OSLO, NORWAY – 24 July 2020 – Primary insider Diderik Schonheyder, board member at Zwipe AS, has today acquired 5,000 shares at an average price per share of SEK 13,30. Diderik Schonheyder’s shareholding after the transaction is 5,000 shares.
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This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act
OSLO, NORWAY– 6 JULY 2020 – It has been a busy and momentous last few months in the world of biometric payments. I am pleased to see how our partners and customers are strengthening their capacity to deliver next generation contactless payment solutions powered by biometric payments platforms from Zwipe. We observe first-hand an increasing awareness and interest from banks, local card schemes and even retailers that are sharing the view that biometric payments provide significant value to consumers.
What is happening in the marketplace?
Several “1st generation” biometric payment card platforms are now making their way towards the first small-scale commercial launches in 2020. These recent developments clearly signal that this technology will see commercial break-through, representing not only a means for banks to offer “peace of mind” to cardholders and achieve top-of-wallet effects, but also to realize a new source of revenue and value creation.
For fully understandable reasons, the payments ecosystem is by and large conservative, cost conscious and risk averse. This is why the biometric payments market has been long in the making.
Things are now changing, however. At an accelerating pace. Observing how the engagement and proactivity of our partners and the ecosystem are currently growing, I see clear indications that momentum is building, with awareness and interest increasing everywhere.
The team at Zwipe and myself are very excited by this progress.
Here is an overview of our recent major announcements:
It is all coming together
On the supply side, technology advancement, radical cost reduction and scalable production readiness are factors that make biometric payment a feasible proposition. On the demand side, COVID-19 has triggered growing demand and awareness for safe and hygienic payments in the entire society, with transaction limits raised in more than 40 countries worldwide to avoid unnecessary PIN entry and contactless payment rapidly growing everywhere. This builds on the already strong consumer interest for biometric payments before COVID-19, driven by the demand for convenience, security and the “coolness factor” derived from innovative solutions.
Our Zwipe Pay ONE platform is progressing as planned to deliver superior energy efficiency and excellent biometric performance at significantly lowered manufacturing cost thanks to advanced, single-chip innovation. Our confidence that this will be a very compelling proposition has grown further based on the series of recent awards given by smart card manufacturers for Zwipe Pay ONE to power their upcoming biometric payment cards.
Zwipe has pioneered biometric payment card technology and we now see commercial opportunities and engagements developing across the payment ecosystems. We see growing interest from smart card manufacturers, banks, payment schemes and retailers to see how Zwipe can help them to address consumer needs and concerns over contactless payments.
What Zwipe does goes far beyond the technology, it is about helping every stakeholder maximize the value that biometric payments can bring to society. As communicated in our PR on 2 June, we are complementing our collaboration with our direct customers, the smart card manufacturers, by actively stepping up our engagements with banks and neo-banks, as well as new players in card issuance, such as retailers and tech companies. I feel confident that this will accelerate our route to success while creating value for our customers, shareholders, and consumers.
I would like to take the opportunity to thank each member of my great team at Zwipe for their relentless efforts in Making Convenience Safe and Secure. On behalf of everyone at Zwipe, I wish all our customers, partners, shareholders and avid followers a safe and happy summer.
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BOLOGNA, ITALY and OSLO, NORWAY– 1 July 2020 – Biometric fintech company Zwipe and Publicenter, Italy’s largest domestic smart card manufacturer, are pleased to announce the launch of a collaboration aimed at bringing the next generation contactless experience, powered by biometric payment cards and wearables to financial institutions and consumers across Europe.
Publicenter is a VISA and Mastercard certified smart card manufacturer, with over forty years of experience in card production and personalization. It delivers payment, loyalty and gift cards to major banking and retail customers in Italy and Europe.
“We have seen firsthand the potential of biometric payment cards and successful market trials in Italy, run on the Zwipe platform. With many of our customers asking for this product, we are confident that the partnership with Zwipe will be the most cost effective and time efficient route for us to offer this solution at scale” says CEO of Publicenter, Sandro Mucelli.
In Italy, 50% of all POS transactions processed were already contactless* pre-COVID 2019, and, as a result of increased transaction limits and an elevated focus on safety, this has grown since. With businesses beginning to open again, Publicenter plans to engage with customers to promote the value-add of biometric payment solutions.
“We are excited to work with Publicenter who have strong engagements with banks and retailers across Europe, including in our own home region of the Nordics. Working together, we will identify new commercial opportunities for both companies and implement a successful roll-out of Zwipe Pay ONE,” says André Løvestam, CEO of Zwipe.
