OSLO, NORWAY and CORPS, FRANCE – 21 November 2024 – OSE, one of France’s well known PCB assembly services provider, has chosen Zwipe to deploy Zwipe Access biometric access cards across their operations. This collaboration marks a significant milestone in delivering enhanced security to high-security environments.
OSE, headquartered in Corps, France, is known for its expertise in electronic board prototyping, testing, and lean manufacturing practices that emphasize quality and reliability. With a strong focus on innovative and flexible solutions, OSE has consistently positioned itself as a leader in the industry.
Caroline Guerin, OSE General Manager, commented on the partnership, saying, “Our commitment to protect our customers’ intellectual property aligns perfectly with Zwipe’s advanced biometric technology. The deployment of Zwipe Access cards on our premises allows us to provide a solution that ensures seamless integration and robust security for high-security environments.”
Zwipe Access cards offer a high level of security by conducting all fingerprint capture, extraction, and matching directly on the card. This ensures that sensitive biometric data never leaves the card, thereby providing optimal data privacy and security for users.
According to Robert Puskaric, President and CEO of Zwipe, “Innovation in security is paramount, especially in today’s fast-evolving landscape. With OSE as our partner, we are proud to support the deployment of Zwipe Access cards in France, reinforcing our commitment to delivering an additional layer of security in critical environments.”
About OSE
The company OSE, located in Corps en Isère (France), specializes in electronic boards from prototypes, pre-series and series industrializations to end and finished product. Its corporate culture promotes the development of the know-how of its employees in order to achieve a common objective: customer satisfaction. Our company has more than 130 employees, it is located in a 3000 m² building and controls all manufacturing processes (from the simplest to the most complex
To know more, visit www.ose.fr
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 technology for payment, physical and logical access control as well as 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
OSLO, NORWAY – 19 NOVEMBER 2024 - Reference is made to the stock exchange announcement published by Zwipe AS (the "Company" or "Zwipe") earlier on 7 November 2024, regarding a contemplated rights issue in the Company, raising gross proceeds of approximately NOK 40 million (the "Rights Issue"). In relation thereto, the Board of Directors of Zwipe (the "Board") calls for an Extraordinary General Meeting (the "EGM") to be held on 3 December 2024 at 10:00 (CET). The general meeting will be held as a virtual meeting on Microsoft Teams.
Please find attached the notice to the EGM. The notice is also available on the Company's website, https://zwipe.com/investors.
The deadline for registration of attendance, proxies and advance voting for direct shareholders is 2 December 2024 at 16:00 hours (CET). Holders of nominee registered shares must register attendance, proxies and advance voting no later than within 29 November 2024 at 16:00 hours (CET). Shareholders are encouraged to register their notice of attendance and proxies via the link found here: https://zwipe.com/investors/general-meetings.
Alternatively, the attached notice of attendance and proxy forms may be sent by e-mail to genf@dnb.no, or by regular post to DNB Bank ASA, Registrar's Department, P.O.Box 1600 Sentrum, 0021 Oslo, Norway.
Shareholders who have not registered participation digitally, must also send an e-mail to ir@zwipe.com and will, thereafter, receive a link to the Teams meeting for the General Meeting.
The Board has proposed the following agenda:
1. Opening of the general meeting (non-voting)
2. Registration of attending shareholders and proxies (non-voting)
3. Election of Chair of the meeting and one person to co-sign the minutes.
4. Approval of the notice and the agenda
5. Rights issue
6. Board authorization to issue convertible loan
7. Issue of Warrants
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
OSLO, NORWAY – 7 NOVEMBER 2024 - The board of directors (the "Board") of Zwipe AS ("Zwipe" or the "Company") has today, on 7 November 2024, resolved to propose that the Company carries out a new issue of units, consisting of shares and warrants, with preferential rights for existing shareholders raising gross proceeds of approximately NOK 39.7 million (the "Rights Issue"). The Rights Issue requires approval by the extraordinary general meeting of the Company expected to be held on 3 December 2024 (the "EGM") to be implemented. The notice of the EGM will be published in a separate press release.
