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IDEX Biometrics enters agreement with Eastern Bank PLC (EBL)

Biometric Payments

Nov 29, 2023

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Biometric Payments

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Nov 29, 2023

IDEX Biometrics enters agreement with Eastern Bank PLC (EBL)

Partnerships

IDEX Biometrics, a fingerprint sensor manufacturer, has signed an agreement with Eastern Bank PLC (EBL) to jointly launch a biometric metal card solution in Bangladesh.
The partnership aims to provide EBL's premium customers with these contactless cards, assisting EBL's role in driving seamless payments within Bangladesh and across Asia. Moreover, IDEX stated that the cards will be made available to these customers by early 2024.
Analyst QuickTake: IDEX has established multiple partnerships this year to encourage the use of biometric payment solutions in the Asian region. This includes securing an initial order for IDEX Pay from an undisclosed smart card manufacturer in Asia (November) and partnerships with South Korean KONA I (October), Taiwanese Beautiful Card Corporation (July), Hong Kong’s Goldpac Fintech (July), and Bangladesh’s DoelPay (May).

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