IDEX Biometrics Receives Volume Production Order as IDEMIA Accelerates Expansion of Biometric Payment Cards

IDEX BIOMETRY ASA

Oslo, Norway – November 16, 2022 – IDEX Biometrics ASA has received a volume production order from partner IDEMIA, representing the largest order to date for IDEX TrustedBio sensors. The order represents over $2 million in revenue for IDEX and will begin shipping in Q1 2023. IDEX and IDEMIA are seeing an acceleration in the biometric payment card market, and in early November the two companies announced a card program large-scale biometrics by a major bank in the UAE. IDEX Biometrics also recently confirmed deals with issuers in Turkey and the UK for biometric card programs, which are expected to hit markets in the first half of 2023.
“This order from our partner IDEMIA reflects the growing demand for biometric payment cards powered by IDEX Biometrics TrustedBio technology. IDEMIA has come to market with a superior solution that is gaining momentum as banks begin to launch large-scale biometric card programs around the world,” comments Vince Graziani, CEO of IDEX Biometrics.

For more information, contact:
Marianne Bøe, Head of Investor Relations
E-mail: [email protected]
Tel: + 47 918 00186

About IDEX Biometrics

IDEX Biometrics (OSE:IDEX and Nasdaq:IDBA) is a leading provider of fingerprint identification technology providing simple, secure and personal authentication for everyone. We help people make payments, prove their identity, access information or unlock devices with the touch of a finger. We invent, design and market these secure, yet incredibly user-friendly solutions. Our total addressable market represents a rapidly growing multi-billion unit opportunity.

For more information visit www.idexbiometrics.com

TRADEMARK STATEMENT
IDEX, TrustedBio, IDEX Biometrics and the IDEX logo are registered trademarks owned by IDEX Biometrics ASA. All other brand or product names are the property of their respective owners.

This information is subject to the disclosure requirements in accordance with section 5-12 of the Norwegian Securities Act.


Source link

Elaine R. Knight