IDEX Biometrics Selected for Central Bank Digital Currency Solution from Union Smart
September 20 2021 - 02:50AM
Oslo, Norway –20 September 2021 - IDEX
Biometrics ASA, a leading provider of advanced fingerprint
identification and authentication solutions for card-based
solutions, announced today that Union Smart Card Co., Ltd. (Union
Smart), of Shenzhen, China, is utilizing the company’s fingerprint
authentication solution to secure the Cold Wallet Visual Payment
Card. Union Smart has developed this “cold wallet” card solution in
collaboration with six major banks for use in implementation of
China’s Digital Currency/Electronic Payment (DC/EP)
initiative.
Images of card: ColdWalletVisualPaymentCard
IDEX Biometrics is the leading provider of fingerprint
authentication technologies for such secure cold wallet
applications, with competitive advantages in performance and
cost.
Union Smart has leveraged its patented cold sealing card
manufacturing technology to develop a payment card that includes
Bluetooth and NFC connectivity, expanded storage, a display, and a
keypad, in addition to IDEX Biometrics’ authentication solution.
This innovative device represents a complete card-based solution
for supporting payments using digital
currency.
China has a stated goal to be the leading major economy to
displace traditional, central bank backed hard currency with
digital currency. To that end, China will be showcasing initial
deployments of both card-based and phone-based digital wallets
during the Beijing Winter Olympics in February 2022.
The Cold Wallet Visual Payment Card and similar cold wallet
devices offer a secure and convenient alternative to mobile wallets
on smartphones and will also bring digital currency solutions to
the portion of the Chinese population without banking relationships
or mobile phones. “The central bank intends to provide inclusive,
easy-to-use, digital central bank currency for all people, and this
product will be particularly effective in serving the needs of
those in rural areas and underserved groups,” said Jiang Kai, Chief
Executive Officer of Union Smart. “Our new Cold Wallet Visual
Payment Card is the most complete and easy-to-use cold wallet
solution available.”
Vince Graziani, Chief Executive Officer of IDEX Biometrics,
stated, “IDEX Biometrics’ authentication solutions are the natural
choice for card-based digital currency applications. We are
pleased to be partnered with Union Smart in the development of this
device, which should expand secure and convenient access to the
DC/EP initiative across China.”
NOTE: For further information on Central Bank Digital
Currency visit the blog section of our website
www.idexbiometrics.com/blog/
For further information contact:
Marianne Bøe, Investor Relations E-mail:
marianne.boe@idexbiometrics.com Tel: + 47 9180 0186
Brett L Perry, U.S. Investor Relations
E-mail: bperry@sheltongroup.com Tel: + 1 214 272 0070
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and Nasdaq:
IDBA) is a leading provider of fingerprint
identification technologies offering simple, secure, and personal
touch-free authentication for all. We help people make
payments, prove their identity, gain access to information, unlock
devices or gain admittance to buildings with the touch of a finger.
We invent, engineer, and commercialize these secure, yet incredibly
user-friendly solutions. Our total addressable market
represents a fast growing multi-billion-unit opportunity.
For more information, visit www.idexbiometrics.com and follow on
Twitter @IDEXBiometrics
About Shenzhen Union Smart Card Co.,
Ltd.
Founded in 2011 in Shenzhen, China, Union Smart Card Co., Ltd.
is a fully-integrated high-tech manufacturer. Its main
products include smart cards, Bluetooth cards, shielded cards, RFID
tags, and visual electronic tags. With an annual output of
over 100 million cards, Union Smart is in a leading position in the
domestic card manufacturing industry, serving domestic and
international customers across a wide range of industries. With a
focus on research and development in packaging and RF technologies,
Union Smart also is pursuing emerging opportunities in the Internet
of Things. The company holds ISO9001 quality system
certification and ISO4001 environmental management system
certification, being the only cold lamination card manufacturer of
PCBA with the patent No. ZL 2016 1 0452484.2 in China.
Trademark Statement
The wordmark ‘IDEX’ and the IDEX logo are registered trademarks
of IDEX Biometrics ASA. All other brands or product names are the
property of their respective holders.
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
- ColdWalletVisualPaymentCard
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