Background and reason for the Rights Issue
Zwipe is a Norwegian biometric authentication 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 the beginning of 2024, Zwipe has focused exclusively on Zwipe Access and continues to make considerable progress building their network of sales partners and establishing Zwipe as one of the leading solutions for biometric access control. Several major enterprises are currently evaluating Zwipes access control cards for potential deployment to enhance general security in their facilities and offices.
The Rights Issue is carried out in order to strengthen the Company's financial
position and to accelerate the commercialization of Zwipe’s biometric cards within access control. Zwipe has made substantial progress within the access control market, which the Company anticipates will translate to meaningful commercial traction and revenue in the coming quarters. With the company operating in a very cost-efficient manner, proceeds from the rights issue alongside available cash and possible additional cost saving measures are expected to support the Company throughout 2025 and in its transition to a phase of sustainable, long-term commercial success.
Key terms of the Rights Issue
The Board has today resolved to propose that the EGM resolves on the Rights Issue of 99,303,344 transferable subscription rights (the "Subscription Rights") with preferential rights for existing shareholders, whereby one Subscription Right gives the right to subscribe for four (4) units ("Unit"). Each Unit consists of (i) a new share in the Company, each with a nominal value of NOK 0.10, and (ii) a warrant of series T02 (the "Warrants") for a subscription price of NOK 0.10 per Unit. One Warrant give the right to subscribe for one ordinary share in the Company during the period beginning on 3 March 2025 and ending on 14 March 2025. The subscription price in the Rights Issue is NOK 0.10 per Unit on Euronext Growth Oslo and SEK 0.10 per Unit on Nasdaq First North Growth Market Sweden. The subscription price per share corresponds to the subscription price per Unit. Thus, the Warrants are issued free of charge. Upon full subscription, the Company will initially receive approximately NOK 39.7 million in gross proceeds. If Warrants are exercised, the Company will receive additional proceeds in March 2025.
The shareholders of the Company on 3 December 2024 (and being registered as such in the Norwegian Central Securities Depository, Euronext Securities Oslo, (the "VPS") as at the expiry of 5 December 2024 (the "Record Date") will be granted one (1) Subscription Right for each share registered as held by the shareholder as of the Record Date. One (1) Subscription Right is required to subscribe for four (4) Units. Each Unit consists of one (1) new share and one (1) Warrant.
Subscription of Units with or without preferential rights shall take place during the period beginning on 6 December 2024 and ending on 20 December 2024. Subscription Rights that are not exercised during the subscription period become invalid and lose their value. Trading in Subscription Rights takes place on Nasdaq First North Growth Market and Euronext Growth Oslo during the period beginning on 6 December 2024 and ending on 16 December 2024.
Pursuant to Section 10-4 of the Norwegian Private Limited Companies Act, the shareholders of the Company at the day of the EGM (as registered in the Company's shareholder register in VPS two trading days thereafter (the "EGM Record Date")), and who are not resident in a jurisdiction where such offering would be unlawful or, would (in jurisdictions other than Norway) require any prospectus, filing, registration or similar action, will be granted a preferential right to subscribe for and be allocated the new shares in proportion to the number of shares in the Company they own as of the EGM Record Date (the "Existing Shareholding"), and will receive Subscription Rights proportionate to their Existing Shareholding. The Company expects to apply for admission to trading of the Subscription Rights on Euronext Growth Oslo and Nasdaq First North Growth Market Stockholm.
Units will be allocated in the Rights Issue in accordance with the following criteria:
a) Allocation of Units shall be made according to granted or acquired transferable subscription rights which have been validly exercised during the subscription period.
b) Units not allocated pursuant to a) above, will be allocated to subscribers who have exercised their transferable subscription rights and oversubscribed. These subscribers will be allocated additional Units based on the amount of transferable subscription rights exercised by each subscriber. To the extent that pro rata allocation is not possible, the Company will determine the allocation by drawing lots.
One (1) Warrant entitles, during the period beginning on 3 March 2025 and ending on 14 March 2025, to subscription of one (1) new share in Zwipe at an exercise price of NOK 0.10.
