Oslo, Norway – August 26, 2024 – IDEX Biometrics has achieved a major milestone for IDEX Pay by successfully passing Visa certification with Visa’s latest VBSS
biometric payment application. The IDEX Pay biometric solution includes IDEX Biometrics’ proprietary card operating system and a state-of-the-art fingerprint sensor with Infineon’s high-performance SLC38 security element.
Visa certification is the end result of extensive biometric performance testing and ensures that the payment system’s 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 a leading market position in key growth markets in Asia Pacific, Latin America and Africa, this certification enables card manufacturers worldwide to commercialize their cards.
IDEX Pay is already certified by Mastercard and several card manufacturers have already received their Mastercard Letter of Approval process or are in the final stages. Visa and Mastercard represent 64% of the 687 billion annual payment transactions(**), ensuring global coverage for IDEX Pay.
“IDEX Biometrics is a pioneer in the industry and is one of the first companies to deploy a certified biometric solution based on the Visa payment applet. We hereby confirm to card manufacturers and banks worldwide that our biometric solution meets the highest security and functionality standards,” says Catharina Eklof, Chief Executive Officer at IDEX Biometrics.
Visa Biometric Sensor-on-Card Specification
(**) Nilson Report, 2024
For further information please contact: Marianne Bøe, Head of Investor Relations
E-mail:
[email protected]
Phone: + 47 918 00186
About IDEX Biometrics IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, providing authentication solutions for payments, access control and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Our biometric solutions are based on patented and proprietary sensor technologies, integrated circuit designs and software and target card-based applications for payments and digital authentication. As an industry leader, we partner with leading card manufacturers and technology companies to bring our solutions to market.
For more information, see
www.idexbiometrics.com
Brand statement
IDEX, IDEX Biometrics and the IDEX logo are trademarks of IDEX Biometrics ASA. All other trademarks or product names are the property of their respective owners.
About this noticeThis announcement contains inside information within the meaning of 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 announcement is published in accordance with Section 5-12 of the Norwegian Securities Trading Act.
