IDEX Biometrics ASA and Reltime AS are pleased to announce a strategic partnership „to jointly develop and market the world’s first next-generation, Web3 biometric payment card including cold storage and digital asset wallets, combined with digital identification,” according to the press release.
This all-in-one, EMV compliant biometric payment card is anticipated to reach the market in the first half of 2023.
The biometric solution based on IDEX Biometrics sensor technology will enable EMV1 compliant payments alongside Reltime’s global Web3 financial ecosystem’s unique “check-out” feature. Securing fiat and digital asset transactions with an extra, secure layer of authentication, the smart card will also include other unique features.
The Web3 market is estimated to reach USD 81.5 billion in 2030, with rapid advancements in blockchain technologies as well as a shift in data ownership towards users as key drivers2.
Furthermore, working in tandem the companies plan to offer several white-labelled B2B2C solutions, including Reltime’s FastTrack to Web3, which can be offered to financial institutions, telecommunications companies, fintech firms, and other parties that wish to enter the Web3 space.
“Reltime is delighted with this new strategic collaboration with IDEX Biometrics,” says Peter Michel Heilmann, CEO of Reltime. “We see unlimited potential and opportunities by bringing this important, biometric, Web3 feature to Reltime’s Layer 1, Proof of Authority ecosystem in 150 countries. With this truly unique card, we are, in fact, solving three of today’s challenges facing our global financial tribe of people and businesses—cold storage, payments and identity—giving them peace of mind from being hacked, scammed, or ripped off. The card also fits perfectly in our FastTrack to Web3 offering, providing companies with thousands of clients and large organisations with millions of customers the opportunity to enjoy the same benefits that Reltime’s current global, trusted, high-performance, Web3 platform is bringing to market.”
“The IDEX Biometrics collaboration with Reltime creates new opportunities for payment cards and digital authentication, bringing additional markets and new revenue streams,” says Vince Graziani, CEO of IDEX Biometrics. ”We are looking forward to working with Reltime to jointly develop and bring to market more innovative biometric technology solutions in response to evolving consumer demand for all-in-one smart cards and solutions safeguarding digital assets, and securely storing them offline.”
1 Short for Eurocard, Mastercard, and Visa.
2 CAGR (2021-2030): 43.7 per cent. Source: Emergen Research, Web 3.0 Market.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