There will from and including 7 November 2024 temporarily be imposed a block for repositioning of trading in the shares in the Company between Euronext Securities Oslo (VPS) and Euroclear Sweden AB until and including the Record Date. Full terms and conditions for the Rights Issue as well as other information about the Company will be described in the EU Growth Prospectus, which is expected to be published on or around 5 December 2024.
Robert Puskaric, CEO of Zwipe comments:
"Zwipe continues to see strong interest in bringing biometric access control cards to market globally. We feel confident that a number of the engagements and opportunities our partners are working with us on will result in commercial and operational deployments in a very short timeframe. The proceeds from the Rights Issue will give us more financial flexibility and enable us to execute on our commercial objectives for Zwipe Access. We are operating in an efficient and agile manner and proceeds from the Rights Issue should support us in achieving significant commercial traction and positioning the company for sustainable, profitable growth."
Change in share capital, number of shares and dilution
Based on the outstanding number of shares as of today, the share capital in the Company increases through the Rights Issue by a maximum of NOK 39,721,337.60, from NOK 9,930,334.40 to NOK 49,651,672.00, through the issuance of a maximum of 397,213,376 shares. The number of shares increases from 99,303,344 to a maximum of 496,516,720 shares. For existing shareholders who do not participate in the Rights Issue, this implies a dilution effect of 80.0 percent in the case of full subscription.
In the event that all outstanding Warrants issued in the Rights Issue are fully exercised for the subscription of new shares in Zwipe, the number of shares will increase by an additional 397,213,376 to a total of 893,730,096 shares and the share capital will increase by NOK 39,721,337.60 to a total of NOK 893,730,009.6.
Extraordinary general meeting
The Rights Issue requires the approval by the EGM expected to be held on [3 December] 2024 to be implemented. The notice of the EGM will be published in a separate press release.
Advisor
Zwipe has engaged Bergs Securities AB and Advokatfirmaet Schjødt AS as financial and legal advisors respectively in connection with the Rights Issue.
For further information contact:
Robert Puskaric, CEO of Zwipe
E-mail: ir@zwipe.com
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 the date and time provided.
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
Important information
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus will be prepared by the Company and published on the Company's website after the prospectus has been reviewed and approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen).
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Belarus, Hong Kong, Japan, Canada, New Zealand, Russia, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Offers to the public will be permitted in Sweden and Norway from and including the date of approval of the prospectus by the competent authority in Sweden and the competent authority in Norway has been notified in accordance with the Prospectus Regulation, through to and including the end of the subscription period in the Rights Issue.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.
OSLO, NORWAY, and WETZIKON, SWITZERLAND – 14th October 2024 – As part of the official launch of LEGIC neon on card Zwipe and LEGIC Identsystems are excited to announce the introduction of biometric cardholder verification on Zwipe Access for LEGIC-based access control systems. This enhancement, now available commercially, integrates Zwipe’s industry-leading biometric technology into the latest version of LEGIC’s neon application.
With LEGIC neon on card, organizations can now deploy smartcard-based access solutions that incorporate fingerprint authentication. This new feature ensures that Zwipe Access releases credentials only after successful on-card fingerprint verification, adding an extra layer of security while maintaining a seamless experience for users.
For end users, the process is simple and secure: by placing a finger on the card’s built-in sensor, the cardholder can easily unlock the credentials needed to gain access via an NFC reader. This eliminates the need for PINs or passwords, streamlining access control without compromising safety.
"We are delighted to bring multi-factor authentication to LEGIC neon-based cards," said Christoph Beckenbauer, General Manager at LEGIC Identsystems. “This product seamlessly extends biometric verification to smartcards, which was previously only available with LEGIC neon for smartphones.”
"LEGIC neon is a uniquely secure and flexible technology." Robert Puskaric, President and CEO of Zwipe, added, "We are proud that LEGIC has chosen to partner with us, leveraging our Zwipe Access platform to enhance the security of their application."
For over 30 years, Swiss-based LEGIC Identsystems has enabled companies from around the world to deploy solutions with demanding security requirements. Based on key management, trusted services and secure, contactless semiconductors, the LEGIC Security Platform provides end-to-end security for smartphone- and smartcard-based access, mobility, shared resource and industrial IoT applications.
