POSTED : 14,05,19 - 6:36 pm

OSLO, NORWAY- 14 May 2019 - The Annual General Meeting in Zwipe was held today. Enclosed are the Minutes of Meeting from the Annual General Meeting.


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For more information, please contact: 

Lisbeth Breum, CFO

+47 932 28 126

lisbeth@zwipe.com

POSTED : 09,05,19 - 8:34 am

BEIRUT, LEBANON – 09 MAY 2019 – Biometric technology company Zwipe and Inkript, a digital security provider and a subsidiary of Resource Group, have partnered to launch biometric payment cards.


Inkript’s state-of-the-art manufacturing facilities in Lebanon and Saudi Arabia are certified by Visa and Mastercard for EMV cards production. The company caters for customers across the Middle East, Africa and Europe, and has shipped over 70 million smartcards in 2018, making it one of the largest card manufacturers in the region.


Speaking of this partnership, Hisham Itani, Chairman and CEO of Resource Group said “we are pleased to launch our partnership with Zwipe to cater to the growing demand of secure banking cards in the region. Biometric payment cards add a valuable layer for secure payments and banks are keen to have this innovative product. He added “Our partnership with Zwipe, a proven technology leader in this emerging market, is introducing a cutting-edge biometric solution to financial institutions in the region and we are happy to be among the first movers.”


Zwipe and Inkript will collaborate technically and commercially to bring biometric payment cards to market. Several banks have expressed interest to pilot the offering, with the first pilots expected to launch before the end of 2019.


Commenting on this important partnership, André Løvestam, CEO of Zwipe said “we are excited to partner with Inkript to introduce and deploy our technology with their customers. Based on the positive feedback from the successful pilots in the region, we are confident that the market is primed for growth.”


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About Inkript


Inkript is a digital security solutions provider catering to governments, telecom operators and financial institutions in the MEA region. The company’s growth is driven by an extensive R&D and continuous investments in emerging technologies. Inkript is distinguished by its state-of-the-art factories, technology competence centers, customized integrated solutions and international certifications covering processes, quality and security.


Media Contact for Inkript: Ghina Ramadan, +9611412000 ext. 2931, gramadan@resource.group


Media Contact for Zwipe: André Løvestam, CEO, +47 930 44 040 info@zwipe.com

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POSTED : 29,04,19 - 9:44 am

OSLO, NORWAY – 29 APRIL 2019 – Zwipe's CEO André Løvestam presented at two different investor events last week in Stockholm, Sweden. Please see the presentation that was held at RedEye at the link here which is in Norwegian/Swedish. Please see the presentation that was held at PROHearings at the link here. The PROHearings presentation is in English.


To view the presentation deck see the link here.


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For more information please contact ir@zwipe.com

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POSTED : 23,04,19 - 3:15 pm

 OSLO, NORWAY- 23 April 2019 - The board of directors of Zwipe AS (the “Company”) calls for the annual general meeting to be held at the premises of Advokatfirmaet Simonsen Vogt Wiig AS at Filipstad Brygge 1, 0252 Oslo, Norway on 14 May 2019 at 13:00 CET. Please find enclosed the notice of the annual general meeting. The notice and the Company’s annual report for 2018 is available on the Company’s website www.zwipe.com.


Notice of attendance, in person or by proxy, shall be given no later than 13 May 2019 at 16:00 CET. Shareholders are encouraged to register this electronically through the company’s website www.zwipe.com. Alternatively, the attached form may be sent by e-mail to genf@dnb.no, or regular post to DNB Bank ASA, Verdipapirservice, NO-0021 Oslo.


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For more information, please contact:

Lisbeth Breum, CFO

+47 932 28 126

lisbeth@zwipe.com
POSTED :

Q1 2019 highlights and recent developments



  • -Continued focus on securing a leading position within biometric payment cards through partnerships with stakeholders covering the biometric payment card value chain, including card manufacturers, global payment schemes, issuers and financial institutions

  • -Participation in the majority of ongoing biometric payment card pilots in collaboration with partners in Europe and the Middle East

  • -New partnerships secured in Europe and Latin America, expanding technology reach and commercialisation potential within biometric payment card market

  • -NOK 120 million capital raise and subsequent admission to trading on Oslo Stock Exchange’s Merkur Market completed in January 2019

  • -Organizational development with new CTO and opening of a European Tech Hub based out of Munich, Germany


Status and outlook



  • -Zwipe is at the forefront of a global shift towards more secure and convenient contactless payments and the market is primed for growth. The company’s ambition is that Zwipe’s industry leading technology and partnerships will secure a strong market position.

