IDEX Biometrics is?accelerating the expansion of biometric payment cards in Turkey with a second regional bank
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IDEX Biometrics has announced?it will be partnering with another Turkish bank to offer biometric payment cards. The product will be already available to consumers in the first half of the year.
In July 2022, the provider of fingerprint identification technology first?launched a biometric payment card program across Turkey in partnership?with leading Turkish card manufacturer E-Kart.
The company conducted market research, revealing that over 80% of consumers in Turkey are interested in biometric payment cards. Besides, Turkey is one of the most innovative and largest payment card markets globally, with more than 250 million cards in circulation and 1.8 million acceptance locations.
Along with Turkey’s expansion, IDEX Biometrics is also exploring the Indian market. The?partnership with?M-Tech will provide Indian banks and other smart card issuers with biometric card solutions. India is one of the world’s fastest-growing payment card markets and is a leader in biometric authentication demand.
The tailored biometric card solutions for various markets will be based on the IDEX Biometrics TrustedBio sensor module and powered by SLC38 from Infineon Technologies.
Placed into a card, a biometric sensor authenticates one’s identity by reading the fingerprint that is associated with the card. At the same time,?the important encrypted biometric data never leaves the card, safely stored within the chip itself.
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Nina Bobro
Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.
