IDEX Biometrics, in partnership with Hitachi Payment Services and Airtel Payments Bank, has launched India’s first RuPay biometric payment card at the Global Fintech Fest in Mumbai. This groundbreaking solution utilizes advanced fingerprint authentication to enhance security and inclusivity in digital payments, aligning with the Reserve Bank of India’s recent regulatory approval for biometric verification.
The biometric RuPay card integrates IDEX Pay, IDEX Biometrics’ proprietary biometric smart card technology, enabling seamless fingerprint authentication as a second factor (AFA) for digital transactions. Unveiled at the Global Fintech Fest in Mumbai, this launch coincides with the Reserve Bank of India’s (RBI) September regulatory update, which greenlights biometric methods to bolster security in the payments landscape. The card promises a more intuitive and fraud-resistant experience, addressing the needs of India’s expanding digital economy.
The solution is now in pilot testing phase, with IDEX Biometrics, Hitachi Payment Services, and Airtel Payments Bank collaborating to expedite commercial deployment. This initiative highlights IDEX Biometrics’ dedication to the RuPay network, a cornerstone of India’s card payments infrastructure, and positions the partners to capitalize on the country’s rapid growth in secure payment adoption.
“The RBI’s AFA update in September was a watershed moment for the Indian payments industry,” said Anders Storbråten, CEO of IDEX Biometrics. “We are well-positioned, alongside our Indian and global partners, to lead the adoption of biometric payment cards across RuPay, Visa, and Mastercard networks. Launching the first RuPay biometric card at the Global Fintech Fest is a proud achievement for IDEX and our partners.”
This partnership embodies a collective drive toward inclusive financial solutions, empowering millions of users with convenient, biometric-secured transactions while fostering innovation in India’s payments ecosystem.
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
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