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 technology for payment, physical and logical access control as well as 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.
For more information, visit: www.zwipe.com
OSLO, NORWAY – 07-Oct-2024 – One of the prominent global leaders in the pharmaceutical industry is currently testing Zwipe Access biometric cards, in collaboration with a trusted partner, with a view to potentially deploy these innovative cards in its operations.
Zwipe AS, a pioneer in biometric technology, offers Zwipe Access cards equipped with an advanced fingerprint sensor. This technology captures the cardholder’s fingerprint securely, delivering the highest level of security and privacy available in biometric systems. By ensuring that the biometric data never leaves the card, Zwipe Access provides an unparalleled safeguard against data breaches.
The global pharmaceutical company involved in this testing is dedicated to reimagining medicine, improving, and extending lives. With the deployment of Zwipe Access cards, the company aims to enhance security across its processes and operations.
Robert Puskaric, President and CEO of Zwipe, shared his thoughts on the potential deployment and said, “Securing individual identities is critical in today’s landscape of cyber and security threats. Biometric authentication offers a highly secure, reliable method for identity verification. Since biometric characteristics are unique to each person, Zwipe Access Cards prevents the risk of unauthorized access, all while providing a seamless and intuitive user experience."
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work passionately across networks of international organizations, industries, and cultures to make convenience safe and secure. We pioneer next-generation biometric card technology for payment, physical and logical access control, as well as 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, please visit http://www.zwipe.com/
OSLO, NORWAY – 30-Sept – 2024 – Zwipe, a global pioneer and leader in biometric technology for access control, identification, and payment solutions, announces that one of the world’s top digital music streaming service providers is currently testing Zwipe’s biometric access cards. This evaluation is part of a potential deployment of Zwipe’s technology across the company.
Zwipe is listed on the stock exchanges of Oslo and Stockholm and specializes in secure, biometric authentication technology for access control, identification, and payment solutions.
The global music streaming company aims at increasing security on its premises by evaluating and potentially adopting Zwipe Access cards. These biometric cards offer enhanced protection by ensuring that sensitive credentials are kept secure and can only be activated by the legitimate cardholder.
Zwipe Access is a card-based fingerprint dual-authentication solution designed for access control, fast and easy to deploy. With fingerprint capture, extraction, and comparison taking place entirely on the card itself, the biometric data never leaves the card. This provides heightened data privacy and security for users, significantly reducing the risk of security breaches, whether in the physical or digital world.
Robert Puskaric, President and CEO of Zwipe, commented on the potential partnership, stating: “Security and privacy concerns are growing everywhere. Adopting secure and reliable access control systems is essential in protecting people and facilities. Zwipe’s biometric technology offers a secure, fast, and intuitive authentication experience for access control. We are delighted to have such a global leader as potential customer.”
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 technology for payment, physical and 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
OSLO, NORWAY – 25-September – 2024 – A leading U.S.-based social media and IT company is currently testing Zwipe Access biometric cards via their strategic technology partner, mandated to assess and implement technology globally, considering the possible deployment of this cutting-edge solution across its facilities.
Zwipe AS, a widely recognized pioneer in biometric technology, has supplied these cards as part of a collaborative effort to enhance customer’s sites security.
Zwipe is listed on the stock exchanges of Oslo and Stockholm and specializes in secure, biometric authentication technology for access control, identification, and payment solutions.
The global technology giant aims at further strengthening its security protocols by evaluating and potentially adopting Zwipe Access cards. These biometric cards offer enhanced protection by ensuring that sensitive credentials are kept secure and can only be activated by the legitimate cardholder.
Zwipe Access is a card-based fingerprint dual-authentication solution designed for access control. With fingerprint capture, extraction, and comparison taking place entirely on the card itself, the biometric data never leaves the card. This provides heightened data privacy and security for users, significantly reducing the risk of security breaches, whether in the physical or digital world.
