New market launch of biometric payment cards in South Asia with IDEX Biometrics

Oslo, Norway, 13 May 2024 – Another milestone for IDEX Pay as we open a new market in South Asia, with an innovative challenger bank.  This will be the first launch of biometric payment cards in this country at scale.  

With digitization as a core focus, the bank considers biometric payment cards a key enabler to accelerate digital adoption. Biometrics fits perfectly into the bank’s strategy of differentiating through technology innovation, as they provide responsible financial services to all, enabling economic progress.  

Today Asia accounts for close to 75% of all global payment transactions, surpassing Europe and North America, and taking a global lead in payment technology1. Card expansion is growing faster in Asia-Pacific than in other regions, as consumers shift away from cash and toward digital payments.  IDEX continues to execute on its strategy to open biometric card markets in Asia one country at a time.     

"IDEX Biometrics is bringing more seamless and secure payments to consumers as the digital transformation reshapes the region", shared Catharina Eklof, Chief Commercial Officer of IDEX Biometrics. "Our strong base of card manufacturers in South Asia, combined with IDEX Pay market customized implementation programs, are enabling accelerated adoption of biometric payments." 

1 NMI 2024 Payment Trends Report 

For further information contact 
Marianne Bøe, Head of Investor Relations 
E-mail: [e-mail]  
Tel: + 47 918 00186 

About IDEX Biometrics 

IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. 

For more information, visit www.idexbiometrics.com 

About this notice 

This notice discloses inside information pursuant to the EU Market Abuse Regulation and was issued by Erling Svela, Vice president of finance, on 13 May 2024 at 09:25 CET on behalf of IDEX Biometrics ASA. The notice is published in accordance with section 5-12 the Norwegian Securities Trading Act.