Biometric Payment Cards: IDEX Biometrics Adds Issuer in Turkey as Expansion of Business Continues

IDEX Biometrics is expanding biometric payment card programs in Turkey with a fourth issuer.

This fast growing bank challenger “represents a customer portfolio of more than 10 million customers.” The biometric payment cards from this issuer are “expected to be in consumers’ hands by the first quarter of 2024.”

This expansion confirms IDEX Biometrics “commitment in Turkey, a highly innovative payments market and a pioneer in contactless payments, with a purchase volume of USD 216 billion.”

Catharina Eklof, Chief Commercial Officer at IDEX Biometrics, said:

“As part of our global biometric payment scaling strategy, IDEX Biometrics continues its expansion in Turkey with this additional issuer. By enabling our strong manufacturing partners in Turkey and globally, we are supporting this unpredecent pace of acceleration of the biometric smart card market.”

As noted in the update, IDEX Biometrics ASA (OSE: IDEX and Nasdaq: IDBA) claims it is a global technology leader “in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity.”

Their solutions aim to “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 their solutions to market.”

In another recent update, it was noted that IDEX Biometrics and MCS Microsystems are partnering “to develop next generation multi-application biometric smart cards.”

MCS claims it is “a leading Malaysia-based, technology-focused smart card solution provider enabling more than 30 national identification projects and 50 million users globally, mainly for government ID and healthcare.”

MCS biometric smart cards “for identity access will leverage IDEX Biometrics cutting-edge fingerprint technology.” The partnership “marks IDEX Biometrics continued expansion in Asia Pacific, representing a significant and growing market opportunity.”

MCS’s multi-application smart cards are “based on IDEX Biometrics latest sensor solution, ensuring fast, accurate, and seamless authentication.”

IDEX Biometrics solutions “continue to expand into non-payment segments, with high-assurance performance and biometric matching increasing performance and security for trusted ID solutions.”

MCS intends “to offer this new battery less solution to its customers and partners across Southeast Asia, North America and Europe in the fourth quarter of 2023.”

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