*) Source: Europe; Spaargids.be; July 2018; Numbers concern payments processed by MasterCard
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About Publicenter
Publicenter has over forty years’ experience in high quality and cost-effective smart card production and personalization, being one of the leading card manufacturers in Europe. Main products are financial smart cards, loyalty/gift cards, and ID cards. Headquartered in Bologna, Italy, Publicenter is a Visa and Mastercard certified vendor for over 15 years. To learn more, visit www.publicenter.it
For more information contact: Sandro Mucelli, CEO, info@publicenter.it
OSLO, NORWAY – 29 June 2020 – Biometric fintech pioneer Zwipe and Thomas Greg and Sons do Brasil (TGS), one the largest smart card manufacturers in Latin America, are pleased to announce the extension of their exclusive partnership.
As part of uplifting the collaboration, TGS is commencing small scale manufacturing of biometric payment cards based on Zwipe’s platform, embracing the road to Zwipe Pay ONE and aiming to gradually ramp up production to address the ongoing market demand for safer and more secure contactless payments.
Since announcing the partnership in April 2019, the two companies have been working closely to fine-tune the technical aspects of the solution and evaluate the market appetite for biometric payments.
“We are now seeing increasing interest in biometric payment cards in our region, especially as consumers become much more familiar with contactless payments and demand safer and more hygienic payment alternatives in store. We have worked closely to adapt our manufacturing processes to integrate Zwipe’s biometric solution in our card production and we are excited to take this partnership to the next level,” says Mr. Hernani Finazzi, CEO of TGS.
“Latin America is a fast-emerging region when it comes to payment card usage. We are extremely glad TGS is taking a key step to embrace the Zwipe platform and bring our collaboration to a new level. We look forward to jointly addressing the needs of banks and consumers in Latin America going forward,” says André Løvestam, CEO of Zwipe.
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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 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
OSLO, NORWAY– 18 JUNE 2020 – Biometric fintech company Zwipe and Watchdata Technologies, a pioneer in digital authentication and transaction security, have partnered to develop and launch next generation contactless payment cards and wearables and bring these innovations to banks in multiple regions.
Watchdata Technologies is a Beijing based Chinese company, with Singapore as its international headquarters. It is serving 80 million banking customers in over 70 countries, the company has extensive operations in China, France, Russia, Brazil, India, Indonesia, South Korea and Mexico. Watchdata offers a wide range of payment products and services and is a VISA, Mastercard, China UnionPay certified manufacturer.
“Partnering with Zwipe to develop the next generation contactless experience aligns strongly with our mission of continuous innovation. Biometric capabilities uniquely combine convenience with security and safety, uplifting card payments’ experience to completely new levels. Integrating Zwipe Pay ONE into our smart card program will be key to competing and securing future business in this fast-emerging segment.” says Nicole Guo, Product Manager of Watchdata.
Zwipe will deliver key components and technical guidance as part of the agreement starting with biometric card payments.
Speaking on the partnership André Løvestam, CEO at Zwipe says “In China faster checkout in retail is cited as the number 1 priority for consumers. We are proud to partner with Watchdata, a fast-moving, innovative and global organization representing significant volume potential in many countries globally for the Zwipe Pay ONE platform. Together, we will develop and roll-out the next generation contactless experience through cards and wearables, addressing the security, safety and privacy needs of consumers worldwide.”
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About Watchdata Technologies
Watchdata Technologies is a recognized pioneer in digital authentication and transaction security. Founded in Beijing in 1994, Watchdata now have international headquarters in Singapore, 8 regional offices, and serve customers in over 70 countries. Watchdata customers include mobile network operators, financial institutions, transport operators, governments and leading business enterprises. Solutions from Watchdata provide daily convenience and security to over 1 billion mobile subscribers, 80 million e-banking customers and 50 million commuters. To learn more, visit www.watchdata.com
OSLO, NORWAY – 8 June 2020 – Zwipe is pleased to announce a new milestone in its ongoing collaboration with Toppan Forms Card Technologies Limited (TFCT), a leading smart card manufacturer based in Hong Kong.
TFCT has placed an order that brings the recently announced partnership to begin small scale manufacturing of biometric payment cards. This is a key milestone as part of the setup project and necessary developments in preparing for high-volume market roll-out of Zwipe Pay ONE.
“We have allocated time and space in our manufacturing facilities for producing biometric payment cards powered by Zwipe’s technology. We are excited to move ahead with Zwipe in this important project to develop the biometric payments market” says Mr. Joseph Hui, Deputy Managing Director of Toppan Forms Card Technologies Limited.
“The APAC payments market has one of the highest growth rates in the world. We are pleased that TFCT, a payment solutions leader in this region, has decided to step up cooperation to integrate our platform in their payment cards. We look forward to working closely with TFCT to deliver safer and more secure contactless payments with the disruptive Zwipe Pay ONE platform” says André Løvestam, CEO of Zwipe.
