IDEMIA Acquires X Core Technologies’ Metal Payment Card Business and Launches Smart Metal Art Offer
17.10.2019 10:40:00 EEST | Business Wire | Press release
At a time when demand for metal payment cards increases, IDEMIA, the global leader in Augmented Identity, broadens its existing offer with Smart Metal Art, a new metal payment card range fully suitable for contactless payments. Smart Metal Art comes from the acquisition of X Core’s metal payment card business and associated patents. Smart Metal Art is designed for the dual interface mass affluent market and is already certified by Visa, Mastercard and Amex.
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In a business environment with both online and offline offerings, metal payment cards have been massively adopted by users representing a booming market. A 2018 global consumer study indicated that more than 50% of consumers are willing to pay for a metal card, 70% of whom are under the age of 351. Fintech firms have nearly all adopted metal payment cards and major banks are also providing metal cards to their high net worth customers.
To satisfy this growing demand while still delivering the convenience customers expect, IDEMIA is investing to expand its leading offer of metal cards and launching Smart Metal Art suite of products. Smart Metal Art is the very first metal payment card fully suitable for contactless payments with no restrictions. It offers endless graphical possibilities thanks to its non-magnetic, decorated metal core, protected by layers that can be transparent or printed.
Smart Metal Art includes patented technology, developed by US firm X Core and recently acquired by IDEMIA. These patents allow for perfect dual interface performance, as well as decoration capabilities, which are then encapsulated within protective layers. Smart Metal Art will be manufactured by IDEMIA in our Exton (Pennsylvania, USA) facility.
At a time when banks need to differentiate strongly from one another, this game-changing technology gives them free reign over their card designs while allowing them to use unrivaled graphics such as etching or a brushed look combined with high-definition coloring techniques on their metal cards.
Thanks to this proprietary technology, IDEMIA will enable even more financial institutions to distribute its latest-generation dual-interface metal payment cards to premium customers, in volume around the world. IDEMIA’s end-to-end contactless metal card offer encompasses design, manufacture, personalization and product packaging.
Smart Metal Art has been certified by Visa, Mastercard and Amex, with no restriction on contactless performance, giving IDEMIA’s clients the opportunity of a very rapid go-to-market for their metal cards.
Amanda Gourbault, Executive Vice-President for Financial Institutions activities at IDEMIA said: “Payment cards are the latest marketing asset for banks for customer acquisition. Acquiring X Core is entirely consistent with IDEMIA’s strategy to offer cutting-edge technology to its customers without ever compromising on security or convenience. Our new offer, Smart Metal Art, delivers the best high-end cards combined with unmatched contactless payment features, which will be a game changer for end-users.”
About IDEMIA
IDEMIA, the global leader in Augmented Identity, provides a trusted environment enabling citizens and consumers alike to perform their daily critical activities (such as pay, connect and travel), in the physical as well as digital space.
Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, an identity that ensures privacy and trust and guarantees secure, authenticated and verifiable transactions, we reinvent the way we think, produce, use and protect one of our greatest assets – our identity – whether for individuals or for objects, whenever and wherever security matters. We provide Augmented Identity for international clients from Financial, Telecom, Identity, Public Security and IoT sectors.
With 13,000 employees around the world, IDEMIA serves clients in 180 countries.
For more information, visit www.idemia.com / Follow @IdemiaGroup on Twitter
About X Core Technologies LLC,
X Core Technologies LLC, is a US based enterprise providing Hot Lamination compatible Prelaminate Core Sheets incorporating advanced electronic functionality for the Payment, Security and Health Care sectors.
For more information, please visit www.X-Coretchnologies.com
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1 Phoenix Synergistic, 2016
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Contact information
For business information, please contact:
Tim Wright, VP Metal Card and Advanced Card Bodies
Timothy.WRIGHT@idemia.com
Press
Hanna SEBBAH - idemia@havas.com
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