IDEMIA Group receives Letter of Approval for best-in-class F.CODETM payment card platform utilizing TrustedBio® solution from IDEX Biometrics
Oslo, Norway – 03 November 2021 - IDEX Biometrics ASA today announced that Mastercard has fully certified IDEMIA Group’s F.CODETM biometric smart card platform, secured by IDEX Biometrics’ TrustedBio® fingerprint authentication solution. This is an important achievement for IDEX Biometrics, as IDEMIA is now able to begin high-volume deployment of its best-in-class F.CODE payment card to meet the increasing market demand for fingerprint authenticated payment cards.
The Letter of Approval (LOA) issued by Mastercard gives assurance to the payment ecosystem that the biometrically-authenticated F.CODE payment card will seamlessly be accepted across Mastercard’s global network, increasing security for millions of consumers, merchants, and issuers. According to the Nilson Report, Mastercard has approximately 2.5 billion cards in current circulation, a figure that is expected to grow by 29% over the next five years.
Vince Graziani, Chief Executive Officer of IDEX Biometrics, commented, “Completion of the Mastercard certification process by our partner IDEMIA, is another significant achievement for IDEX Biometrics. We now have certified biometric solutions with the top three global payment networks, allowing for deployment of biometric cards, together with our integration and issuer partners, at a rapid pace to over 15 billion consumers. We are happy that our TrustedBio solution is contributing to the ground-breaking performance and cost profile of our partner’s biometric payment card platform.
For further information contact:
Marianne Bøe, Investor Relations
Tel: +47 9180 0186
Brett L Perry, U.S. Investor Relations
Tel: + 1 214 272 0070
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and Nasdaq: IDBA) is a leading provider of fingerprint identification technologies offering simple, secure, and personal authentication for all. We help people make payments, prove their identity, gain access to information or unlock devices with the touch of a finger. We invent, engineer, and commercialize these secure, yet incredibly user-friendly solutions. Our total addressable market represents a fast growing multi-billion-unit opportunity.
For more information, visit www.idexbiometrics.com
IDEX, TrustedBio, 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.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act