Biosmart Granted Mastercard Letter of Approval for IDEX Pay Biometric Cards
By Dominic Sow · 26 November 2024
Global smart card technology company Biosmart has obtained the Letter of Approval (LoA) from Mastercard for its biometric payment card built on the IDEX Pay platform. Biosmart can now move to industrialized production of biometric payment cards.
Biosmart is a Korea based manufacturer with an annual production capacity of 50+ million payment cards. Biosmart is a trusted partner of leading banks in Asia, Middle East, Europe and USA.
IDEX Biometrics differentiated and optimized fingerprint biometrics platform enables manufacturing partners to serve banks with biometric payment cards which are accepted on all EMVCo compliant payment terminals across the globe.
“Making payments easier and more secure for consumers with biometric payment cards, based on the leading technology from IDEX Biometrics, represents a massive opportunity. The interest from banks in the region underpins the commercial opportunity ahead of us” says Henry Kang, Chief Sales Officer at Biosmart.
“Congratulations to Biosmart on this Mastercard approval for biometric payment cards, this strategic innovation product fits well with Biosmart’s fintech customers across the world,” comments Catharina Eklof, Chief Executive Officer at IDEX Biometrics. “Secure and frictionless payments contribute to transaction and retention increase, critical to banks in today’s competitive payment landscape.”
About the companies
IDEX Biometrics
Website · 20 stories on FF News since 2021
Previously on FF News:
- IDEX Biometrics Receives IDEX Pay Order for VISA Biometric Cards in MEA 21 February 2025
- KONA I Granted Mastercard Letter of Approval for IDEX Pay Biometric Cards 20 February 2025
- IDEX Biometrics Appoints New Chief Financial Officer 1 November 2024
Companies in this story: IDEX Biometrics
People in this story: Catharina Eklof