Speaking on this potential deployment, Robert Puskaric, President and CEO of Zwipe, said, “In today’s digital age, secured identity and authentication are more important than ever. We are immensely proud for a potential partnership with such a prominent global leader in the tech industry. The Zwipe Access biometric card offers an excellent solution for enhancing security through two-factor authentication, all without requiring lengthy and costly hardware upgrades, thus providing both increased protection and significant savings in capital expenditure.”
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work passionately across networks of international organizations, industries, and cultures to make convenience safe and secure. We pioneer next-generation biometric card technology for payment, physical and logical access control, as well as 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, please visit http://www.zwipe.com/
Significant events H1 2024
Focusing on identity and access management, Seriline, a Sweden-based company, has signed a distribution agreement with Zwipe that pioneers next generation biometric cards for physical & logical access control and identification solutions.
Plasticard - ZFT, one of the leading manufacturers for plastic cards, smart cards and ID media has partnered with Zwipe to distribute biometric access cards for Zwipe in Germany, Austria and Switzerland.
Ermes srl, one of the leaders in providing solutions for the identification and security of people, has signed a distribution agreement with Zwipe, a pioneer and world leader in the development of biometric technology on cards for identification and access control.
Zwipe announced the appointment of PCB & Security Europe S.L., headquartered in Barcelona, Spain, as its official distributor for Spain and Portugal. This strategic partnership expands Zwipe’s reach across Europe and positions the company to capitalize on the growing demand for secure and convenient biometric access solutions in the Iberian Peninsula.
Zwipe has teamed up with SCAP, the leading distributor of access control cards and readers in France, focusing on providing advanced security RFID solutions, to introduce the innovative “biometric system-on-card” to SCAP’s customers.
Tadera and Zwipe announce that the Zwipe Access Biometric Smart Card System has completed operational test and evaluation by National Safe Skies Alliance, Inc. (Safe Skies) at Richmond International Airport (RIC). The report concludes that the Zwipe access card is a highly secure and user-friendly solution that meets the needs of the airport.
In January, Zwipe announced a company restructuring and new strategic direction, increasing its focus on Zwipe Access and accelerating the commercialization of its biometric authentication technology in the access control market. As a result of the change in strategic focus, the company has initiated a restructuring process that is expected to reduce operational costs, particularly related to Zwipe Pay.
Significant events after the period
ZKTeco, a globally recognized leader in access control solutions, is proud to announce a partnership with Zwipe, a leader in biometric technology for cards used in identification, access control, and payment. Together, they aim to deliver cutting-edge, high-security access solutions in Europe.
Zwipe the market leader in Biometric Smart Card technology for biometric access card technology, has entered into a strategic partnership with ABC Security Access Systems, a prominent integrator specializing in physical security solutions. This collaboration aims to introduce Zwipe’s state-of-theart biometric smart card technology solutions to customers across the Canadian marketplace, focusing on key sectors such as retail, government, commercial and institutional.
Zwipe, the global leader in biometric payment and access cards, and AXYS, a specialist in integrating access control, video surveillance, intrusion detection, and other security technology solutions announce a strategic partnership. This collaboration aims to deliver the groundbreaking “biometric smartcard” technology solution to AXYS’s global customer base.
Message from the CEO
During the first half of the year, we have, alongside the execution of the restructuring program, focused on implementing the new strategy focusing on the access control market. We intensified our efforts to establish and develop strategic partnerships in our targeted regions that enhance our reach and credibility within the industry with good traction and response. Collaborations and the establishment of go-to-market partnerships with key players in the security and technology sectors are increasing both our market presence and growth potential and we have expanded our network of distributors and resellers, as well as system integrators and installation companies in all geographies.
In France, during the first quarter, we signed a distribution agreement with SCAP, a major distributor giving us access to many local system integrators and installers, and a large pool of potential French end user enterprises.
During the second quarter we have started to see our intense work paying off as we have been able to sign additional collaborations with, among others, Seriline, Plasticard and Ermes. Lately we also communicated agreements with AXYS, ABC Security Access Systems, ZKTeco Europe. Many of these partners operate and have strong foothold in multiple countries and regions giving us an even wider reach.
