IDEX Biometrics CEO Vince Graziani has recapped some of the company’s accomplishments in his year-end update. In doing so, he placed a particularly strong focus on the company’s burgeoning smart card business, noting that IDEX has been able to advance its goals without suffering any major delays or incurring any additional costs as a result of COVID-19.
In that regard, Graziani noted that the pandemic has generated more interest in contactless payment solutions. He cited conversations with “several prominent US retailers” when reporting that there has been a 150 percent increase in the use of contactless payments every single month since the beginning of the pandemic, and suggested that the trend is similar in other parts of the globe.
IDEX is now trying to position itself to capitalize on that market, and Graziani believes that the company has done so based on its successes in 2020. Most notably, the company’s technology has been certified by two major payment networks, while its new TrustedBio sensor has been fully integrated into Zwipe’s Pay ONE platform for biometric cards. As a result, IDEX’s technology is included in each sale of the Zwipe solution.
The goal, according to Graziani, is to make IDEX’s fingerprint solutions as broadly appealing as possible. In addition to Zwipe, the company has secure element partnerships with HED, Infineon, TMC, and Fudan, giving it one of the largest partner portfolios in the business. That gives IDEX more flexibility with new customers, since card manufacturers can continue to use their existing secure element technology with IDEX’s sensors.
IDEX has received multiple volume orders for its TrustedBio products in the past few months. The company’s customers (other than Zwipe) include Dongwoon Anatech and Hengbao. The news marks the end of an eventful but productive year for Graziani, who signed on as IDEX’s new CEO in February, only a few short weeks before work-from-home orders were put in place.