post-1925
POSTED : 04,06,18 - 7:33 am

AMSTERDAM, NETHERLANDS,  4 JUNE, 2018 - According to a research study completed by market research agency Motivaction, over 1000 respondents throughout the Netherlands representing a diverse range of participants from 18 to 65 years of age and older expressed their perceptions of contactless payment and biometrics as part of a study comissioned by Zwipe.


 



  • The Dutch like to use contactless payment, but want to do it safely, with most participants expressing concerns surrounding security

  • 50% believe that paying with biometrics will be the future of banking

  • Zwipe is the first to offer battery-less fingerprint recognition technology for payment cards


Contactless payment was introduced to the Netherlands in 2013.  Many Dutch consumers have been issued dual-interface payment cards and are using payment applications on their smartphones to complete contactless transactions where available. When completing a contactless transaction a consumer simply needs to present their card within close proximity to the payment terminal in order to complete the payment. To limit fraud and appease initial consumer concerns surrounding contactless, banks have imposed transactions limits. In the Netherlands card payments of more than 25 EUR require a PIN code, in addition to some older cards requiring a PIN code after five transactions below the limit. Most merchants and retailers support the latest payment terminal technology allowing for contactless payment.


The core findings support conclusions that Dutch people, young and old, find contactless payment convenient. On the other hand, the safety of contactless payment is still a concern, with over 60% fearing contactless skimming and close to 40% believing that it is not secure enough in general. With that in mind, half of the respondents surveyed want their current bank to offer fingerprint authenticated contactless payment as quickly as possible.


Developing innovative solutions that address this challenge is  Zwipe, a pioneer in the field of biometric technology and a leading innovator that has developed a unique technology platform that is embedded in battery-less dual-interface biometric payment cards that are currently being piloted by VISA in multiple regions.


"The research clearly shows that contactless payments in the Netherlands is something that Dutch consumers want," says André Løvestam CEO of Zwipe. "However, security has always been a concern. The fact that you still have to enter a PIN code when completing larger transactions amounts at the moment of payment makes the experience less frictionless and makes the average consumer hesitate to use it in the first place. Zwipe is the first to have developed an innovative and secure solution for integrating fingerprint recognition on payment cards, making the customer journey more frictionless and more secure simultaneously. This allows banks, who are competing like never before, an opportunity to offer their customers the best of both worlds: the ease and speed of contactless with stronger security."


Zwipe is presenting its unique technology offering at during Money20/20 Europe, from 4 to 6 June in the Amsterdam RAI.


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For further comments, please contact:


Ado Fazlic, VP Marketing: ado@zwipe.com, +47 930 44 040

POSTED : 24,05,18 - 3:00 pm

OSLO, NORWAY – 24 May 2018, at the Annual General Meeting (AGM) of Zwipe AS held May 22 2018, Jörgen Lantto was elected as the new Chairman of the Board of Directors, replacing Clas Thelin. In addition, Kim Humborstad, Dorian Barak, Francis van den Bosch, Johan Biehl and Dennis Jones were elected as new board members. Dorian Barak will replace Dr. Lui Ruopeng as board representative for the company’s largest shareholder, Kuang-Chi. Kim Humborstad will act as Deputy Chairman. Lars Windfeldt, Espen Tøndel and Weizi Huang were re-elected.


The new board has substantial combined industry and financial experience and will support Zwipe and its leadership team’s execution of a sharpened strategy focused on commercial success and growth as it integrates its technology platform within the biometric payment cards market first and then into other verticals, services and form factors such as wearables and IoT devices. Together with an ecosystem of partners including global brands within security, financial services and IDs, Zwipe is on a mission of ‘Making Convenience Secure™’ for a wide range of industries and technology form factors.


