IDEX Intensifies China Focus with Latest Biometric Cards Partner

“It’s beyond doubt that the market for biometric cards will ramp significantly in 2019. During the second half of 2018 a vast range of card integrators have geared up their efforts to commercialize biometric cards which will provide simple, secure and personal authentication for all. We see especially strong pull in China, and we are extremely pleased to be working with a market leader such as Goldpac.” – Stan Swearingen, CEO, IDEX Biometrics

IDEX Biometrics is homing in on the Chinese biometric card market with another new partnership: The company has announced that it has teamed up with China-based Goldpac Group, which it describes as one of the five biggest card integrators in the world.

In a statement, IDEX asserted that the aim of the partnership “is to launch dual-interface biometric smart cards to customers in China and beyond.”

Clarifying that the focus here is on fingerprint-scanning credit and debit cards, and not simply smart cards for access control and the like, Goldpac COO Wu Siqiang explained: “We consistently pursue innovative technologies into our payment products and strive to make them a more secure and convenient means of payment.”

Goldpac is the latest in a string of China-based partners for IDEX over the past few months. Chutian Dragon Co., a card producer certified by China UnionPay, Mastercard, Visa, JCB, and Amex, teamed up with the company in November, as did Secure Element specialist CEC Huada Electronic Design Co.; and in early December IDEX announced a smart cards-focused partnership with Shenzhen-based Excelsecu.

Commenting on this latest partnership, IDEX CEO Stan Swearingen said it is now “beyond doubt that the market for biometric cards will ramp significantly in 2019,” adding later, “We see especially strong pull in China, and we are extremely pleased to be working with a market leader such as Goldpac.”

News of the partnership arrives on the heels of IDEX’s announcement that it had raised $25 million through a private placement, which would be used to help fuel its growth over the coming year.