Competition from biometric payment cards is intensifying; Idemia and Thales in the running for a contract in Egypt
The latest wave of biometric payment card launches includes an ambitious card from Mastercard in Morocco, the first corporate biometric payment card and an accelerated service acquisition process for Idemia services to help fintechs and neobanks to get ahead. Meanwhile, Idemia and Thales are vying for a big contract from the Egyptian government to digitize the bank.
Mastercard and Crédit Agricole join forces to digitize cards and introduce biometric cards in Morocco
Crédit Agricole du Maroc (CAM) has partnered with Mastercard to develop new payment options including CAM Pay, which dematerializes users’ bank cards for mobile transactions, reports La Quotidienne.
CAM Pay is available for Mastercard holders who have an Android device with NFC functionality.
The collaboration will also launch Mastercard’s World Elite biometric payment card. The card incorporates a fingerprint scanner for in-person transactions. Other premium card account benefits are included, such as lounge access.
Thales and Idemia tussle over $108m Egyptian banking securities deal
French companies Thales and Idemia are neck and neck for a 100 million euro contract to digitize Egyptian banks, reports Africa Intelligence.
Thales is very active in Egypt, reports Africa Intelligence, although Idemia could have a more relevant relationship with the country.
In March 2020, Idemia announced its intention to expand its activities in Egypt with a shared service center. He agreed to work with Egypt Post to establish biometric digital identity services. The following August, he signed a $200 million deal with the Council for Arab Economic Unity, of which Egypt is a member, to develop a biometrics-based digital identity system.
In November 2020, the company signed an agreement with the Arab Organization for Industrialization for the digital transformation and production of biometric devices in Egypt for civilian and security use.
Africa Intelligence reports that in October 2021, it announced a partnership with e-Cards, a subsidiary of public investment group e-Finance to deploy Idemia’s card personalization system in Egypt.
Idemia launches the FinTech Accelerator Card program
Idemia is launching an accelerated process of providing its onboarding and payment card issuance services to fintechs and neobanks, the firm announced on Twitter.
IDEMIA has created an accelerated program that allows new entrants to the payment industry to get to market as quickly as possible with an innovative experience for your customer.
Learn more: https://t.co/MEk4MU8qEn pic.twitter.com/1jhBjUL5G9
— IDEMIA (@IdemiaGroup) April 5, 2022
The company intends to give new customers the benefit of bringing products to market with a full white-label service, from onboarding to personalized card issuance, with mobile proof of identity and features like as eco-responsible cards to help new competitors gain market share.
Manager.one tests the biometric business card with Idemia
In other Idemia news, entrepreneur-focused client neobank manager.one is testing what it says is the first biometric payment card for Idemia professionals and an online bank.
French professionals will be able to test the biometric card provided by Idemia, thanks to its F.CODE system. It contains a fingerprint sensor and can be used for contactless purchases up to €50 (about US$54).
Manager.one was the first online bank for businesses to offer Apple Pay and Google Pay.
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