IDEMIA, a leading provider of digital identification technology, is dedicated to advancing financial inclusion through the provision of offline payment solutions.

In an interview with CNBC-TV18, Jerome Ajdenbaum, VP of Digital Currencies at IDEMIA said, "Being able to pay without a connection is really important for financial inclusion. You cannot have connection everywhere, while some people cannot afford a connection. So the idea is to have payment solutions anytime, anywhere. Smart phone penetration in India is at 46 percent of the population. It means that more than half of the population do not have access to smartphones. So what will they do? So offline payment solutions should be available to everyone."

IDEMIA collaborates with more than 600 government entities and over 2,300 corporations spanning 180 countries worldwide.

Ajdenbaum, underscored the importance of a collective industry initiative to realise the potential of offline payment solutions.

Ajdenbaum stressed that safeguarding security and privacy stands as a top priority for offline Central Bank Digital Currency (CBDC) solutions. He highlighted that IDEMIA addresses this concern by implementing chip-based security measures for CBDC solutions.

Watch video for entire discussion.