IDEX Biometrics has formed a strategic partnership with the South Korean smart card manufacturer Ubivelox. The two companies have signed a Memorandum of Understanding, and will now collaborate to develop and market biometric payment cards in the Asia Pacific region.
The new cards will leverage IDEX’s TrustedBio line of fingerprint sensors and System-on-Chip solutions. The technology debuted earlier this year, and has rapidly gained traction with smart card manufacturers. The first TrustedBio shipment went out in August, while IDEX received its first volume order earlier this month.
The Ubivelox cards will be geared towards Mastercard and Visa issuers, and are expected to ship in the first quarter of 2021. The cards will be built with a Secure Element with integrated power management from an unnamed international provider. Ubivelox itself is based in Seoul, and currently provides cards for more than 140 customers. The company has EMV certification for JCB and American Express in addition to Mastercard and Visa.
“This represents another significant step forward for IDEX and provides extensive coverage in Asia, outside of China,” said IDEX CEO Vince Graziani. “Ubivelox provides smart cards, card operating systems and payment applets which complement our TrustedBio fingerprint sensors, matcher and enrollment solutions.”
Ubivelox indicated that the partnership will drive growth because the cost-effective TrustedBio solution will allow the company to meet the growing demand for biometric payment cards.