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order represent a value of $1.4 million, with delivery starting in the fourth
quarter of 2024. The multi-year agreement sets Vasmobile up to scale across
Kenya in 2025 and further expansion into other parts of Africa as of 2026.
Today Vasmobile is offering payment card solutions to schools with the support
of the M-Pesa payment network. This new school ID will be upgraded to a
biometric smart card, incorporating the IDEX biometric technology, including
biometric solution, card operating system, and applets developed by Vasmobile.
This is a world first use case for biometric smart cards. These cards will
securely manage access to school facilities, campus payments for books and
meals, attendance monitoring and health insurance.
By upgrading the SkoolID cards with IDEX technology, Vasmobile will offer the
extra protection and trust for students to safely move away from using cash and
get more comfortable with payment cards. With more than 3 million students in
Kenya and with 60% of Africa’s total population under the age of 25, students
are an important demographic group that drives the adoption of financial and
digital inclusion.
“We are excited to partner with IDEX Biometrics to transform education and
healthcare in Africa. At Vasmobile, we’re dedicated to bettering lives and
communities through impactful technology-driven solutions. IDEX Biometrics has a
unique and high performing end-to-end platform for biometric cards, that allows
us to add our own applets in a very cost-efficient way. Our strategic and
exclusive partnership will transform the access to financial wallets and
education while serving as the endorsed national student identity card,” says
Bryan Mwangi, CEO of Vasmobile.
“This commercial agreement with Vasmobile brings IDEX Biometrics to Kenya as a
new market. We are excited about the biometric African School ID for Kenyan
students, meeting a global need,” says Catharina Eklof, Chief Executive Officer
at IDEX Biometrics. “With a visionary partner like Vasmobile, biometric smart
cards are bringing inclusive payments and ID solutions to millions of students
in the Global South”.
For further information contact:
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com (mailto:marianne.boe@idexbiometrics.com)
Tel: + 47 918 00186
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint
biometrics, offering authentication solutions across payments, access control,
and digital identity. Our solutions bring convenience, security, peace of mind
and seamless user experiences to the world. Built on patented and proprietary
sensor technologies, integrated circuit designs, and software, our biometric
solutions target card-based applications for payments and digital
authentication. As an industry-enabler we partner with leading card
manufacturers and technology companies to bring our solutions to market.
For more information, visit www.idexbiometrics.com
(https://www.globenewswire.com/Tracker?data=5T5Cd4J5_qZkC47X9TXOtpdWJp5fRzHrXspB
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About Vasmobile Fintelco Ltd
Vasmobile Fintelco is a computer and software company, also reselling value-
added financial and telecommunication services. With a mission to empower the
next generation with knowledge and skills, transforming the world into a
sustainable future while being an innovative tool for the empowerment of the
next generation.
For more information, visit www.vasmobile.africa (http://www.vasmobile.africa)
Trademark statement
IDEX, 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.
About this notice
This notice discloses inside information pursuant to the EU Market Abuse
Regulation and was issued by Marianne Bøe, Head of Investor Relations, on 2
September 2024 at 08:50 CET on behalf of IDEX Biometrics ASA. The notice is
published in accordance with section 5-12 the Norwegian Securities Trading Act.
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