Oslo, Norway, and Dubai, UAE, November 2023 – Toppan Gravity, a wholly-owned subsidiary of the Toppan Group and a leading solutions provider in the secure payment and identity industries, is pleased to announce its collaboration with IDEX, a global technology leader in fingerprint biometrics. Together, the two companies are introducing biometric cards equipped with an advanced fingerprint authentication payment solution.
Approximately six billion payment cards are issued annually worldwide, and this evolution spans decades1. Beginning with chip and pin in 1985 2, it took 22 years for the introduction of contactless technology in 20073. Fast forward 16 years and biometric authentication is aimed at being seamlessly integrated into payment cards, marking the latest advancement. Recognized as a pivotal development in payment security and convenience, biometric payment cards are poised to become the next significant milestone. With adoption on the rise, it appears that 2023 is set to witness the widespread deployment of this innovative solution4.
Toppan Gravity and IDEX are attuned to the growing demand for this trusted and user-friendly payment solution. Securing an annual production surpassing 30 million payment cards, Toppan Gravity serves over 500 private and public banks, governments, and corporations worldwide. The forthcoming biometric smart card will enhance Toppan Gravity’s banking and identity offerings, bringing biometric smart cards to the Middle East, Africa, and Latin America. The target is to introduce these biometric cards to the market by the first quarter of 2024.
“We are committed to meeting the growing global demand for biometric payment cards. By harnessing the power of IDEX Biometrics’ state-of-the-art technology platform, we are poised to redefine payment convenience,” says Michael Hraschan, Head of Payments at Toppan Gravity. “This partnership marks an exciting chapter as we collaborate to advance secure payments and digital authentication, reinforcing our commitment to driving innovation in the ever-evolving landscape of financial technology.”
Commenting on the partnership, Catharina Eklof, Chief Commercial Officer at IDEX Biometrics, states, “Toppan Gravity with its strong offering across products and solutions for government agencies, financial institutions, telecom operators, and retailers is well positioned to accelerate the expansion of biometric smart cards,” She continued, “We are excited to collaborate with Toppan Gravity, empowering markets worldwide with secure payments and digital authentication.”
For further information, please contact:
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 918 00186
Mona El Baz, VP of Marketing & Communications
E-mail: mona.elbaz@toppangravity.com
Tel: +971 56 511 9832
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Sources
1 Nilson Report
2 Forbes
3 Deloitte
4 Fintech Global
About IDEX Biometrics
IDEX 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, visit www.idexbiometrics.com.
About The Toppan Group
Established in Tokyo in 1900, the TOPPAN Group is a leading and diversified global provider committed to delivering sustainable, integrated solutions in fields including printing, communications, security, packaging, décor materials, electronics, and digital transformation. The TOPPAN Group’s global team of more than 50,000 employees offers optimal solutions enabled by industry-leading expertise and technologies to address the diverse challenges of every business sector and society and contribute to the achievement of shared sustainability goals.
For more information, visit www.holdings.toppan.com/en/or contact www.linkedin.com/company/toppan/
About Toppan Gravity
Toppan Gravity is a subsidiary of Toppan Leefung, serving as the international development arm of the TOPPAN Group in the security domain. Being part of the most prestigious conglomerate in the industry with decades of experience and multiple well-known references, Toppan Gravity benefits from the TOPPAN Group’s strong market position and extensive expertise.
As a global solutions provider primarily focused on the payment and Identity industries, Toppan Gravity aims to develop the next generation of virtual and physical security documents. With the vision of becoming the forerunner in the secure ID and payment industry, the company focuses on driving synergies within the TOPPAN Group, through strategic acquisitions. Toppan Gravity empowers promising companies having state-of-the-art technology or businesses in emerging markets, including Asia, Africa, and Latin America to enhance their overall performance. Furthermore, the company enables its acquisitions to take advantage of the opportunities presented by its large, diversified group having numerous resources and extensive know-how.
For more information, visit www.africa.toppangravity.com | www.toppangravity.com or contact info@toppangravity.com.
