Oslo, Norway and Pune, India – 30 November 2022 – IDEX Biometrics ASA is bringing biometric cost playing cards to the Indian market, in partnership with expertise supplier M-Tech Improvements Ltd. The biometric cost playing cards are anticipated to succeed in the market in 2023.
This partnership will present banks and different sensible card issuers with biometric card options for the Indian market, a entrance runner in biometric authentication. India is without doubt one of the world’s quickest rising cost card markets with near 1 billion playing cards issued yearly, and with 5 million acceptance locations1.
M-Tech is licensed by RuPay, Visa and Mastercard, providing excessive tech end-to-end sensible card options for monetary funds, entry management, and authorities identification. The biometric answer is predicated on IDEX Biometrics TrustedBio sensor module, powered by SLC38 from Infineon Applied sciences. The businesses will co-develop progressive options for fingerprint registration, tailor-made to the Indian market.
Catharina Eklof, Chief Business Officer of IDEX Biometrics, says, “The Indian market represents a really massive alternative for biometric cost playing cards. Shoppers in India are used to biometric authentication by way of the Aadhaar biometric program. The fingerprint answer from IDEX Biometrics makes use of encrypted biometric expertise which by no means leaves the cardboard, making certain velocity and diminished danger of hacking. We’re delighted that hundreds of thousands of shoppers will be capable of profit from safe and seamless funds by way of the IDEX Biometrics collaboration with M-Tech.”
”The booming sensible card market in India represents a superb alternative for the biometric card answer from IDEX Biometrics”, says VM Gandhi, Chairman of M-Tech. ”We see a robust and rising demand for biometric sensible playing cards. Adapting the onboarding and registration processes to the Indian market shall be essential, and we’re assured in IDEX Biometrics expertise management and innovation energy to speed up market adoption for the good thing about shoppers throughout India.”
1Reserve Financial institution of India, 2022
For additional data contact:
Marianne Bøe, Head of Investor Relations
E-mail: [email protected]
Tel: + 47 918 00186
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and Nasdaq: IDBA) is a number one supplier of fingerprint identification applied sciences providing easy, safe, and private authentication for all. We assist folks make funds, show their identification, acquire entry to data or unlock gadgets with the contact of a finger. We invent, engineer, and commercialize these safe, but extremely user-friendly options. Our complete addressable market represents a quick rising multi-billion-unit alternative.
For extra data, go to www.idexbiometrics.com
M-Tech Improvements Restricted is a VISA, MASTER Card, RuPay, ISO 9001:2008, TS 16949:2002, ISO/ IEC 20000:2018, CMMI degree 3, ISO 14001:2015, IATF 16949 licensed firm based mostly in Pune, India.
Mtech gives big selection of producing all kinds of Sensible Playing cards & Sensible Card based mostly Utility, Automotive Dials answer and RFID finish to finish answer. At this time, Mtech is without doubt one of the main suppliers of Sensible Card in India and supply personalized options based mostly on particular necessities to all segments like Banking, Authorities, Company, and many others
For extra data, go to www.m-techindia.com
IDEX, TrustedBio, IDEX Biometrics and the IDEX brand are emblems owned by IDEX Biometrics ASA. All different manufacturers or product names are the property of their respective holders.