  • -On 21 January 2019, Zwipe announced the successful completion of a NOK 120 million capital raise from an offering of new shares. The offering was substantially over-subscribed, attracting strong interest from institutional and professional investors as well as retail investors in Sweden and Norway. The capital raise was conducted to strengthen the company’s financial position and fund the further development and commercialization of the company's technology. On 28 January 2019, Zwipe was admitted to trading on Oslo Stock Exchange’s Merkur Market under the ticker symbol ZWIPE-ME. These were important milestones for Zwipe, as the company seeks to capitalise on its first mover position in the biometric payment marketplace and as the payment industry moves towards bringing biometric payment cards to consumers.

  • -Payment card pilots remain an integral part of Zwipe’s go-to-market strategy and a vehicle to verify and showcase Zwipe’s competitive position. Zwipe’s technology was featured in 12 out of 17 biometric payment card pilots announced during 2018, with positive preliminary feedback from pilot stakeholders. There are currently 11 biometric payment card pilots featuring Zwipe’s technology: Intesa Sanpaolo pilot in Italy with Gemalto and Mastercard; and pilots with 10 banks across the Middle East with Areeba, Gemalto and Visa.

  • -As the market for biometric payment cards matures, new and existing players are scaling up their operations in anticipation of large-scale commercialization of biometric payment cards. Zwipe regards this trend as positive because it accelerates market development and opens a host of new opportunities for Zwipe. Furthermore, Zwipe believes that the availability of multiple credible suppliers is a prerequisite for the market to take off.

  • -Zwipe partnered with TAG Systems to target European-based challenger banks that are expected to be among the first movers in the market for biometric payment cards. Zwipe also partnered with Thomas Greg & Son do Brasil, one of Latin America’s largest card manufacturers, to co-develop and launch biometric payment cards in the Latin American markets.

  • -Late February, VP Program and Supply Chain Management, Eric Mercer, was appointed CEO of Zwipe America Inc and part of Zwipe’s management team.

  • -In April, Zwipe announced the appointment of Dr. Robert Mueller as its Chief Technology Officer. Dr. Mueller joins Zwipe with over 20 years’ experience in senior technical development positions focusing on biometrics and smart card technology at leading companies such as Siemens, Giesecke+Devrient and BMW. His most recent role was serving as Chief Technology Officer at Next Biometrics.

  • -Zwipe also established a European tech hub, which will complement the company’s existing research and development center in Colorado Springs, USA. Based out of Munich, the new hub will add further expertise to Zwipe on biometrics, algorithms, payment card integration, enrolment solutions and product management.

  • -A new solution for the JavaCard-based operating system was announced in April, further broadening the company’s scope in meeting various customer preferences and needs in the biometric payment card marketplace. With a broader product portfolio, Zwipe is uniquely positioned to be able to offer products that address both Multos and Java.

  • -A pilot featuring Zwipe’s at-home enrolment for the first time is planned to start late Q2 2019. Ensuring simple, effective consumer enrolment and activation of biometric payment cards will be key to driving commercialization.

  • -Zwipe contributed to the Wearable Summit at World Mobile Congress in March, arranged by Zwipe partner Tappy Tech, highlighting that Zwipe also aims to develop a range of solutions for banks, including biometric wearables and digital services (card not present).

  • -Zwipe’s revenues in Q1 2019 were negligible. Average monthly operational cash burn throughout Q1 2019 was NOK 5.3m for a total in Q1 2019 of NOK 15.9m, primarily related to personnel expenses and IP protection. Total cash burn in the quarter, including extraordinary expenses related to fundraising activities and debt repayment, was NOK 46.4m. Total cash balance as at 31.03.2019 was NOK 82.8m.

  • -In April, Zwipe received NOK 10m out of a total NOK 23m grant awarded through EU’s Horizon 2020 program. Another NOK ~1.5m is expected to be paid out in 2019, with the residual expected to be paid out in 2020. Zwipe expects to receive a NOK 5m grant from the Norwegian government in Q4 2019 as a result of the approval of Zwipe’s grant application (“Skattefunn”) in Q4 2018.

  • -Monthly operational cash burn is expected to increase going forward as Zwipe continues to execute on its Generation NxT program, developing its organization and supply chain in preparation for biometric payment card commercialization. Zwipe expects to remain fully funded through 2019 and into 2020.


