IDEX Biometrics and M-Tech to scale Biometric Payment Cards in India

30 Nov 2022 08:00 CET

Oslo, Norway and Pune, India - 30 November 2022 - IDEX Biometrics ASA is
bringing biometric payment cards to the Indian market, in partnership with
technology provider M-Tech Innovations Ltd. The biometric payment cards are
expected to reach the market in 2023.

This partnership will provide banks and other smart card issuers with biometric
card solutions for the Indian market, a front runner in biometric
authentication. India is one of the world's fastest growing payment card markets
with close to 1 billion cards issued annually, and with 5 million acceptance
locations(1).

M-Tech is certified by RuPay, Visa and Mastercard, offering high tech end-to-end
smart card solutions for financial payments, access control, and government
identification. The biometric solution is based on IDEX Biometrics TrustedBio
sensor module, powered by SLC38 from Infineon Technologies. The companies will
co-develop innovative solutions for fingerprint registration, tailored to the
Indian market.

Catharina Eklof, Chief Commercial Officer of IDEX Biometrics, says, "The Indian
market represents a very large opportunity for biometric payment cards.
Consumers in India are used to biometric authentication via the Aadhaar
biometric program. The fingerprint solution from IDEX Biometrics uses encrypted
biometric technology which never leaves the card, ensuring speed and reduced
risk of hacking. We are delighted that millions of customers will be able to
benefit from secure and seamless payments through the IDEX Biometrics
collaboration with M-Tech."

"The booming smart card market in India represents an excellent opportunity for
the biometric card solution from IDEX Biometrics", says VM Gandhi, Chairman of
M-Tech. "We see a strong and increasing demand for biometric smart cards.
Adapting the onboarding and registration processes to the Indian market will be
critical, and we are confident in IDEX Biometrics technology leadership and
innovation power to accelerate market adoption for the benefit of consumers
across India."

(1)Reserve Bank of India, 2022
For further information contact:
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 918 00186

About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and Nasdaq: IDBA) 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
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cNdeTiGiOe9X5nN_EuFsBGVq_AbnqoNj8QX584pYmihfWqOchzArkMukbaTPrmImq8ROXtmpb0b3V3ML
JKqY=)

About M-Tech
M-Tech Innovations Limited is a VISA, MASTER Card, RuPay, ISO 9001:2008, TS
16949:2002, ISO/ IEC 20000:2018, CMMI level 3, ISO 14001:2015, IATF 16949
certified company based in Pune, India.
Mtech offers wide range of manufacturing all types of Smart Cards & Smart Card
based Application, Automotive Dials solution and RFID end to end solution.
Today, Mtech is one of the leading suppliers of Smart Card in India and provide
customized solutions based on specific requirements to all segments like
Banking, Government, Corporate, etc

For more information, visit  www.m-techindia.com (http://www.m-techindia.com)

TRADEMARK STATEMENT
IDEX, TrustedBio, 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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