IDEX Biometrics and KL HI-TECH to launch biometric payment cards in India
18 Septiembre 2023 - 1:53AM
IDEX Biometrics and KL HI-TECH to launch biometric payment cards in
India
Oslo, Norway, 18 September 2023 – IDEX
Biometrics and KL HI-TECH, a global card manufacturer and prominent
provider of secure printing products and smart cards for central
and state governments, have joined forces to introduce biometric
payment cards to the Indian market. With an annual production
capacity of 36 million dual-interface payment cards, KL HI-TECH
holds certifications in various ISO classes and is accredited by
Visa, Mastercard, and RuPay. KL HI-TECH's client portfolio includes
major banks across India and Asia. KL HI-TECH biometric cards are
expected to start reaching bank consumers in the first quarter of
2024.
P Srinivas Rao, Chairman & CEO of KL HI-TECH, remarks, "The
convergence of a thriving smart card market and the rapid adoption
of biometrics in India presents a remarkable opportunity for
biometric cards. We anticipate swift growth in the biometric
payment card market and have full confidence that IDEX Biometrics
technology leadership, innovative capabilities, and go-to-market
strategy will drive market adoption to the advantage of consumers
throughout India and Asia."
Catharina Eklof, Chief Commercial Officer of IDEX Biometrics,
adds, "India leads the world in biometric authentication solutions
for digitalization and boasts one of the fastest-growing payment
card markets globally, with nearly 1 billion cards in circulation.
The Indian market holds immense potential for biometric payment
cards, and KL HI-TECH's robust market positioning and extensive
bank and issuer portfolio will further bolster its growth."
For further information contact:Marianne Bøe,
Head of Investor
RelationsE-mail: marianne.boe@idexbiometrics.comTel: +
47 918 00186
About IDEX BiometricsIDEX Biometrics ASA (OSE:
IDEX) is a 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 or unlock devices 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.
For more information, visit www.idexbiometrics.com
About KL HiTechKL HI-TECH is since 1988 a
leader in innovation and manufacturing of products that enables and
eases day-to-day lives, focusing on six main sectors – banking,
government, national identity and security, telecom, transport and
education.
At its state-of-the art manufacturing facility located in
Hyderabad, India the company has served over 500 clients across 52
countries. Operating under the highest standards of security, the
organization is certified in several classes of ISO and by Visa,
Mastercard and RuPay.
For more information, visit www.klhitech.com
About this noticeThis notice was published by
Erling Svela, Vice president of finance, on 18 September 2023 at
08:55 CET on behalf of IDEX Biometrics ASA.
TRADEMARK STATEMENTIDEX, IDEX Biometrics and
the IDEX logo are trademarks owned by IDEX Biometrics ASA. All
other brands or product names are the property of their respective
holders.
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