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OSLO, NORWAY– 02 June 2020 – Zwipe AS announces that Bishwajit Choudhary has accepted the position of Executive Vice President Strategy & Channels at Zwipe, commencing 2 June 2020. He will lead Zwipe’s engagement efforts towards banks, global and domestic card schemes, selected retailers and other important payments ecosystem stakeholders.
Based in Oslo, Mr. Choudhary brings two decades of experience from Nets where he led many new business initiatives within Digital-ID, electronic signatures and mobile authentication for international clients. As the Group SVP (Strategy) he led Nets' market intelligence and strategy execution and played a key role in many commercial initiatives, notably open-banking data analytics, customer advisory, strategic alliances and fintech partnerships. Prior to joining Zwipe, he was Chief Commercial Officer at UserTribe, a global leader in delivering deep customer insights in 100+ countries based on live experience data.
“With increasing activity in payment cards and wearables in general, and biometrics in particular, and with Zwipe poised to take a technology and cost leadership position in this high potential market, timing is right for Zwipe to complement our growing engagements with our direct customers, the smart card manufacturers, by embarking on a “pull strategy”. This means that we will step up our engagements with banks and neo-banks, as well as new players in card issuance, such as retailers and tech companies. With deep insights in the payments industry, Bishwajit will add a valuable breadth in our payments expertise and lead our strategy and channel development,” said André Løvestam, CEO of Zwipe.
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OSLO, NORWAY– 19 May 2020 –
Financial Calendar 2020 – 2021
Interim Report January-June 2020 August 27, 2020
Financial Year 2020 Annual Report February 25, 2021
Annual General Meeting May 19, 2021
Interim Report January-June 2021 August 26, 2021
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OSLO, NORWAY– 14 May 2020 – The Annual General Meeting in Zwipe AS (Company) was held today. All proposed resolutions were approved unanimously in accordance with the call for the meeting. The minutes of Annual General Meeting are included as an attachment. The complete proposal, which was approved by the Annual General Meeting, is available on www.zwipe.com for further reference. The attendants of the AGM represented 11,2% of the votes in the company.
The following matters were reviewed and confirmed:
Approval of the annual report and financial statements for 2019:
The board’s proposal for the annual report and the financial statements for 2019 for the Company and the group were unanimously approved.
Election of members to the Board of Directors:
The following persons were unanimously elected to comprise the new Board of the Directors:
Remuneration to the members of the Board of Directors and the members of the Nomination Committee
Remuneration to the Board for the period from the AGM in 2020 until the AGM in 2021 were unanimously approved as follows:
Chairman of the Board: NOK 260.000,-
Members of the Board: NOK 130.000,-
As remuneration, it was unanimously approved that members of the Nomination committee each receive a total of NOK 40.000 for each year in the term they have served (two years). Jörgen Lantto is covered by the board member remuneration and will hence not receive remuneration for his seat on the nomination committee.
Board authorizations and instructions to the Board regarding use of the authorization to issue shares to increase the Company's equity
The Board proposed that two new authorizations for the Board on capital increases are issued, (i) to fulfil the Company's incentive program and (ii) to cater for strengthening of the Company's equity.
i. Authorization for capital increase to fulfill the Company's incentive program
The Annual General Meeting resolved that the Board is hereby granted authorization to increase the share capital of Zwipe AS (the Company), on one or several occasions, with up to NOK 216 946.70 (2,169,647new shares), equivalent to 8.5% of the registered share capital at the time of this resolution. The authorization shall remain in force until the end of the annual general meeting 2021, however not beyond 30 June 2021. The pre-emptive right of the shareholders to subscribe may be set aside.
ii. Authorization for capital increase to strengthen the Company's equity (extract, please see the attachment to the notice for the complete proposal)
The Annual General Meeting resolved that the General Meeting granted a new authorization to the Board to issue shares corresponding to up to 25% of the share capital, and the new authorization shall be restricted to issue of shares to strengthen the Company's equity to the extent the Board considers this to be in the Company's best interest at the given time.
The authorization may be used to issue shares to strengthen the Company's equity to the extent the Board considers this to be in the Company's best interest at the given time. The authorization shall remain in force until the end of the annual general meeting 2021, however not beyond 30 June 2021. The pre-emptive right of the shareholders to subscribe may be set aside.
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This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Oslo Børs Merkur Market and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0)8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, on May 14, 2020 at 23:15 CET
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO RUSSIA, BELARUS, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION WHERE SUCH ACTION IS IN WHOLE OR IN PART WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO ACQUIRE SECURITIES IN ZWIPE AS. SEE THE "IMPORTANT INFORMATION" SECTION BELOW.
