Major UAE bank launches biometric payment card on IDEX Biometrics sensor technology

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Oslo, Norway – November 1, 2022 – IDEX Biometrics ASA announces that one of the largest banks in the Middle East has rolled out a large-scale biometric payment card launch with IDEX Biometrics partner IDEMIA, powered by IDEX sensor technology Biometrics. This launch is the first volume deployment of biometric payment cards to consumers in the Middle East, confirming the commercial acceleration expected in 2022, and a market shift in 2023.

The Middle East is one of the fastest growing regions for card payments in the world. In numerous market studies, customers around the world have indicated high interest in biometric payment cards, with over 70% indicating interest and willingness to pay for a biometric payment card. Cardholders welcome more banks to meet their needs for convenient and secure payment alternatives, offering unlimited contactless payments, secured by the user’s unique fingerprint.

“IDEX Biometrics’ revolutionary sensor solution brings seamless payment experiences to more consumers. The biometric payment card powered by IDEX Biometrics is certified by Visa and Mastercard and will work perfectly with any payment terminal. We are excited to bring our innovative technology to our customers and, together with IDEMIA, to support banks in the Middle East as they accelerate the market rollout of smarter and more secure card payments,” said Vince Graziani, CEO of ‘IDEX Biometrics.

For more information, contact:Marianne Bøe, Head of Investor Relations [email protected] Tel: + 47 918 00186

About IDEX Biometrics

IDEX Biometrics (OSE:IDEX and Nasdaq:IDBA) is a leading provider of fingerprint identification technology providing simple, secure and personal authentication for everyone. We help people make payments, prove their identity, access information or unlock devices with the touch of a finger. We invent, design and market these secure, yet incredibly user-friendly solutions. Our total addressable market represents a rapidly growing multi-billion unit opportunity.

For more information visit www.idexbiometrics.com

TRADEMARK STATEMENTIDEX, IDEX Biometrics and the IDEX logo are registered trademarks owned by IDEX Biometrics ASA. All other brand or product names are the property of their respective owners.

This information is subject to the disclosure requirements in accordance with section 5-12 of the Norwegian Securities Act.

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Source: IDEX BIOMETRICS ASA

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