• Biometric payment card technology provider IDEX Biometrics’ Chinese partner Hengbao Corporation (Hengbao) has received China UnionPay’s certification to commercialize Hengbao’s biometric payment cards in China. The certification was obtained on the back of the card being tested by China’s Bank Card Test Center, which concluded that it met China UnionPay’s interoperability standards.

• IDEX Biometrics’ proprietary biometric fingerprint matching algorithm features in Hengbao’s card, and therefore, IDEX’s sales reach should benefit from this certification.

• IDEX and Hengbao have partnered for around three years (September 2018) since they revealed they were working together on a dual interface biometric card. 

<ul><li> Analyst QuickTake: Just last week, Visa and Mastercard issued letters of approval (LOAs) for Idemia’s second-generation biometric payment card platform, “F Code”, which features IDEX Biometrics’ "TrustedBio” fingerprint solution. Leading card networks' approval of IDEX's partner cards should benefit its sales expansions in the future, given China UnionPay, Mastercard, and Visa have a combined share of around 90% of all card payments globally.</ul>