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IDEX Biometrics’ Sensors Featured in Digital RMB Hardware Wallet Trials by the Postal Savings Bank of China

IDEX BIOMETRICS ASA
·2-min read

Oslo, Norway – 15 February 2021 - IDEX Biometrics ASA, a leading provider of advanced fingerprint identification and authentication solutions, today announces that IDEX’s fingerprint sensors and biometric software have been included in digital RMB (digital Renminbi currency) trials launched by the Postal Savings Bank of China. This digital RMB initiative is the only legal digital currency in China.

IDEX technology is included as part of a so-called hardware wallet which is enabled for both online payments via payment network but can also support payments without a network. As part of the digital RMB initiative, these hardware wallets will be especially beneficial to certain parts of the population, such as the elderly, who can use digital RMB without the need for a smartphone, thereby helping to narrow the digital divide in financial services.

This trial features a dual-use card which serves as a digital healthcard card in addition to being used for digital RMB payments. This demonstrates the ability to deploy biometric cards that serve multiple applications for consumers and service providers.

“This Digital Currency Electronic Payment, DCEP, trial by Postal Savings Bank of China is exciting on many levels,” said Vince Graziani, CEO, IDEX Biometrics. “It not only demonstrates the value of biometric cards for digital currency initiatives globally, but also demonstrates our vision that a single biometric card will ultimately have multiple applications that require highly secure digital identity for individuals. These new applications have the potential to drive massive deployment of biometric cards world wide.”

For further information contact:

Marianne Bøe, Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 9180 0186

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