IDEX Biometrics (IDEX ASA), the leading provider of advanced fingerprint identification and authentication solutions, is pleased to announce that it is in collaboration with Chutian Dragon Co., Ltd (“Chutian Dragon”) and PAX Technology Limited (“PAX”) to accelerate the adoption of biometric payment cards in Asia.
In late 2018 IDEX announced a collaboration with Chutian Dragon, one of Asia’s largest smart card manufacturers. Chutian Dragon and IDEX are now collaborating with PAX, a leading international supplier of secure electronic payment terminal hardware and transactional software services to run real-life EMV compliant transactions of biometric smart cards using IDEX’s SmartFinger® IDX 3200 dual-interface sensor.
Electronic payments have transformed the lives of end users and now with the additional security and convenience that biometrics brings, PAX is actively working alongside Chutian Dragon and IDEX to accelerate this next generation of payment transactions by providing EMV compliant point-of-sale (POS) as a key component for biometric transactions.
Stan Swearingen, CEO of IDEX Biometrics commented: “The biometric smart card market is gathering momentum and to accelerate their mass adoption it is important to ensure interoperability between all elements of the transaction value chain. This is a clear example of IDEX actively driving the creation of this huge potential market.”
Susan Su, CEO of Chutian Dragon adds: “We began our partnership with IDEX last year and now we are delighted to be able to showcase the value of our biometric smart cards with IDEX’s latest dual-interface sensor in realistic payment transactions. This is a significant step forward in bringing biometric payment cards to Asia.
About Chutian Dragon Co., Ltd
Chutian Dragon Co., Ltd (ctdcn.com/en/) manufactures, supplies, and services smart cards and other cards. It offers telecom SIM, telecom phone, VISA smart, MasterCard smart, UnionPay, social security ID, bus travel, scratch, magnetic stripe, dual interface, custom ID, Magstripe, contactless IC, contact smart, custom smart, M2M SIM, and Mifare cards, as well as SIM card envelopes and mobile phone brackets. The company also provides professional smart card and relevant application platform systems and terminal equipment.
About PAX Technology Ltd
PAX Technology Limited (pax.com.cn) is a leading international supplier of secure electronic payment terminal hardware and transactional software services, having sold over 26 million units in over 100 countries worldwide. PAX has comprehensive product lines, strong R&D capabilities, global presence and is ranked as one of the top 3 global payment terminal solution suppliers. The company is listed on the Hong Kong stock exchange as PAX Global Technology Ltd (00327.HK).
About IDEX Biometrics
IDEX Biometrics, legal name IDEX ASA (idexbiometrics.com), is the leading provider of fingerprint identification technologies offering simple, secure and personal 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.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.