IDEX Biometrics ASA has received an initial order for IDEX Pay from a smart card manufacturing partner in Asia who will deploy biometric metal payment cards for their bank clients world-wide. Cards produced from this order are expected to reach customers during the first quarter of 2024. With an annual production capacity of more than 30 million cards, this card manufacturer specializes in serving banks globally with a suite of full metal cards, and is certified by Visa, Mastercard and other major payment schemes.

With a total market size of 40 million cards in 2023, the metal card segment is expanding amongst premium customers across Europe (44% projected YoY growth) Latin America (61%) and the dynamic economies of Asia outpacing with 103%. 70% of millennials declare preferring metal cards. Biometric metal cards are expected to revolutionize premium card programs, with strong demand from banks in APAC, Eastern Europe and South America.

IDEX Biometrics differentiated and optimized reference design, IDEX Pay, is particularly well suited for metal cards. Additionally, IDEX Biometrics enables manufacturing partners with product and implementation guidelines.