Eastern Bank in Bangladesh announces the world’s first biometric metal card
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Eastern Bank (EBL) in Bangladesh recently unveiled the upcoming rollout of a new product for its premium customers — the world’s first biometric metal card.
The bank expects that the card will be ready for launch in 2024. It will be supplied by Idex Biometrics, and it already received full Mastercard certification earlier this year, in August.
The world's first biometric metal card is on it's way to consumers 🚀
EBL, based in Bangladesh, is launching #biometric #metal #cards, powered by IDEX Biometrics Mastercard-certified technology, and expected to reach consumers early 2024.
Read more 👉 https://t.co/pxktH0IFFZ pic.twitter.com/qGf4murFyi
— IDEX Biometrics (@IDEXBiometrics) December 19, 2023
How will the card work?
Describing the card, the bank said that it comes with the Idex biometric sensor, card inlay with antenna, a Linxens EMV2 module, including Infineon’s SLC38B secure element, as well as IDEX card operating system. It will be extremely simple to use, as all that customers need to do is place their thumb on the sensor, which will enable tap-and-pay transactions at any checkout.
EBL’s managing director and CEO, Ali Reza Iftekhar, commented on the launch of the new product, saying that the EBL team is very excited to introduce biometric metal cards to their customers. He noted that the card is in regulatory compliance with all requirements in Bangladesh and that it will be the first entity to offer this technology.
The card uses cutting-edge tech from Idex Biometrics, and it will offer a first-class payment experience, as the Dhaka-based bank’s CEO explains. “We believe biometric payment cards will become the new payment standard, supporting secure contactless payments and ultimately bringing financial empowerment to all,” he added.
EBL continues to contribute to the development of Bangladesh
Eastern Bank PLC is known as the market leader in retail, corporate, and SME banking. As a digital innovator, EBL has been providing high-quality banking services and cutting-edge financial solutions quite consistently.
It is also a major contributor to a government-launched initiative known as Smart Bangladesh. The initiative has been a driving force behind inclusive, multifaceted digital economic development. Bangladesh itself has developed quite a track record in terms of development and growth, with a robust demographic dividend, stable macroeconomic conditions, and resilient remittance inflows.
All of this contributed to supporting rather fast economic growth over the past several decades. In fact, the country is expected to see GDP growth of 6% in 2024, which would allow it to outperform some of its neighbors, including the Philippines, Indonesia, and even India, which has been developing rapidly, itself.
The new card will initially only be available to the bank’s premium users. In addition to all the mentioned features, it will also offer the highest security level, a seamless payment experience, and it will be an ideal tool for users who wish to have a distinctive, exclusive payment solution, especially if they lead dynamic, tech-savvy lifestyles.
IDEX Biometrics’ Chief Commercial Officer, Catharina Eklof, commented on the upcoming launch of the card, stating that the company is honored that EBL has selected their firm as a partner.