Below follows a short description of the newly elected Chairman and Board members:


Jörgen Lantto


Mr. Lantto has been a member of Zwipe’s Board of Directors since November 2016 and is a key strategic advisor working closely with the company’s management to shape the path Zwipe takes moving forward. He is the former CEO of Fingerprint Cards AB, one of Zwipe’s key partners supplying  fingerprint sensors. At Fingerprint Cards he also served as CTO and head of strategy and product management. Mr. Lantto has also held a range of senior executive positions at global ICT company Ericsson.


Kim Humborstad


Kim Humborstad founded Zwipe in 2009 (then OrigoID) and worked as its CEO until February 2018, at which time he transitioned to a new role as  Chief Growth Officer (CGO) at Zwipe. As CGO he is focused on identifying new business and technology integration platforms for Zwipe. Mr. Humborstad is the winner of several awards, including but not limited to FERD-award for highest international potential and FinTech award for innovation in payments. He holds a BS in Innovation and Entrepreneurship from Telemark University College.


Dorian Barak


Mr. Barak is a seasoned private equity investor and fund manager. He is the CEO of Indigo Global, a capital advisory firm, and serves on the boards of directors of companies active in the technology, natural resources and aviation sectors. He is an Executive Director of Kuang-Chi Science Limited and chairs its international activities, which include investments in technology companies in North America, Europe and Israel. He was formerly MD and Head of International M&A at Israel’s largest financial group, attorney with Skadden Arps in New York and Consultant with The Boston Consulting Group (BCG). Mr. Barak holds a J.D. from Yale Law School, an M.A. from Oxford University and B.A. from UCLA.


Francis Van den Bosch


Francis Van den Bosch serves in several advisory and board roles with start-up companies in the field of technology for the retail banking and payments markets. During the first 15 years of his career he held a number of Sales and Marketing Management roles in the consumer banking sector of Citibank, covering both European and the US markets. He worked as general manager for MasterCard Europe, followed by a global CEO role to set up the global debit POS and ATM system Maestro. Afterwards he headed up a Brussels based company (MCE) that specialized in management development services to international companies.


Johan Biehl


For the last seven years, Johan Biehl, founder and CEO of Biehl Invest AB, has spent most of his time working as a private investor and trader. In addition, he is a member of the board and Investment Manager at Feat Invest AB. Mr. Biehl is focused on small- and micro-cap investments and today has several investments in listed and unlisted companies predominantly in the tech industry. He also has prior experience as an equity research analyst with Remium Nordic AB covering micro-cap companies and has held several positions in B2B sales and sales management. Mr. Biehl holds a degree in finance from Stockholm University.


Dennis Jones


Mr. Jones is the former Chief Operating Officer of TSYS Issuer Solutions, a US-based global payment processing company, prior to which he was the Chairman of Paysafe PLC, a UK-based FTSE 250 global payments company. Mr. Jones holds extensive experience in the fintech, payments and payment processing sectors, having held Executive and Board positions in the UK as Chairman of MasterCard UK Ltd and various Executive roles with RBS and NatWest. He also has experience from the US as Director, President and CEO of RBS National Bank and as a Non-Executive Director of Argus Information Services and Kroger Personal Finance. In addition, Mr. Jones worked in China as an Executive Director of the credit card joint venture between RBS and the Bank of China.


Following these changes, the new Board of Directors consists of the following members:




  • Jørgen Lantto (chairman)

  • Kim Humborstad (deputy chairman)

  • Lars Windfeldt

  • Espen Tøndel

  • Weizi Huang

  • Francis van den Bosch

  • Johan Biehl

  • Dorian Barak

  • Dennis Jones


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For further comments, please contact:

Lisbeth Breum, CFO: lisbeth@zwipe.com, +47 93 22 81 26

Ado Fazlic, VP Marketing: ado@zwipe.com, +47 930 44 040
POSTED : 15,04,18 - 10:00 am

DUBAI, UNITED ARAB EMIRATES – 15 APRIL 2018Digital security world leader Gemalto and biometric technology company Zwipe have partnered with areeba, a financial and payment technology company in the Middle East and Africa, with the support of Unilux Cards, to pilot Visa’s first battery-less dual interface biometric payment card (chip- and contactless-enabled) in the Middle East.