OSLO NORWAY – 22 NOVEMBER 2022 - The Board of Directors of Zwipe AS (the "Company" or "Zwipe") has today resolved to propose a preferential rights issue of 20,862,047 new shares (the "Offer Shares"), for a subscription price of NOK 4.80 per Offer Share, raising gross proceeds of approximately NOK 100 million with preferential rights for existing shareholders (the "Rights Issue"). The Rights Issue is fully guaranteed through a combination of subscription commitments and underwriting commitments. The Rights Issue requires the approval by the extraordinary general meeting of the Company expected to be held on 2 December 2022 (the "EGM") to be implemented. The notice of the extraordinary general meeting will be published in a separate press release.
Background and reason for the Rights Issue
Zwipe is a Norwegian biometric technology company established in 2009, focused on developing and commercializing secure, fast, and easy-to-use biometric authentication solutions with broad applications across key verticals such as payments and access control. Since 2019, card manufacturers have started the process of launching biometric payment card specific manufacturing lines, semiconductor providers have begun the development of dedicated offerings for this market, and the entire value chain supporting these processes has started moving more consistently. At the same time, Zwipe has made significant progress and added numerous smart card manufacturing customers across the world, significantly broadening their customer base. In addition, Zwipe has entered multiple important partnerships to enhance their go-to-market strategy and accelerate the adoption of biometric payment cards. Pilots have started and give the Company insights in its progress towards commercial adoption of its offerings.
In 2022, Zwipe has achieved a number of important milestones. The Company received its single largest commercial order for Zwipe Pay in a single quarter totalling $225,000. The Zwipe Pay Biometric Payment Card Platform received certification from both Visa and Mastercard, and the Fraport biometric access control project at Frankfurt Airport was successfully completed. Catering to the strong demand for access control solutions in the market, Zwipe is now engaging with a number of system integrators and distributors to accelerate the deployment of biometric access cards in key verticals and markets.
The Rights Issue is carried out in order to strengthen the Company’s financial position and enable the transition from start-up to scale-up.
Robert Puskaric, CEO of Zwipe comments:
“I am extremely pleased by the continued confidence demonstrated by our largest existing shareholders. Zwipe is experiencing significant positive commercial momentum and the proceeds from this fully secured rights issue will enable us to build upon our already strong position within biometric payments and biometric access control. The proceeds will be used to continue ramping up to meet growing global market demand for biometric security.”
Key terms of the Rights Issue
Underwriting obligations and guarantee commitments
The Rights Issue is fully guaranteed through a combination of subscription- and underwriting commitments. The subscription commitments are entered into with the Company’s largest shareholders, including Chairman of the Board Jörgen Lantto, and amount to approximately NOK 34.5 million, corresponding to approximately 34.5 percent of the Rights Issue. The underwriting commitments amount to approximately NOK 65.6 million, corresponding to approximately 65.5 percent of the Rights Issue. The underwriting commitments are entered into with three of the Company’s largest owners, Vasastaden Holding AB, Erik Selin Fastigheter AB and Arcanum Eiendom AS (controlled by Lars Windfeldt) pursuant to underwriting agreements entered into with each of them on 22 November 2022. The commitments and underwriting commitments are not secured by bank guarantee, escrow funds, pledging or similar arrangements. Pursuant to, and subject to, the terms and conditions set out in the underwriting agreements and the subscription commitments, the underwriters and pre-committing subscribing shareholders have undertaken to vote their shares held at the time of the EGM in favour of the Rights Issue and all underwriters have undertaken to guarantee on a several basis (not jointly) to subscribe for the Offer Shares, for a total underwritten amount of NOK 100,137,825.6 million, less any subscriptions covered by the subscription commitments. The Offer Shares which are not subscribed upon expiration of the subscription period (if any), will thus be subscribed by and allocated to the underwriters.
Other information pertaining to the Rights Issue
In connection with the Right Issue, a prospectus will be prepared, which is subject to the approval by the Norwegian Financial Supervisory Authority and which will be passported to Sweden. The prospectus will be published prior to the commencement of the subscription period and will form the basis for subscriptions in the Right Issue. Provided that the prospectus is approved by the Norwegian Financial Supervisory Authority and passported to Sweden in time, the subscription period for the Rights Issue will commence on 6 March 2023 and expire 20 March 2023 at 16:30 hours (CET). In the event that the prospectus is not approved in time to uphold this subscription period, the subscription period will commence on the second trading day on the Oslo Stock Exchange following the approval of the prospectus and expire at 16:30 hours (CET) two weeks thereafter.
