StockNews.AI
IDBA
StockNews.AI
204 days

First commercial launch of biometric payment cards in Japan with LIFE CARD and IDEX Biometrics

1. IDEX Biometrics partners with LIFE CARD to enter the Japanese market. 2. Biometric payment cards will launch in Japan by mid-2025. 3. Japan has 314 million issued credit cards, driving cashless transactions. 4. LIFE CARD aims to enhance innovation and attract more customers. 5. The partnership enhances security and convenience in payment solutions.

6m saved
Insight
Article

FAQ

Why Bullish?

The introduction of biometric payment cards in Japan could drive significant growth for IDBA, as it positions them in a crucial Asian market.

How important is it?

The article highlights a strategic partnership that could significantly impact IDBA's market position and revenue potential in a major global payment market.

Why Long Term?

Successful adoption of biometric cards may strengthen market share and revenue over the long term, reflecting past expansions leading to company growth.

Related Companies

LIFE CARD
January 27, 2025 07:02 ET  | Source: IDEX BIOMETRICS ASA Oslo, Norway and Tokyo, Japan - 27 January 2025 – IDEX Biometrics enters a new market, together with LIFE CARD, Japan’s most innovative credit card issuer. This marks the market introduction of biometric payment cards in Japan. LIFE CARD is targeting commercial deployment in the first half of 2025. Japan is one of the largest payment markets in Asia, with a very advanced acceptance landscape which is ready for biometric smart cards. Credit cards have emerged to become the most popular alternative to cash in Japan, with 314 million cards issued. Accounting for more than 80% percent of cashless transactions, credit cards are used far more than any other digital payment instrument in Japan1. As a credit card issuer of Visa and Mastercard, LIFE CARD is commercializing premium, corporate and student card programs. Biometric payment cards will be a key differentiator and amplifier as LIFE CARD continues to lead innovation in the market. “LIFE CARD provides innovative, secure and frictionless payment solutions to our growing consumer base. Introducing the latest biometric technology and security to the Japanese market, will reinforce our market positioning, as we attract new customers and increase transactions and customer lifetime value” says Keiji Masui, President at LIFE CARD. "LIFE CARD and IDEX Biometrics are bringing more seamless and secure payments to consumers, confirming Japan’s technology and innovation leadership in payments. IDEX is committed to make card payments easier, more secure and accessible for Japanese consumers", shared Catharina Eklof, Chief Executive Officer at IDEX Biometrics. 1Source: Statista For further information contact: Marianne Bøe, Head of Investor Relations, + 47 91800186Kristian Flaten, CFO, +47 95092322 E-mail:ir@idexbiometrics.com About IDEX BiometricsIDEX 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, please visit www.idexbiometrics.com About LIFE CARD Co., Ltd.Since its inception in 1952, LIFE CARD has been at the forefront of pioneering advancements in Japan's credit system. Leveraging its rich legacy of expertise and industry insights, LIFE CARD is dedicated to providing unparalleled support and service toits partners as well as customers.As a proud member of the esteemed AIFUL Group, one of the largest non-bank financial institutions in the nation, LIFE CARD remains steadfast in its commitment to driving financial inclusivity and empowerment across diverse sectors. Through synergistic collaborations within the group, LIFE CARD endeavors to spearhead the development of multifaceted financial ecosystems, catering to the evolving needs of its partners and clientele. For more information, please visit www.lifecard.co.jp Trademark StatementIDEX, 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 discloses inside information pursuant to the EU Market Abuse Regulation and was issued by Marianne Bøe, Head of Investor Relations, on 27 January 2025 at 13:02 CET on behalf of IDEX Biometrics ASA. The notice is published in accordance with section 5-12 the Norwegian Securities Trading Act.

Related News