IDEX Biometrics partners with KONA I to launch biometric cards globally
October 26 2023 - 2:10AM
Oslo, Norway – 26 October 2023 – IDEX Biometrics partners with
KONA I, a global smart card and technology platform company in
South Korea, to deploy biometric payment cards across both recycled
PVC and metal cards, for their bank clients world-wide. An initial
order for IDEX Pay has been shipped to KONA I.
KONA I manufactures smart card products, with an annual
production capacity of more than 60 million cards. KONA I holds a
vast number of certifications, including Visa, Mastercard, JCB and
American Express, and serves banks and issuers globally. The
company provides a range of innovative smart card products
including metal cards and other special material cards.
Biometric metal cards are in demand by both challenger and
traditional banks. They are expected to revolutionize premium card
programs as banks begin offering them to their affluent customers
in early 2024.
More than 50 % of consumers prefer a physical payment card for
in-person purchases versus a digital wallet or cash, confirms a
recent global survey from Edgar, Dunn & Co. The survey points
to an unmet demand for metal payment cards. The customer demand is
especially strong across emerging and developing economies where
the growing middle class is pursuing premium products and
experiences such as in Turkey (86%), India (85%) and Brazil
(82%).1
"We are thrilled to bring true innovation to the high-net-worth
customers banking segment, combing innovation and security with
high performing biometric cards from KONA I,” said Catharina Eklof,
Chief Commercial Officer at IDEX Biometrics. “By partnering with
KONA I, we are enabling banks and issuers with revolutionary card
solutions giving the banks an opportunity to bolster brand loyalty,
attract new customers and stickiness with existing ones."
"Our collaboration with IDEX Biometrics and the global
introduction of biometric cards represent a compelling opportunity
as we build out our industry-leading biometric card product line.
This partnership is our response to the growing demand of banks and
issuers for differentiated and innovative payments,” said Chung-il
Cho, CEO of KONA I.
1Source: Edgar Dunn survey, 2022 (18.000 respondents across 18
markets)
For further information contact:
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com 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 KONA I
KONA I Co Ltd (KRX: 052400), a company based in South Korea, is
a global smart card and technology platform provider focusing on
providing smart cards, payment solutions and services for the
financial, banking and public sectors. The company aims to
contribute to society with technology and innovation in the area
where the security is most critical, including but not limited to
IOT, smart cards, and authentication.
For more information, visit www.konai.com
TRADEMARK STATEMENT
IDEX, IDEX Biometrics and the IDEX logo are trademarks owned by
IDEX Biometrics ASA. All other brands or product names are the
property of their respective holders.
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