Major UAE bank launches biometric payment card on IDEX Biometrics sensor technology

Oslo, Norway – 1 November 2022 – IDEX Biometrics ASA announces that one of the largest banks in the Middle East has deployed a full-scale biometric payment card launch with the IDEX Biometrics partner , powered by IDEX Biometrics sensor technology. This launch is the first volume deployment of biometric payment cards to consumers in the Middle East, confirming the expected commercial acceleration in 2022, and a market inflection in 2023.  

The Middle East is one of the fastest growing regions for card payments globally. Customers around the globe have in numerous market surveys indicated high interest in biometric payment cards with more than 70 percent indicating interest and willingness to pay for a biometric payment card. Cardholders are welcoming that more banks meet their needs for convenient and secure payment alternatives, offering limitless contactless payments, secured by the user’s unique fingerprint.

“IDEX Biometrics groundbreaking sensor solution is bringing seamless payment experiences to more consumers. The biometric payment card powered by IDEX Biometrics is certified by Visa and Mastercard and will work flawlessly with any payment terminal. We are pleased to bring our innovative technology to customers and, together with IDEMIA, support banks in the Middle East as they accelerate market deployment of smarter and more secure card payments”, said Vince Graziani, CEO of IDEX Biometrics.

For further information contact:

Marianne Bøe, Head of Investor Relations

E-mail: 

Tel: + 47 918 00186

About IDEX Biometrics

IDEX Biometrics (OSE: IDEX and Nasdaq: IDBA) is a leading provider of fingerprint identification technologies offering simple, secure, and personal authentication for all.  We help people make payments, prove their identity, gain access to information or unlock devices with the touch of a finger. We invent, engineer, and commercialize these secure, yet incredibly user-friendly solutions. Our total addressable market represents a fast growing multi-billion-unit opportunity.

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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.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act