André Løvestam, Chief Executive Officer at Zwipe, said:


“Throughout the first quarter, we have continued to execute on our Generation NxT program, focusing on technological and supply chain advancements and cost reductions, making sure we have a competitive offering available as the industry is moving forward towards making biometric payment cards an offering to paying consumers. We have also made progress in ongoing pilots and continuously gained valuable feedback, enabling us to develop our products’ performance and functionality to even better meet the needs of the marketplace. We remain dedicated to ensuring continuous organizational improvements, which will be a vital differentiating factor as we move towards the large-scale, commercial adoption of biometric payment technology.


A strong and diverse partner ecosystem will also be increasingly important going forward. We see a trend that stakeholders across the value chain are branching out to multiple partners to reduce dependency on single partners or technologies, and we expect banks, payment networks and card manufacturers alike to secure at least dual-sourcing of their solutions for continuity of supply and general risk mitigation.


The feedback we have received and the experiences we have gained as supplier of inlays to the absolute majority of battery-less contactless biometric payment cards pilots to date, as well as the improvements we have achieved in both improving performance and reducing manufacturing cost for our Generation NxT-based inlay, which is our solution for the certification process and the anticipated subsequent roll-out of commercial biometric payment cards, make us confident that we remain well-placed to be a leading supplier of inlays in this phase.


Throughout the first quarter, we continued to strengthen our market position by building new important strategic partnerships, supporting our long-term ambition of catering to the unique needs of different regions.


The scale and scope of the opportunity we face is continually confirmed with increasing interest from stakeholders globally and we remain confident in Zwipe’s strong position in the biometric payment card value chain as we continue on our mission of making convenience secure.”


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POSTED : 16,04,19 - 1:00 pm

OSLO, NORWAY – 16 APRIL 2019 – Biometric technology company Zwipe announces a proprietary JavaCard operating system (OS) solution compatible with multiple global payment network applets. The solution is integrated with Zwipe’s biometric engine and is relevant for biometric payment cards, wearables and other ultra-low power payment and biometric applications.


In the biometric payment card marketplace, the primary operating systems in use are Multos and Java. Speaking on the JavaCard OS solutions development, André Løvestam, CEO of Zwipe, said “With this announcement, Zwipe is uniquely positioned to be able to offer products that address both Multos and Java, further broadening the company’s scope in meeting various customer preferences and needs in the biometric payment card marketplace” adding “several of our already announced partners will use our JavaCard enabled biometric payment solution and we have received interest from multiple other card manufacturers to integrate it into their payment card offerings”.


Zwipe’s biometric payment platform features the company’s biometric engine and power management systems located on a flexible inlay which is integrated inside a traditional payment card by card manufacturing partners. This platform is seamlessly integrated with JavaCard OS and multiple payment applets found on the card’s secure element.


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POSTED : 09,04,19 - 1:00 pm

SAO BERNANDO DO CAMPO, BRAZIL – 9 APRIL 2019 – Biometric technology company Zwipe and Thomas Greg & Sons do Brasil (TGS), reference in Technology Solutions, Services of Identification and Printing of Security Documents in Brazil and in the world, one of the largest card manufacturers in Latin America with 55 million cards produced in 2018, have agreed to co-develop and launch biometric payment cards.


Commenting on this strategically important development President of Thomas Greg & Sons do Brasil, Hernani Finazzi said “We are excited to partner with Zwipe and leverage their industry leading expertise and intellectual property to be a first mover in Brasil with a product we believe has a strong value proposition to our customers, some of the region’s most established and fasted growing issuers.”


TGS intends to utilize Zwipe’s technology platform in bringing their biometric payment cards and other associated solutions to market. Development has begun with integration of the TGS payment card platform with Zwipe’s proprietary biometric technology with the first joint products planned for release in 2019.  The two companies also confirmed that there are multiple banks in Brazil who have already engaged in serious dialogues to trial the solution.


Speaking on this important partnership André Løvestam, CEO of Zwipe said “ We are proud to partner with a leading and innovative first mover like TGS and looking forward to collaborating on new opportunities in Latin America and beyond.”


