IDEX Biometrics has partnered with KONA I to deploy biometric payment cards globally across both recycled PVC and metal cards.
The firms said in a statement that an initial order for IDEX Pay has been shipped to KONA I, a smart card and technology platform company in South Korea.
According to recent global survey from Edgar, Dunn & Co more than 50 % of consumers prefer a physical payment card for in-person purchases versus a digital wallet or cash
The survey revealed customer demand for metal payment cards to be particularly strong across emerging economies like in Turkey, India and Brazil where the growing middle class is increasingly pursuing premium products and experiences.
The deal taps into KONA I’s production capabilities which includes an annual production capacity of more than 60 million cards. The company provides a range of smart card products including metal cards and other special material cards. Its certifications include Visa, Mastercard, JCB and American Express while it serves banks and issuers globally
Catharina Eklof, Chief Commercial Officer at IDEX Biometrics said: “We are thrilled to bring true innovation to the high-net-worth customers banking segment, combing innovation and security with high performing biometric cards from KONA I. By partnering with KONA I, we are enabling banks and issuers with revolutionary card solutions giving the banks an opportunity to bolster brand loyalty, attract new customers and stickiness with existing ones.”
Chung-il Cho, CEO of KONA I, added: “Our collaboration with IDEX Biometrics and the global introduction of biometric cards represent a compelling opportunity as we build out our industry-leading biometric card product line. This partnership is our response to the growing demand of banks and issuers for differentiated and innovative payments.”