The shareholders of the Company on 27 February 2023 (and being registered as such in the Norwegian Central Securities Depository, Euronext Securities Oslo, (the "VPS") as at the expiry of 1 March 2023 (the "record date")) will be granted one (1) preferential subscription right for each share registered as held by the shareholder as of the record date. Nine (9) preferential rights will give the right to subscribe for and be allocated five (5) Offer Shares in the Rights Issue (i.e. the holding of less than nine (9) preferential rights will not give the right to subscribe for any Offer Shares in the Rights Issue). Provided that a purchase of shares is made with ordinary T+2 settlement, shares purchased up to and including 27 February 2023 will give the right to receive subscription rights, whereas shares purchased from and including 28 February 2023 will not give the right to receive subscription rights. The subscription rights are expected to be tradable and listed on Euronext Growth Oslo and Nasdaq First North from and including the first day of the subscription period and until 16:30 (Oslo time) four trading days prior to the expiry of the subscription period. Over-subscription and subscription without subscription rights will be permitted.
A further description of the Rights Issue and of other circumstances that must be considered upon subscription of shares in the Rights Issue will be included in the prospectus for the Rights Issue, which will be published no later than the first trading of the subscription period and that will constitute the subscription material for the Rights Issue.
Indicative timeline for the Rights Issue
Change in share capital and number of shares and dilution
Upon completion of the Rights Issue, the share capital in the Company will be increased by NOK 2,086,204.7, from NOK 3,755,168.50 to NOK 5,841,373.20, through the issuance of 20,862,047 new shares. The number of shares thus increases from 37,551,685 to 58,413,732 shares. For existing shareholders who do not participate in the Rights Issue, this means, in the case of full subscription, a dilution effect of 35.7 percent of capital and votes in the Company.
Advisor
Zwipe has engaged Erik Penser Bank AB and Advokatfirmaet Simonsen Vogt Wiig AS as financial and legal advisors respectively in connection with the Rights Issue.
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For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
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This information is subject to the disclosure requirements in the Market Abuse Regulation (EU 596/2014) and the Norwegian Securities Trading Act section 5-12, and is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 19:30 on 22 November 2022.
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit http://www.zwipe.com.
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Important information
The information in this press release neither contains nor constitutes an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in Zwipe. No action has been taken and no action will be taken to permit an offer to the public in any jurisdictions other than Norway and Sweden. The invitation to interested persons to subscribe for shares in Zwipe will only take place through the prospectus that Zwipe expects to be able to publish around 3 March 2023. This announcement is an advertisement and is not a prospectus for the purposes of the Prospectus Regulation. Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.
The information contained in this press release may not be disclosed, published or distributed, directly or indirectly, within or to the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, Russia, Belarus or any other jurisdiction where such action would be illegal, subject to legal restrictions or require measures other than those that follow from Norwegian and Swedish law. Actions contrary to this instruction may constitute a violation of applicable securities legislation. No shares or other securities of Zwipe have been registered, and no shares or other securities will be registered, under the United States Securities Act of 1933 from time to time ("Securities Act") or the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or otherwise transferred, directly or indirectly, in or to the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and pursuant to the securities laws of the relevant state or other jurisdiction in the United States. This communication is distributed to and directed solely to persons in the United Kingdom who are (i) professional investors falling within the scope of Article 19(5) of the U.K. from time to time in force; Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("the Order") or (ii) high net worth subjects and other persons to whom this notice may lawfully be addressed, who are subject to Article 49(2)(a)-(d) ) in the Order (all such persons are collectively referred to as "Relevant Persons"). Persons who are not Relevant Persons may not act on or rely on the information in this communication. An investment or investment measure referred to in this communication is only possible for Relevant Persons and will only be completed with Relevant Persons. Persons who disseminate this communication must themselves ensure that such dissemination is permitted.
Forward-looking statements
This press release contains forward-looking statements that refer to the Company's intentions, assessments or expectations regarding the Company's future results, financial position, liquidity, development, prospects, expected growth, strategies and opportunities as well as the markets in which the Company operates. Forward-looking statements are statements that do not relate to historical facts and can be identified by the inclusion of expressions such as "believes", "expects", "anticipates", "intends", "estimates", "will", "may", "assumes", "should" "could" and, in each case, negations thereof, or similar expressions. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on additional assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there can be no assurance that they will occur or that they are accurate. As these assumptions are based on assumptions or estimates and are subject to risks and uncertainties, the actual result or outcome may, for many different reasons, differ materially from what appears in the forward-looking statements.
Such risks, uncertainties, contingencies, and other material factors may cause actual events to differ materially from the expectations expressed or implied in this press release through the forward-looking statements. The Company does not warrant that the assumptions underlying the forward-looking statements in this press release are correct and any reader of the press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements expressed or implied herein are provided only as of the date of this press release and are subject to change. Neither the Company nor anyone else undertakes to revise, update, confirm or publicly announce any revision of any forward-looking statement to reflect events occurring or circumstances occurring with respect to the contents of this press release, except as required by law or Nasdaq First North Growth Markets' regulations for issuers.
OSLO, NORWAY – 25 October 2022 – During the third quarter, Zwipe AS (“Zwipe” or “the company”) continued to strengthen its platform and market position to help its customers deliver biometric payment and access control cards to the market.
