IDEX, Partner Double Down On Biometric Payment Cards

“Commenting on the agreement, IDEX CEO Hemant Mardia said, ‘We are really pleased that a key partner has made this strong commitment to our technology vision and product roadmap’…”

IDEX and a strategic partner are doubling down on their commitment to biometric payment cards.

IDEX, Partner Double Down On Biometric Payment CardsThe company has announced that it has entered into an agreement entailing a commitment to continue to “aggressively develop new technologies for advanced biometric solutions.” In return, IDEX will be compensated “against specific roadmap milestones over the next 6 months.”

IDEX did not name the partner in question, referring to it as “its major global payment partner”. It may be worth noting that Mastercard used IDEX fingerprint sensors in new biometric payment cards that it trialled earlier this year, but IDEX also recently announced that its smart card sensor technology had gone into sampling with “several new card integrators in Asia Pacific”.

Commenting on the agreement, IDEX CEO Hemant Mardia said, “We are really pleased that a key partner has made this strong commitment to our technology vision and product roadmap,” adding later that IDEX’s leadership “fully expect this relationship to kick-start the monetisation of the technologies we have invested in over the last 3 years”.

IDEX is showcasing its biometric sensors for smart cards at the Money20/20 event in Las Vegas this week, which runs until Wednesday.