IDEX Biometrics ASA has announced that one of the largest banks in the Middle East has deployed a full-scale biometric payment card launch with the IDEX Biometrics partner IDEMIA, 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.
Vince Graziani, CEO of IDEX Biometrics said: “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 payment”.
More than 70% of customers favour biometric payment cards.
