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Hengbao and IDEX Biometrics partner to introduce biometric smart cards in South East Asia



Oslo, Norway, 21 September 2018: Hengbao, one of the biggest card companies
based in China, covering the banking, telecoms and security sectors, has
announced a partnership with IDEX Biometrics (IDEX ASA), the leading provider of
advanced fingerprint identification and authentication solutions. The two
companies have partnered to introduce contact based biometric smart cards across
the Asian market, with future plans to trial dual-interface cards. Hengbao
supports cards for multiple payment network specifications, including
Mastercard, China Union Pay, VISA, and JCB.

According to market research company ABI Research, the total volume of shipped
smart card for payments in Asia in 2017 was 1.3 billion cards. The annual volume
is expected to increase to 1.8 billion cards by 2022.

Stan Swearingen, CEO of IDEX Biometrics comments, "This is one of the most
significant technologies to enter the smart card market in the past 10 years and
will make the common payment card exciting again. The increasing popularity of
card payments in Asia, in conjunction with the growing preference towards
biometrics, has created the perfect storm for this partnership with Hengbao, a
very influential player in the Asian market.

Simon J Qian, CEO of Hengbao adds, "We are excited to take this first step for
contact-based biometric smart payment cards with IDEX Biometrics in the Asian
market and look forward to announcing trials in the near future. Not only will
this be an industry first for the market, but it is the perfect solution to
address growing consumer demand for greater authentication to facilitate card-
based payments."

Mr. Simoun Ung, President and CEO of OmniPay, a customer of Hengbao, remarked,
"As an issuer of payment cards, our company prioritizes security above all.
There is strong potential for this innovation to improve our product offering,
especially those related to identification, government clearances and travel. We
look forward to working with Hengbao and IDEX Biometrics to develop this
technology into an industry standard and strengthen the authentication standards
of the payment system."

Contact:
Henrik Knudtzon, CFO,
+47 9302 2827, henrik.knudtzon@idexbiometrics.com

About Hengbao
Hengbao is a high-end product and solutions provider that targets the banking,
telecommunications, tax, transport, insurance, security, as well as municipal
construction industries. Our leading business and products include: banking IC
card, telecommunication IC card, mobile payment product, online payment
terminal, magnetic card, password card, ticket, Internet of Things, platform
systems, information security services and solutions. Hengbao is a market leader
and recognized as a new high-tech enterprise that integrates services, R&D,
production and marketing.

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