relations, on 25
November 2024 at 08:15 CET on behalf of IDEX Biometrics ASA.