This collaboration focuses on enhancing and certifying IDEX’s Biometrics Payment Card solution, aiming to offer a seamless payment experience for consumers globally.
IDEX Biometrics ASA, known globally for its pioneering fingerprint biometrics, offers diverse authentication solutions spanning payments, access control, and digital identity. Their ground-breaking solutions offer both convenience and security, reinforcing seamless user experiences.
Their biometric solutions are especially crafted for card-based applications concerning payments and digital authentication. By joining hands with top-tier card manufacturers and technology corporations, IDEX aims to introduce its innovative solutions to the market.
While the main text doesn’t delve deeply into Mastercard’s profile, it’s widely known that Mastercard is a global front-runner in the financial services sector, providing diverse payment solutions to millions worldwide.
IDEX Biometrics’ payment card solution has successfully completed Mastercard’s Compliance Assessment and Security Testing (CAST), the last step in Mastercard certification. This follows the previously acclaimed FTAS certification for sensor performance. Now, smartcard manufacturers can utilise this certification for their Letters of Approval without undergoing independent compliance tests.
This move is set to notably slash both development costs and the time to market. To date, over 15 global card manufacturers and resellers have already opted for IDEX Biometrics’ certified payment card solution. This shift is in response to a surging demand from banks and FinTechs for biometric payment cards.
Infineon Head of Product Line Payment Solutions Tolgahan Yildiz said, “Infineon is delighted to see our partner IDEX Biometrics bringing their biometric payment cards solution, including Infineon’s high end secure element SLC38B to the market, addressing the increasing needs for secured and convenient payments.
“With its excellent RF performance, increased number of interfaces, and computation power, SLC38B is the right fit for biometric smart cards, enabling seamless user experiences. Infineon is committed to address the emerging market of biometric payments with tailored products and systems together with our partners.”
IDEX Biometrics Chief Executive Officer Vince Graziani said, “This is a significant accomplishment for IDEX Biometrics and our partners, Infineon and Linxens. Together we are bringing to market a top-of-the-line biometric solution to card manufacturers, issuers and banks, featuring the highest levels of user experience and functionality. We expect accelerated growth as these cards built on IDEX certified payment solution reach the market in the fourth quarter of 2023.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
Copyright © 2018 RegTech Analyst