Idex Biometrics has been moving aggressively into the Asian market for biometrics payment and smart cards, announcing a new manufacturing partner just weeks after revealing a deal to supply Idex Pay to Bangladesh’s Mutual Trust Bank. Chief Commercial Officer Catharina Eklof tells Biometric Update in an email that Idex’ deal with Mutual Trust represents a big opportunity, as it is one of the country’s top 10 banks.
Debit card transactions increased by 50 percent last year in Bangladesh, Eklof says, and the potential for growth as unbanked people enter the formal financial system is enormous. Idex Pay is certified by Mastercard, but Eklof declined to confirm the payment network the cards issued by Mutual Trust will use.
