IDEX Biometrics has achieved a significant milestone with its IDEX Pay product by securing certification from Visa.
This endorsement comes under Visa’s latest VBSS biometric payment application criteria. The IDEX Pay biometric card solution features the company’s proprietary card operating system paired with the latest technology fingerprint sensor, which includes Infineon’s high-performing SLC38 secure element.
Obtaining the Visa certification marks a pivotal achievement after rigorous biometric performance testing. It assures compliance with the payment scheme’s stringent functional and security standards. This certification paves the way for IDEX Pay to be rolled out at scale across the Visa payment network, which boasts over 3 billion cards globally and holds a dominant position in crucial growth markets across APAC, Latin America, and Africa.
Furthermore, IDEX Pay has already been certified by Mastercard, enhancing its credibility and market reach. Several card manufacturers have either already obtained or are in the process of finalizing their Mastercard Letter of Approval. With Visa and Mastercard combined, they account for 64% of the 687 billion annual payment transactions worldwide, thus ensuring extensive global coverage for the IDEX Pay solution.
IDEX Biometrics’ CEO, Catharina Eklof, highlighted the achievement, stating, “IDEX Biometrics is spearheading the industry, being among the first to deploy a certified biometric solution based on the Visa payment applet. We are hereby affirming our biometric solution’s compliance with highest security and functionality standards to card manufacturers and banks worldwide.”
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