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July 25, 2022

IDEX Biometrics forms alliance to issue biometric payment cards in Turkey

Norway-based IDEX Biometrics has partnered with a Turkish issuer to introduce biometric payment cards in the country in a bid to meet the consumer demand.

The company has not revealed the name of its partner.

Expected to be used in the local transactions, the new cards are set to be launched by the first quarter of next year.    

The latest collaboration was announced after IDEX Biometrics formed a separate deal with E-Kart, a card manufacturer in Turkey.

Turkey is said to be one of the biggest payment card markets across the world with 240 million cards in circulation and 1.8 million acceptance points.

IDEX Biometrics chief commercial officer Catharina Eklof said: “We are pleased to bring the IDEX Biometrics platform solution for EMVCo compliant biometric payments cards to market in Turkey.

“A recently published market survey commissioned by IDEX Customer Lab, reveals 86% of consumers in Turkey consider biometric payment cards very convenient, and 82% would use a biometric payment card if it were available to them. 

“As we expand the reach of our proprietary and innovative technology, we contribute to enhancing digital banking experiences and securing digital authentication across a variety of payment and digital authentication use cases.”

In January this year, IDEX Biometrics announced a collaboration with MKSmart, a Southeast Asia-based smart card solutions provider.

As part of the partnership, both the companies are expected to work together to provide biometric smart cards to financial organisations and other card issuers.

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