The biometric payment card will be presented by areeba & Visa in partnership with Gemalto and Zwipe, during Seamless Middle East in Dubai. The pilot aims to test the use of fingerprint recognition as a more convenient and secure alternative to PIN or signature to authenticate the cardholder during a transaction.


Commenting on the agreement, Maher Mikati, CEO of Areeba, said: “areeba is committed to investing in new capabilities that deliver better & more secure payment solutions; using fingerprint technology to authenticate a person for payments will provide cardholders a faster, easier and more secure payment process compared to the traditional use of PINs.  We are proud to partner with Visa, Gemalto and Zwipe to run this pilot program in the Middle East and make this innovative product available for financial institutions who are keen to integrate biometric technology into their payment cards to enhance convenience and reduce fraud.”


Nathan Cushnie, Visa’s Head of Digital Solutions for MENA, commented: “Just last month, we released findings from our survey[1] of UAE consumer attitudes towards biometrics which revealed that 98 per cent of consumers surveyed in the UAE are keen to use biometrics such as fingerprint recognition for payments. The pace of digital transformation in the region is opening up new opportunities for innovation, and our partnership with areeba marks another milestone in our commitment to introducing secure and convenient technology that more and more consumers across the region want.”


Commenting on this newest partnership, André Løvestam, CEO of Zwipe said: “We are proud to partner with leading financial and payment technology companies like areeba who share our first mover vision when it comes to making payments more secure and convenient.” He adds: “We have seen a major surge in interest for our market leading battery-less dual interface biometric payment technology especially in the Middle East and we are confident that millions of consumers will be using their fingerprints and Zwipe technology to securely authenticate themselves and conveniently complete transactions going forward.”


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[1] 2018 Biometrics Survey commissioned by Visa and conducted by AYTM Market Research. 500 consumers in UAE were surveyed


 

Zwipe PR Contact: Ado Fazlic, ado@zwipe.com, +47 930 44 040

POSTED : 27,02,18 - 8:00 am

OSLO, NORWAY – 27 February 2018, Biometric technology company Zwipe’s Board of Directors has appointed André Løvestam (born 1966) as the company’s new Chief Executive Officer (CEO). He will replace founder and CEO Kim Humborstad from 1 March 2018.


André Løvestam has a strong career comprising several CEO and other executive positions at publicly listed Nordic ICT and FMCG companies, among them Atea, TeleComputing, Tomra and Orkla. He is currently coming from the position as Head of Asia Pacific at The Future Group (TFG), an international media technology company.


Kim Humborstad, who founded Zwipe and has served as the company’s CEO since 2009, will move to a new role as Zwipe’s Chief Growth Officer (CGO). In his new role, Humborstad will work across the key areas that drive growth and support the alignment between customer and partner needs and Zwipe’s marketing, product development and R&D. Humborstad is also expected to join the Board of Directors subject to election at the upcoming Annual Shareholders’ Meeting in March 2018.


“André Løvestam’s experience and expertise are well suited to the strategic goals of Zwipe, including operational scale-up, increased international sales and corporate financing activities. He has a proven track record as an enthusiastic and successful leader, assets that will be of great value for Zwipe” says Chairman of the Board of Directors, Clas Thelin.


“I am also excited that Zwipe’s founder, Kim Humborstad, will continue to contribute to the company’s development, both in an operational role and as a member of the Board of Directors when approved by the general meeting.”


“The Zwipe team has clear values set on delivering great customer experiences, authenticating people across multiple platforms and markets. I’m looking forward to seeing André Løvestam join the team and lead Zwipe’s scale-up in 2018 and beyond”, Thelin continues.


