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China UnionPay Awards Second LOA to Biometric Payment Card Featuring IDEX Biometrics’ Fingerprint Sensor & Biometric Technology

IDEX BIOMETRICS ASA
·2-min read

Oslo, Norway – 12 February 2021 - IDEX Biometrics ASA, a leading provider of advanced fingerprint identification and authentication solutions, today announces that China UnionPay (CUP) has issued a second letter of approval (LOA) for a biometric payment card that contains IDEX’s fingerprint sensor and biometric solutions. The card is manufactured by Goldpac Group Ltd. (Goldpac).

The LOA is the formal acknowledgement by CUP that a product or service demonstrates compliance to all relevant requirements. This enables world-wide interoperability with ATMs and point of sale terminals as well as durability, reliability and security assurance. With this formal LOA, Goldpac and local banks can move forward with biometric card issuance.

This is the second biometric card certification, using IDEX’S fingerprint sensor and biometric solutions, issued by CUP, which will provide even more choice for card-based payment solutions.

“CUP is the largest payment network in the world, supporting more than half of all cards issued on the global brand networks. This second LOA is a yet another critical step to driving mass adoption,” said Vince Graziani, CEO, IDEX Biometrics.

For further information contact:

Marianne Bøe, Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 918 00186

Derek D’Antilio, Chief Financial Officer
E-mail: derek.dantilio@idexbiometrics.com
Tel: +1 978 273 1344

About IDEX Biometrics

IDEX Biometrics ASA (OSE: IDEX and OTCQB: IDXAF) 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. We invent, engineer, and commercialize these secure and safe 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 @IDEXBiometrics.

TRADEMARK STATEMENT

The wordmark ‘IDEX’ and the IDEX logo are registered trademarks of IDEX 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