“We take pride in the confidence Hengbao and its banking partners have shown in IDEX Biometrics by selecting our fingerprint authentication solution for this innovative new product.” – Vince Graziani, CEO, IDEX Biometrics
IDEX Biometrics‘ Beijing-based partner Hengbao Corporation has attained certification from China UnionPay, marking the latest important checkpoint on the path toward large-scale commercialization of biometric payment cards.
The companies first announced their partnership in September of 2018, when they revealed that they were working toward trials of a dual interface biometric card. They went on to showcase their fingerprint-scanning card solution at the Digital China Summit the following year. The card features IDEX’s proprietary biometric fingerprint matching algorithm, as well as a THD89 Secure Element provided by Tongxin Microelectronics Co.
Now, Hengbao’s card has completed testing by China’s Bank Card Test Center, establishing that it meets China UnionPay’s interoperability standards. That clears the way forward for Hengbao to proceed with manufacturing and distribution in the country.
That’s good news for IDEX, as Hengbao’s success in the China market will help to solidify the company’s importance as a vendor of biometric technology for the next generation of payment cards.
“We take great pride in the confidence Hengbao and its banking partners have shown in IDEX Biometrics by selecting our fingerprint authentication solution for this innovative new product,” commented IDEX CEO Vince Graziani, adding later that their “enhanced multi-use card will be an important step in the broader adoption of biometrically-enabled smart cards in China.”
The development arrives hot on the heels of important certifications for another IDEX partner. IDEMIA, whose F.CODE payment card also features IDEX’s biometric technology, recently received Letters of Approval from both Visa and Mastercard, and consequently went ahead with a large new production order for IDEX’s TrustedBio sensor solution.
In announcing Hengbao’s China UnionPay certification, IDEX highlighted the extensive market reach opened up by these developments. China UnionPay, Mastercard, and Visa combined process 90 percent of all card payments globally, the company said.
(Originally posted on FindBiometrics)