IDEX Biometrics ASA today announced that Mastercard has fully certified IDEMIA Group’s F.CODETM biometric smart card platform, secured by IDEX Biometrics’ TrustedBio® fingerprint authentication solution.
This is an important achievement for IDEX Biometrics, as
IDEMIA is now able to begin high-volume deployment of its best-in-class F.CODE
payment card to meet the increasing market demand for fingerprint authenticated
payment cards.
The Letter of Approval (LOA) issued by Mastercard gives
assurance to the payment ecosystem that the biometrically-authenticated F.CODE
payment card will seamlessly be accepted across Mastercard’s global network,
increasing security for millions of consumers, merchants, and issuers.
According to the Nilson Report, Mastercard has approximately
2.5 billion cards in current circulation, a figure that is expected to grow by
29% over the next five years.
Vince Graziani, Chief Executive Officer of IDEX Biometrics,
commented, “Completion of the Mastercard certification process by our partner
IDEMIA, is another significant achievement for IDEX Biometrics.
We now have certified biometric solutions with the top three
global payment networks, allowing for deployment of biometric cards, together
with our integration and issuer partners, at a rapid pace to over 15 billion
consumers.
We are happy that our TrustedBio solution is contributing to
the ground-breaking performance and cost profile of our partner’s biometric
payment card platform.
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