IDEX Biometrics introduces biometric payment cards in India

28 Aug 2024 09:00 CEST

Oslo, Norway, 28 August 2024 - IDEX Biometrics is bringing biometric
authentication onto payment cards for the Indian market, together with a
worldwide leader in payment services. India boasts more than 1 billion payment
cards in circulation and has been a frontrunner in biometrics for many years.

Live user experience and technology testing for the IDEX Pay biometric payment
cards has been conducted with our Indian payment service partner, giving
excellent results, and proving that biometric payment cards can be deployed in a
seamless and secure manner throughout India. Newly published research(1)
indicates that more than 90% of affluent consumers in India want biometric
payment cards.

The Reserve Bank of India (RBI) is driving out secure digital payments and is in
consultation with Indian banks to mandate alternative multi-factor
authentication methods for digital payment transactions. This includes biometric
authentication and specifically fingerprints. The payment landscape in India is
set to change.

With an opportunity to grow contactless payments from current low adoption
levels of 16%, the biometric card represents a new secure and convenient payment
solution for India. The biometric authentication is performed directly on the
payment card, no change to existing payment terminals and infrastructure is
needed. Equally important, the IDEX Pay technology ensures cardholder's
biometric data never leaves the card, confirming highest level of security and
privacy for the consumer. IDEX Biometrics will be present at the Global Fintech
Fest in Mumbai on August 28-30, 2024 for live demonstrations, you are welcome to
join us at booth K20-22-23.

"We are committed to bringing more secure payment solution globally, with India
and South Asia in focus. The user-friendly card solution from IDEX Biometrics
supports acceleration of payment digitization in India, while ensuring that all
aspects of market deployment are considered," says Catharina Eklof, Chief
Executive Officer of IDEX Biometrics.

(1) Arlington Research for IDEX Biometrics, August 2024

For further information contact:
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com
(https://www.globenewswire.com/Tracker?data=rkgcatcBoWPEMgWuMjJo7UeqmFaUP-
2q6NdVnf7hWAs1jVoHGnVyzdNlgXpm8DaLAGQ066AJ95NTspNt6j-
MMm91y4hkYP8oVC7ciqbdzHyxkRXEotoTYvjHybr0WJrP)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=BH-L2BSyLxkXYAc-Va1tCwihBe7E8h6-
7E68b-g2VDjyYnc2Hp4_Z1fD9Zhy5zgCva4Dek2W4Jlz0YeUo19_R5v5ld5Dc1jUvA0tRRsS-lQ=)

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 was issued by Marianne Bøe, Head of Investor Relations, on 28 August
2024 at 09:00 CET on behalf of IDEX Biometrics ASA.

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