IDEX Biometrics is celebrating another major milestone as the biometric card market continues to mature. VISA has now issued a formal Letter of Approval to IDEMIA’s F.CODE platform for biometric payment cards, which utilizes IDEX’s TrustedBio fingerprint sensor for authentication.
The upshot is that the TrustedBio sensor is now cleared for use in payment cards issued under the VISA payment scheme. VISA is one of the biggest payment providers in the world with roughly 3.6 billion cards already in circulation, and that number is expected to increase dramatically in the next few years. For example, Nilson Reports has predicted that VISA’s circulation will jump 18 percent leading up to 2026.
That obviously represents a massive market opportunity for IDEX Biometrics. The official Letter of Approval indicates that the F.CODE platform is fully compatible with the rest of VISA’s payment network, and will therefore be recognized at any vendor that accepts VISA cards. The Letter also attests to F.CODE’s security and performance capabilities, and confirms that the platform is compliant with the latest EMV standards for interoperability.
“Completion of the VISA certification is an important achievement, as it allows for rapid deployment of biometric cards for all the worldwide banks, challenger banks, fintechs, and other card issuers,” said IDEX CEO Vince Graziani. “Fingerprint biometrics is one of the major technology developments for smart cards in recent years and will play a critical role in the future of payments delivering a better, more secure payment experience.”
The TrustedBio sensor entered mass production in March, and has already appeared in a Goldpac card that received a Letter of Approval from China UnionPay earlier this year. IDEX and IDEMIA announced that they would be collaborating on a biometric payment card solution in April, after previously conducting a card pilot with Zwipe back in 2020.