“As the first company in the world to offer a dual interface fingerprint activated card for Financial Services and other markets, using a proprietary biometric engine to perform full ID verification without the use of batteries or fixed power supply, Zwipe is perfectly positioned to reap the benefits of the expected strong growth for biometrics on a global scale. I am delighted to join the competent Zwipe team and look forward to lead Zwipe’s charge ahead based on a clear strategy and ambitious targets”, says André Løvestam.


Commenting on the appointment, Kim Humborstad said “I am tremendously proud of what we’ve built with Zwipe, taking the biometric card concept from an idea to a strong industry position in an emerging global biometrics market. Now I look forward to sharpen focus on market adoption and top-line growth, while supporting André in building the operational machinery and ensuring the financing required to implement Zwipe’s ambitious growth strategy”.


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Further information:


Clas Thelin, Chairman of the Board of Directors  clasthelin@candeo-group.com


André Løvestam, andre@energetic.no


Kim Humborstad, kim@zwipe.com


Lisbeth Breum, lisbeth@zwipe.com

POSTED : 17,01,18 - 1:56 pm OSLO, NORWAY – 17 January 2018, – Biometric technology company Zwipe is pleased to announce that the company in December 2017 raised an additional $1.2 million (NOK 9.6 million) in relation to the $4.3 million (NOK 35 million) private placement of new shares to existing and new investors announced 30 November 2017. This latest round of financing then adds up to $5.5 million (NOK 44.6 million).

The size of the equity capital raise was increased after the extraordinary general meeting held 7 December 2017 to meet demand for shares from existing shareholders.

The latest equity capital round brings the total raised in equity, debt, and grants since inception to $25.6 million (NOK 208 million). Zwipe continues to be owned by both institutional and private investors, in addition to employees and board members. After the transaction, key employees, including the CEO and founder, and board members hold in total 37.2% of the outstanding shares.

 

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Zwipe IR Contact: Lisbeth Breum, CFO +47 93 22 81 26, lisbeth@zwipe.com
POSTED : 05,01,18 - 11:08 am OSLO, NORWAY – 05 JANUARY 2018, – Biometric technology company Zwipe is pleased to announce that they have partnered with Gemalto, the world’s largest card manufacturer, to pilot the first battery-less dual-interface fingerprint activated payment card with Bank of Cyprus.

Gemalto has confirmed multiple upcoming pilots in 2018, with the first of these being with Bank of Cyprus. Commenting on the cooperation, Sylvie Gibert, SVP of Payment Cards at Gemalto said, “We have spent the last 18 months extensively evaluating and confirming the viability of Zwipe’s technology and we are happy that we have now seen great interest from banks all over the world for biometric technology on payment cards, having already identified several issuing banks in multiple regions to participate in the pilot program.”

Fingerprint activated payment cards, are seen as the next major market innovation when looking at card based payments. Consumers will benefit by having a more secure and convenient method of payment that utilizes their own fingerprint to authenticate and complete transactions at checkout. The advanced security enabled by biometrics will remove the need for a 4-digit or longer PIN entry as well as allow for the elimination of transaction limits on contactless payments.  

Commenting on the value of the technology, Kim Humborstad, CEO and founder of Zwipe said “ Many consumers are seeking out ways to avoid having to memorize difficult to remember passwords or PINs. Looking ahead this will be seen as a blast from the past as we continue to integrate the trust of biometrics into payment. Having a more secure method of payment that does not infringe on convenience or consumer privacy is essential. Combining that with the ability to use the card for any type of transaction regardless of amount will make the card top of wallet and top of mind for the consumer.”

Referencing the announcement made by Gemalto, this first of its kind card being piloted by Gemalto and Bank of Cyprus is a fingerprint activated payment card which utilizes Zwipe’s unique energy harvesting capacity and biometric engine to enable the authorized user to complete contactless and contact transactions with the card, without the need for battery power. The card works with existing payments infrastructure as standard point of sale terminals provide the power necessary to operate.

