IDEX Biometrics partners with XH Smart Tech in China and receives initial order for dual-interface smart card sensors
Oslo, Norway, 31 October 2018: IDEX Biometrics (IDEX ASA) the leading provider of advanced fingerprint identification and authentication solutions, is pleased to announce that it has partnered with XH Smart Tech in China, the leading provider of solutions on IoT and blockchain technologies which are both data user and data centric. The objective is to deploy biometric cards and IDEX has received an initial order for its dual-interface sensor by XH Smart Tech to commence integration.
XH Smart Tech is ranked among the top 5 Chinese smart card vendors by international market share and has shipped more than 3 billion smart cards. The company has successfully passed certification of China UnionPay, VISA, Mastercard, and other smart card industry organizations. XH Smart Tech’s’ customer base includes international and Chinese banks, including Postal Savings Bank of China, DenizBank in Turkey, Commercial Bank of Kuwait, South Africa Laxton, South African Post Office, and Orientfinans Bank in Uzbekistan.
Stan Swearingen, CEO of IDEX Biometrics comments, “We are very pleased with the strong customer interest we are experiencing for our contact-less sensors. Card integrators are seeing the benefits of biometric smart cards, and the market is picking up speed. Chinese vendors are very keen to implement innovative technology, and we are proud to partner with a fast-growing company such as XH Smart Tech to drive commercialization of biometric cards”.
Leo He, CEO of XH Smart Tech adds, “The value proposition for fingerprints in a smart card is easy to understand, and we are confident there will be significant pull from issuers for this innovative solution. IDEX Biometrics’ solution is very compelling and we look forward to working closely with the company to develop biometric smart cards”.
Henrik Knudtzon, CFO,
+47 9302 2827, [email protected]
About XH Smart Tech (China) Co Ltd
Founded in 2011, XH Smart is a NEEQ listed company and global technology leader that provides end-to-end digital security solutions, IoT solution, eUICC provisioning system, personalization system, smart cards and POS terminals.
The company’s vision is to be the global leader in digital security, providing smart secure solutions protecting business and consumer. As a reliable and value - added business partner for Financial & Non-Financial Institutions, Mobile Network Operators & Mobile Virtual Network Operators, Government & Public Sectors, XH Smart’s proven products and services are widely deployed in more than 60 countries covering Europe, Africa, Middle East, Americas, CIS and Asia-Pacific.
For more information, visit it www.china-xinghan.com
About IDEX Biometrics
IDEX Biometrics, also known as IDEX ASA (OSE: IDEX), is the 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, unlock devices or gain admittance to buildings 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 and follow @IDEXBiometrics
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: IDEX ASA via Globenewswire
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