Significant events during the period
Significant events after the period
Operational review
In August 2022, Zwipe received the Component Conformity Statement (CCS) certificate from Mastercard, a significant milestone for the Zwipe Pay platform. With this certification, Zwipe became the first biometric payment card platform available to SCMs to achieve scheme approvals from both VISA and Mastercard. Soon after this announcement, Tag Systems was the first of our SCM customers to receive approval by Mastercard to deploy their biometric card products using the Zwipe Pay platform. Certification from Mastercard is expected to further accelerate issuer pilots and planned launches based on Mastercard's network.
Zwipe continues to focus on executing our signed issuers’ pilots. In total, seven issuer pilot projects are progressing according to issuer plans – including our first major announced pilot, the global Tier-1 bank pilot and the MEPS pilot. Additional pilot launches are expected in the coming quarters, with start dates to be defined by issuers. Zwipe’s SCM customers also saw a significant expansion in their issuer pipelines during the quarter, beginning engagements with ten new large and medium sized banks – primarily in the Latin America (“Latam”) and Asia Pacific (“APAC”) regions.
We also continued to make significant progress for Zwipe Access during the third quarter. In July, Fraport AG announced the conclusion of The Digital Factory – Biometric Security Controls project at Frankfurt Airport. Zwipe Access cards were tested by Fraport employees in real-time and passed all project requirements successfully. Zwipe is now shortlisted as a suitable contender to provide next generation access control when Fraport moves forward. Just after the end of the third quarter, Civix, one of America’s leading providers of security solutions to over 100 airports in North and Latin America, selected Zwipe’s access control technology to augment their security propositions for airport operations – further enhancing Zwipe’s position in the airport vertical.
On the technology side, the R&D team has continued to make good progress on finalizing our mobile enrollment solution for both Android and iOS, ensuring value-added enhancements that will enable consumers to have a seamless enrollment experience.
Zwipe also took an important step by establishing a dedicated Customer Success team to accelerate pilot execution. Jens Hansen was recruited to lead this department and becomes a member of the Zwipe Leadership Team, while several employees were transferred to the Customer Success unit.
Most importantly, Zwipe is ending the year with strong momentum, having announced the single largest commercial order in a quarter to date for Zwipe. Further traction with this SCM and others is expected in 2023.
Financial review
Zwipe had total revenue of 0.8 mNOK during Q3 2022 versus revenue of 0.4 mNOK in Q3 2021. Net cash flow from operations was -24.2 mNOK versus -15.8 mNOK in Q3 2021, equating to an underlying average monthly operating cash flow in the third quarter of 2022 of -8.0 mNOK. Cash and cash equivalents stood at 85.8 mNOK at the end of Q3 2022 compared to 183.7 mNOK at the end of Q3 2021.
Operational update presentation
CEO Robert Puskaric and CFO Danielle Glenn will do a short presentation on the operational update today, Tuesday October 25th, at 09:30 CET.
Webcast details
Format: Webcast and Q&A
Language: English
Link: Zwipe Q3 2022 operational update
Participants will be required to register to view the webcast and participate in the Q&A
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This information is subject to the disclosure requirements in the Market Abuse Regulation (EU 596/2014) and the Norwegian Securities Trading Act section 5-12, and is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 on 25 October 2022.
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit http://www.zwipe.com.
For more information, please contact:
Danielle Glenn, CFO and Head of IR
+47 909 98 201, ir@zwipe.com
OSLO, NORWAY – 18 October 2022 – Zwipe AS will publish an operational update on 25 October 2022 at 08:00 CET. On the same day at 09:30 CET, the Company will host a webcast to present the operational update. After the presentation, the webcast will be opened up for questions from the audience.
Participants are encouraged to submit their questions prior to the webcast at the link below. Participants will be required to register to view the webcast and participate in the Q&A.
Webcast details
Date: 25 October 2022
Time: 09:30 CET
Format: Webcast and Q&A
Language: English
Link: https://q4-emea.wavecast.io/zwipe-as-q3/2022
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
For more information, please contact:
Danielle Glenn, CFO and Head of IR
+47 909 98 201
danielle@zwipe.com
Biometric smart cards increase security, reduce time and costs
NEW ORLEANS, LOUISIANA and OSLO, NORWAY – 14 October 2022 – In partnership with Zwipe, Civix is expanding its Aviation Secure Credentials (ASC) suite of solutions with a biometric smart card for access control. The ASC Access Cards use built-in fingerprint sensors to check the legitimacy of cardholders at points of entry. The cards are fully compatible with traditional NFC card readers, so airports can use them to implement two-factor authentication without upgrading the existing hardware. The solution is also contactless, a priority for high-traffic facilities, like airports, in light of COVID-19.
