Oslo, Norway – 26 August 2024 – IDEX Biometrics has reached an important milestone for IDEX Pay by successfully passing Visa’s certification using Visa’s latest VBSS(*) biometric payment application. The IDEX Pay biometric solution includes the IDEX Biometrics proprietary card operating system and latest technology fingerprint sensor with Infineon’s high performing SLC38 secure element.
The Visa certification is the ultimate result of comprehensive biometric performance testing and ensures that payment’s scheme functional and security specifications are met. This certification confirms that IDEX Pay is ready for scaled commercialization on the Visa payment network. With more than 3 billion Visa cards in circulation and with a leading market position in key growth market in APAC, Latin America and Africa, this certification enables card manufacturers globally.
IDEX Pay is already certified with Mastercard, and several card manufacturers have already received or are in finalizing stages of their Mastercard Letter of Approval process. Visa and Mastercard represent 64% of the 687 billion annual payment transactions(**), ensuring a global coverage for IDEX Pay.
“IDEX Biometrics is spearheading the industry, being among the first to deploy a certified biometric solution based on the Visa payment applet. We are hereby affirming our biometric solution’s compliance with highest security and functionality standards to card manufacturers and banks worldwide,” says Catharina Eklof, Chief Executive Officer at IDEX Biometrics.
(*) Visa Biometric Sensor-on-Card Specification
(**) Nilson Report, 2024
For further information contact:
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 918 00186
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
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 discloses inside information pursuant to the EU Market Abuse Regulation and was issued by Marianne Bøe, Head of Investor Relations, on 02 April 2024 at 09:35 CET on behalf of IDEX Biometrics ASA. The notice is published in accordance with section 5-12 the Norwegian Securities Trading Act
