IDEX Biometrics, a fingerprint sensor manufacturer, has partnered with a South Asian smart card manufacturer to deploy smart cards across the globe (primarily in Asia).

The partnership will utilize the smart card manufacturer's accredited status with Visa, Mastercard, RuPay, banks, government agencies, telecom companies, transportation authorities, and corporate enterprises to launch the solutions. The IDEX Pay card should be commercialized by the end of 2024.

Analyst QuickTake: Notably, IDEX has looked to expand its presence in the South Asian region and has established multiple partnerships in Bangladesh. This includes partnering with Mutual Trust Bank last month, Eastern Bank PLC last November, and Bangladesh’s DoelPay last May.