“We’re excited to continue expanding on our end-to-end suite of security solutions for airport secure credentials with the addition of ASC Access cards,” said Tim Walsh, President of Civix Airports, a trusted partner to the FAA, state aeronautics departments, and over 100 airports worldwide. “The icing on the cake is that ASC Access cards work with existing hardware, meaning airports save costs and avoid holdups associated with complicated implementation and supply chain delays.”
ASC Access cards work by giving each user a card containing their unique fingerprint data in a secure chip. When placed near a reader, the card compares the fingerprint of the person holding the card with the fingerprint data stored on the card. If they are a match, the card generates an access code and directs the control infrastructure to grant access.
“Basically, the person assigned to the card must be holding it in order to get access. It’s a simple way for airports to improve security,” Walsh explained. The authentication process is self-contained within the card, so biometric data is not transmitted and separate biometric reader hardware is not required.
“This is a heightened level of security that is incredibly fast, easy, and affordable to implement,” said Robert Puskaric, President & CEO of Zwipe. “Civix is a highly reputed system integrator and solution provider to the airport industry, and we are proud to include our biometric smart card technology to its suite of solutions improving airport security.”
Civix ASC Access cards can be used with any access control system or as part of Civix’s suite of ASC solutions, which includes IDMS software, a self-service badging kiosk, and Aviation Channeling Data Management System formerly known as Designated Aviation Channeling (DAC) services to facilitate the fast, seamless communication of biographic and biometric data securely from aviation badging entities to the federal government.
“We know airports and the challenges they face, that’s why we’re especially proud to offer affordable solutions that eliminate friction throughout entire credentialing process, from self-service badging to automated background checks to access control,” said Walsh.
About Civix Airports
Built on decades of experience and a deep understanding of airport processes, Civix provides industry-leading solutions for managing airport operations, finance, and security. Our modular technology automates data sharing and seamlessly connects airport activities – improving oversight, revenue, and compliance. Our experts have worked in every facet of airport management, and Civix is a trusted partner to the FAA, state aeronautics departments, and over 100 airports worldwide.
To learn more, visit gocivix.com.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com
For further information please contact Robert Puskaric, President and CEO, +46 70 519 34 07 info@zwipe.com
Biometric smart cards increase security, reduce time and costs
NEW ORLEANS, LOUISIANA and OSLO, NORWAY – 14 November 2022 – In partnership with Zwipe, Civix is expanding its Aviation Secure Credentials (ASC) suite of solutions with a biometric smart card for access control. The ASC Access Cards use built-in fingerprint sensors to check the legitimacy of cardholders at points of entry. The cards are fully compatible with traditional NFC card readers, so airports can use them to implement two-factor authentication without upgrading the existing hardware. The solution is also contactless, a priority for high-traffic facilities, like airports, in light of COVID-19.
“We’re excited to continue expanding on our end-to-end suite of security solutions for airport secure credentials with the addition of ASC Access cards,” said Tim Walsh, President of Civix Airports, a trusted partner to the FAA, state aeronautics departments, and over 100 airports worldwide. “The icing on the cake is that ASC Access cards work with existing hardware, meaning airports save costs and avoid holdups associated with complicated implementation and supply chain delays.”
ASC Access cards work by giving each user a card containing their unique fingerprint data in a secure chip. When placed near a reader, the card compares the fingerprint of the person holding the card with the fingerprint data stored on the card. If they are a match, the card generates an access code and directs the control infrastructure to grant access.
“Basically, the person assigned to the card must be holding it in order to get access. It’s a simple way for airports to improve security,” Walsh explained. The authentication process is self-contained within the card, so biometric data is not transmitted and separate biometric reader hardware is not required.
“This is a heightened level of security that is incredibly fast, easy, and affordable to implement,” said Robert Puskaric, President & CEO of Zwipe. “Civix is a highly reputed system integrator and solution provider to the airport industry, and we are proud to include our biometric smart card technology to its suite of solutions improving airport security.”
Civix ASC Access cards can be used with any access control system or as part of Civix’s suite of ASC solutions, which includes IDMS software, a self-service badging kiosk, and Aviation Channeling Data Management System formerly known as Designated Aviation Channeling (DAC) services to facilitate the fast, seamless communication of biographic and biometric data securely from aviation badging entities to the federal government.
“We know airports and the challenges they face, that’s why we’re especially proud to offer affordable solutions that eliminate friction throughout entire credentialing process, from self-service badging to automated background checks to access control,” said Walsh.
About Civix Airports
Built on decades of experience and a deep understanding of airport processes, Civix provides industry-leading solutions for managing airport operations, finance, and security. Our modular technology automates data sharing and seamlessly connects airport activities – improving oversight, revenue, and compliance. Our experts have worked in every facet of airport management, and Civix is a trusted partner to the FAA, state aeronautics departments, and over 100 airports worldwide.