Commenting on this latest cooperation for Zwipe, Kim Humborstad said “receiving Gemalto’s support in bringing our technology to market is a big step for our organization. They have an expansive customer base in every corner of the world and a leading industrialization capacity and know-how required for such innovative products. We share a common vision about the capabilities and capacity of what Zwipe’s technology can offer to banks and consumers moving forward.”

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Zwipe PR Contact: Ado Fazlic, ado@zwipe.com, +47 930 44 040
POSTED : 06,12,17 - 4:13 pm The Biometrics Decrypted Report is a comprehensive global pulse check on the latest developments and deployments of biometric authentication solutions in payment. It was carried out between August and November 2017 utilising comprehensive desk research and interviews with 15 leading international experts from banks, solution providers, analysts and academia.

view the report below in full screen by clicking on the image.


POSTED : 30,11,17 - 10:00 pm

OSLO, NORWAY – 30 November 2017 –Biometric technology company Zwipe is pleased to announce that the company has completed a $4.3 million (NOK 35 million) private placement of new shares to existing and new investors.


“We are pleased that our value proposition – easy, secure and fast authentication – is acknowledged by both our investors and partners, as demonstrated by this capital raise as well as the progress we see in all our verticals, said Kim Humborstad, CEO of Zwipe, before adding:


“As a technology provider with a unique offering, we think we are perfectly positioned in the value chain to reap attractive margins and deliver scalability.”


Zwipe has developed the only commercially available fingerprint activated contactless payment card capable of operating without the need for a battery or fixed power supply.


“Our technology has been developed over the past 8 years, and is applicable to a wide range of verticals, including wearables, IoT, and smart cards,” emphasizes Humborstad.


So far, the company has commercialized two products, Access, and ID cards, which both have near-term revenue potential. In addition, Zwipe has developed a market-ready fingerprint activated payment card, which is widely expected to be the next generation mass market payment solution as confirmed by leading card manufacturers and payment schemes. The payment card is currently undergoing commercial pilots, making it the first such solution in the market.


Among the key milestones for Zwipe going forward, is the continued advancement of cooperation with global payment schemes, completion of pilots with multiple schemes and card manufacturing partners, commercial agreements for commercial deployment of payment cards and large volume contracts for access control.


This latest equity capital round follows Zwipe’s $4.5 million financing earlier this year and brings total raised in equity, debt, and grants since inception to $24 million. Zwipe’s is owned by both institutional and private investors, in addition to key employees and board members. After the transaction, subject to approval by an extraordinary general meeting held 7 December 2017, the CEO and founder, other key employees and board members will hold in total 26.6% of the outstanding shares.


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About Zwipe
Zwipe is a technology company that is making biometrics easy by developing and commercializing award-winning biometric authentication solutions for three key areas: payment, access control, and ID. Zwipe’s versatile technology works with customers’ existing infrastructure and systems without the need for external databases, functioning with and without the need for batteries. The enhanced security enabled by biometrics coupled with the convenience of contactless provides the ideal platform for a next-generation smart card that also addresses the privacy concerns widely prevalent today. To see how Zwipe makes biometrics easy, visit zwipe.com


Zwipe IR Contact: Lisbeth Breum, CFO +47 93 22 81 26, lisbeth@zwipe.com

POSTED : 21,11,17 - 7:36 pm

Toronto, ON, Nov 21, 2017 – G4S, Canada’s leading security solutions company, will now offer its customers the latest in access control solutions thanks to an agreement with Zwipe, a world leader in biometric technology. Zwipe offers the world's smallest and most portable biometric reader, allowing companies to upgrade to dual factor authentication without having to change a single reader or install any additional infrastructure. All solutions function independent of a database, meaning that the user’s biometric information is stored only on the card and nowhere else.


