Norway-based IDEX Biometrics as partnered with Chinese card integrator Goldpac Group to launch dual-interface biometric smart cards in China and other international markets.
The biometric cards market is predicted to rise significantly this year. The partnership is intended to help Goldpac Group cater to this emerging market.
Goldpac Group COO WU Siqiang said: “Smart cards are the preferred means of authentication for billions of people. It’s very exciting that the next generation of smart card is upon us. We consistently pursue innovative technologies into our payment products and strive to make them a more secure and convenient means of payment.
“We are pleased to be partnered with IDEX, the leading provider of fingerprint identification and authentication solutions and we are looking forward to deploying biometric smart cards in 2019.”
IDEX offers a variety of fingerprint sensor products for applications in card. The company supplies dual-interface and contact-based solutions, and biometric cards.
It recently completed a private placement of NOK214m ($25m) with existing shareholders, including Woodford Investment Management, Invesco and its board and management members. The funds will be used to meet capital and operational requirements, and expected to carry the company to profitability.
IDEX believes that it is positioned to capture a large share of the biometric payment cards market, with an estimation of more than 575 million units by 2023.
Last year, the company forged multiple partnerships over biometric smart cards.
In November last year, the company entered into alliances with CEC Huada Electronic Design (HED), Infineon Technologies and Chutian Dragon.
With Chutian Dragon, IDEX teamed up to develop dual-interface biometric cards.