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About Thomas Greg & Sons do Brasil


The group Thomas Greg & Sons established in Brazil in 2000 to serve the Brazilian security printing market. In its almost 20 years of operation, the company has consolidated as one of the largest companies in the segments of Security Prints, Solutions, Smart Cards, Identification Systems and Traceability. Currently, the group is present in thirteen countries, with more than 10,000 employees. In Brazil, it has a branch in eleven states providing the national driver's license, identity card with automated biometric identification system, vehicle ownership document, traceability stamps, diplomas, electoral system, smart cards, among others.


To learn more, visit www.thomasgreg.com.br


Media Contact for Thomas Greg & Sons do Brasil: Hernani Finazzi, CEO, +55 11 2666.8821, vendas@thomasgreg.com.br


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POSTED : 05,04,19 - 1:19 pm

OSLO, NORWAY - APRIL 5, 2019 - Zwipe CEO, André Løvestam, presented at the Goode Intelligence Biometric Summit yesterday at Rise New York. He shared Zwipe's views on how biometric payment cards and biometric enabled wearable devices will help further expand the prevalence of contactless payments.  There was strong emphasis on customer and user experience by many of the different participants, representing a wide range of biometric modalities from iris to fingerprint recognition. What was clear at the summit is that the marketplace is open and there is definitely an appetite for biometric solutions, across verticals, because they are becoming ubiquitous in people's daily lives.


The common message is the importance of simplicity and security, confirming the value of Zwipe's mission; "making convenience secure".


See the presentation here Zwipe Goode Intelligence Summit Presentation


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POSTED : 04,04,19 - 4:00 pm

OSLO, NORWAY - 4 April 2019: Reference is made to the notice sent on 12 March 2019 for extraordinary general meeting on 11 April 2019 at 13:00 CET.


After issuance of the notice, the board have received a request from two shareholders for additional items to be included in the agenda for the extraordinary general meeting.


Enclosed you will find an addendum to the notice of the extraordinary general meeting relating to the shareholders request as applicable to their shareholder rights, which relates to:




  • - Alternative proposal related to the proposal to establish a nomination committee

  • - Alternative proposal related to the proposal to amend the articles concerning notice period

  • - Election of two new board members in addition to the existing board members

  • - Proposal related to an instruction to the board concerning the strike price on issued options


As stated on the notice sent 12. March; notice of attendance, in person or by proxy, shall be given no later than 10 April 2019 at 16:00 CET. Shareholders are encouraged to register this electronically through the company’s website www.zwipe.com or through VPS Investor Services (where pin code and reference number is not needed). Alternatively, the attached form may be sent by e-mail to genf@dnb.no, or regular post to DNB Bank ASA, Verdipapirservice, NO-0021 Oslo.


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For more information, please contact:


Lisbeth Breum, CFO


+47 932 28 126


lisbeth@zwipe.com


 

To sign up to our notification service, please use the link here
POSTED : 02,04,19 - 8:00 am

OSLO, NORWAY – 02 APRIL 2019 – Biometric technology company Zwipe and TAG Systems Group, a leading European card manufacturer announced a partnership to launch a commercial biometric payment card offering that will include a secure at-home enrolment solution.


TAG Systems is the primary card manufacturing partner for a large number of financial institutions based in Northern Europe and is a leading provider of a multitude of products for the major European based challenger banks that have seen rapid growth in the last 18 months.


Commenting on this major development in the growing biometric payment card marketplace Jon Neeraas, CEO of TAG Systems, said “we are excited to launch this partnership with Zwipe leveraging their expertise and intellectual property in this emerging product vertical” adding “we work with some of the world’s largest and fastest growing challenger banks and see their capability to launch new products in high volume, we believe financial institutions can embrace this biometric payment card technology and successfully scale up.”


TAG Systems’ subsidiaries throughout Europe including TagNitecrest in the UK, will support the commercialization of the solution by integrating Zwipe’s proprietary biometric technology platform by utilizing their expertise in card manufacturing, personalization and fulfillment services.


Speaking on this partnership André Løvestam, CEO of Zwipe, said “TAG Systems is one of most prominent card manufacturers in the Nordics and a first mover and leading supplier to European challenger banks. I am confident that this collaboration will further strengthen Zwipe’s position in the growing biometric payment marketplace.”


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About TAG Systems
TAG Systems is evolving the way the payment industry moves, by seamless supply of ready-ade payment cards throughout all European countries. Our fast-growing company with more than 300 employees in Andorra, Spain, Poland, UK and Norway make sure we deliver high quality products and services to financial institutions.


Media Contact: Olga Baro, +376 358 321 obaro@tagsystems.net