Commenting on the new partnership, Tim Saunders, Chief Business Development Officer, G4S Canada said, "Upgrading to biometric authentication in the past has been seen as expensive and cumbersome, this is why we partnered with Zwipe, no need to change existing infrastructure and quick and easy deployment of biometric access cards that function independent of a centralized database, they do make biometrics easy!"


Zwipe Access is a versatile fingerprint-activated contactless credential working seamlessly with existing 125kHz or 13.56MHz infrastructure, without upgrading or replacing any readers or backend systems. Only after activation by a fingerprint scan will the card allow communication with a reader. Zwipe combines the security of biometric authentication with the speed and convenience of contactless credentials. This solution makes the need for biometric databases, either on external servers or on cloud-based systems redundant, since the biometric data is securely stored on the card itself for each individual user. Only the rightful owner of the card can use it, and the fingerprint data cannot be deleted or extracted from the card.


G4S Secure Integration, a division of G4S Canada, is known in the industry for its proven experience as an established, large-scale systems integrator providing security solutions. G4S will introduce its customers to Zwipe’s biometric access card technology in a collaborative manner that effectively mitigates risk and maximizes return on investment


About G4S Canada


As Canada’s leading provider of security solutions, we offer an integrated security solutions approach. We will assess, integrate, equip and secure your environment. G4S employs thousands of Canadians and operates in offices across the country. For more information on G4S Canada, visit www.g4s.ca


G4S Media Contact: Katie McLeod (Communications) 647-678-5111 media@ca.g4s.com
POSTED : 15,11,17 - 3:30 pm

November 15, 2017 Agoura Hills, California, USA - Chatsworth Products (CPI) has partnered with Zwipe®, a biometric technology company, to deliver a highly secure, easy-to-deploy, dual-factor biometric access control system for data center cabinets with Zwipe Access Cards and CPI Electronic Access Control (EAC) Solutions.


Elevating physical access control at the cabinet level provides a higher degree of security and control over IT assets and helps customers comply with security laws recommending dual factor authentication. Zwipe Access combines the security of biometric authentication with the speed and convenience of contactless credentials in a durable, fingerprint-activated card. By touching the sensor on the card, the card owner verifies their identity, and the positive fingerprint authentication will allow the card to communicate with the reader. The fingerprint data is registered and securely encrypted and stored on the card, and only on the card, so there is no need to maintain and secure a separate back-end authentication database.


“Our unique technology, which directly addresses industry mandates to upgrade user authentication while maintaining their privacy, has been adopted and integrated in a wide range of high security environments, with many data centers around the world already using Zwipe Access as their primary method to enter secure areas. Working with Chatsworth Products, we are confident that our offering will now be available to an even larger market,” says Einar Boije, Sr. Vice President of Access Control at Zwipe.


Additionally, Zwipe Access is fully compatible with the vast majority of existing employee ID systems and CPI’s Electronic Access Control (EAC) Solutions. Together, these solutions deliver a highly secure dual-factor access control solution at a greatly reduced cost over traditional systems that require integration of biometric readers into every cabinet handle.


“We see the need to push security and authentication down to the cabinet level, and believe two-factor, biometric-based authentication is the most secure system available. Our solution offers several options and with our new partnership with Zwipe, we are providing a better solution to the data center community that is easy to use and maintain, as well as reduces the overall cost and complexity of deploying high security to the cabinet level,” states Ashish Moondra, CPI Sr. Product Manager of Power, Electronics & Software.


Additional benefits of Zwipe Access:




  • Recognizes unauthorized card use and eliminates threat of lost cards

  • Compatible with readers for 125 KHz, HID ICLASS and MIFARE® proximity cards

  • Addresses privacy concerns with on card biometric data storage

  • Delivers cost savings, as there is no need to change existing infrastructure to support biometric reading


Zwipe Access is deployed over existing readers, eliminating the high cost of converting readers for biometric scans.


For more information about how Zwipe Access works with CPI’s EAC to provide the highest level of security and accountability, click here.