To learn more, visit gocivix.com.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com
For further information please contact Robert Puskaric, President and CEO, +46 70 519 34 07 info@zwipe.com
*** The only change in relation to the original release is the text on the reference to the Market Abuse Regulation.
OSLO, NORWAY– 11 October 2022 – Zwipe is proud to announce a significant commercial order for its Zwipe Pay platform, which enables smart card manufacturers to deliver biometric payment cards. This order has been placed by one of the world’s largest smart card manufacturers delivering tens of millions of payment cards globally.
The order value is approximately USD 225,000 and the shipment is targeted for later Q4 2022, making it the single largest commercial order for a quarter in Zwipe’s history. Most notably this initial order is part of a larger volume that the smart card manufacturer expects to place in 2023. This development comes after the smart card manufacturer has started to ramp up its production readiness to deliver biometric payment cards in high volume to key growth markets in Europe.
Robert Puskaric, President and CEO of Zwipe added, “It is encouraging to see the growing commitment from one of the largest smart card manufacturers to launch biometric payment cards in higher volumes from 2023 with Zwipe. Our platform’s Visa certification in March and Mastercard’s approval in August this year has further accelerated our customers’ interest to bring their next generation payment cards to markets in continued partnership with Zwipe”.
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This information is subject to the disclosure requirements in Regulation EU 596/2014 and the Norwegian Securities Trading Act section 5-12, and is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 10:10 on 11 October 2022.
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
For more information, please contact:
Danielle Glenn, CFO and Head of IR
+47 909 98 201
ir@zwipe.com
OSLO, NORWAY– 11 October 2022 – Zwipe is proud to announce a significant commercial order for its Zwipe Pay platform, which enables smart card manufacturers to deliver biometric payment cards. This order has been placed by one of the world’s largest smart card manufacturers delivering tens of millions of payment cards globally.
The order value is approximately USD 225,000 and the shipment is targeted for later Q4 2022, making it the single largest commercial order for a quarter in Zwipe’s history. Most notably this initial order is part of a larger volume that the smart card manufacturer expects to place in 2023. This development comes after the smart card manufacturer has started to ramp up its production readiness to deliver biometric payment cards in high volume to key growth markets in Europe.
Robert Puskaric, President and CEO of Zwipe added, “It is encouraging to see the growing commitment from one of the largest smart card manufacturers to launch biometric payment cards in higher volumes from 2023 with Zwipe. Our platform’s Visa certification in March and Mastercard’s approval in August this year has further accelerated our customers’ interest to bring their next generation payment cards to markets in continued partnership with Zwipe”.
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This information is subject to the disclosure requirements in Regulation EU 596/2014 article 19 number 3 and the Norwegian Securities Trading Act section 5-12, and is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 10:10 on 11 October 2022.
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
For more information, please contact:
Danielle Glenn, CFO and Head of IR
+47 909 98 201
ir@zwipe.com
OSLO, NORWAY – 26 September 2022 – Jens Hansen, VP of Customer Success in Zwipe AS, has today acquired 10,000 shares in Zwipe AS. After this transaction, Jens Hansen owns 10,000 shares in Zwipe AS.
The shares were acquired on Euronext Growth Oslo at a price of 6.50.
Attached is a copy of the form submitted to the Norwegian FSA, Finanstilsynet, reporting the transaction as listed above
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This information is subject to the disclosure requirements in Regulation EU 596/2014 article 19 number 3 and the Norwegian Securities Trading Act section 5-12, and is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 13.30 on 26 September 2022.
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
For more information, please contact:
Danielle Glenn, CFO and Head of IR
+47 909 98 201
danielle@zwipe.com
New biometric card powered by the Zwipe Pay platform addresses customer demand for increased security and convenience
OSLO, NORWAY – 20 September 2022 – Tag Systems, a leading provider of payment cards (part of the AUSTRIACARD Group), has been granted approval from Mastercard to deploy biometric card products using the Zwipe Pay platform. Issuers and consumers will have access to biometric payment cards built on Zwipe Pay technology that operate seamlessly across Mastercard's global network, addressing consumers’ demand for increased security and convenience through biometric authentication.
“We congratulate Tag Systems for obtaining this approval for biometric payment cards built on our platform. This will be a key step in ramping up launches and volumes across Mastercard’s global payment card network. The door is now wide open for banks to deploy biometric payment cards and address the increasing consumer demand for safer, more convenient and secure ways to pay,” said Robert Puskaric, CEO of Zwipe.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries & cultures to make convenience safe & secure. We are pioneering next-generation biometric card and wearables technology for both payment and physical & logical access control and ID solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com, contact Robert Puskaric, President and CEO, +46 70 519 34 07 info@zwipe.com