Today we have more than 60 distributors and system integration partners throughout North America and European counties we have selected to focus on. It also means we have continued to increase the number of distributed starter packs/ demo kits during the second quarter of the year, so our partners can approach an increased number of end user enterprises.
As we have stated before, we are primarily targeting three verticals. For the Airport, Power Plants and Data Centers we have developed specific value propositions that we are getting good response and traction on. The fourth area we are approaching is more generic in terms of government agencies, major tech companies and multinational enterprises in various sectors and verticals.
Three of our partners in North America are specialized in providing security solutions to data centers. This has so far resulted in that we are engaged in a tender process with a leading internet search company and that we have commenced testing for a top social network and software company. Biometric access cards and our solution have also been adopted by architects and solution providers in future tenders when building new data centers.
On the power plant vertical we have passed product tests and are under evaluation by a major nuclear plant in North America. We also under evaluation by a major energy company in the USA.
Unfortunately, the airport vertical has not yet shown the development we had expected given the positive outcome of the report by National Safe Skies Alliance, Inc. We have two major partners in this vertical that are currently in dialogue with more than 10 airports in the USA. It is our assessment that more time is needed as decision processes in these potential deals take longer time than expected.
In total we together with our partners now have around 55 ongoing unique end user enterprise engagements. Not to say that every enterprise will ever implement biometric access cards for all their employees, but our current 55 engagements have an average of +40.000 employees per engagement, so the potential is huge.
We are obviously disappointed that we and our partners have not been able to enter into material commercial deployments and generate revenue during the first half of this year. At the same time, we are very pleased with the development in building our partner network in the first half year and the response we are getting from our engagements. That said, we are convinced that the work we have been doing will pay off in the near future.
Financial review
Profit and loss Zwipe reported total revenues of NOK 0.6 million during the first half of 2024, lower than the NOK 1.7 million reported in the first half of 2023. Net sales equalled NOK 0.1 million during the first half of 2024, and consisted to 100 percent of Zwipe access, compared to NOK 0.05 million during the first half of 2023.
Total operating expenses totaled NOK 29.4 million in the first half of 2024, down NOK 28.1 million compared to the first half of 2023. Personnel expenses were down to NOK 13.6 million compared to NOK 28.3 million in the first half of 2023, as headcount has decreased in line with the restructuring plans presented in June 2023 as well as in January 2024. Other operating expenses of NOK 14.6 million in the first half of 2024 were also significantly lower when compared to NOK 26.9 million in the first half of 2023, driven mainly by lower development, certification, marketing and travel costs. Depreciation, amortization and impairment amounted to NOK 0.7 million in the first half of 2024 versus NOK 1.0 million during the first half of 2023.
The above resulted in net income for the first half of 2024 of NOK -30.0 million, substantially better than NOK -56.1 million reported in the first half of 2023.
Cash flow During the first half of 2024, cash flow from operations and investments, before financing and facilitation, was NOK -40.9 million from NOK -59.3 million in the first half of 2023, an improvement with NOK 18.4 million.
Cashflow from financing activities equalled NOK 24.1 million and represents the remaining cash outstanding from the fundraising in the fourth quarter of 2023.
Total net cash flow for the first half of 2024, including cash flow from financing and investing activities, was NOK -17.0 million compared to NOK 25.4 million in the first half of 2023, as Zwipe completed a rights issue raising NOK 100.1 million in gross proceeds in the first half of 2023. Investments, liquidity, and financial position On 30 June 2024, cash and cash equivalents were NOK 25.2 million, compared to NOK 76.0 million on 30 June 2023.
As of 30 June 2024, production equipment, machinery, and fixtures were valued at NOK 3.7 million, and made up all long-term assets. Including cash of NOK 25.2 million, inventories of NOK 23.5 million, and receivables of NOK 1.2 million, current assets stood at NOK 49.9 million giving total assets of NOK 53.7 million.
Total equity as of 30 June 2024 amounted to NOK 30.7 million. Liabilities totaled NOK 22.9 million, comprising solely short-term liabilities. Consequently, the equity ratio stood at 57%.
This disclosure contains information that Zwipe AS is obliged to make public pursuant to the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 22-08-2024 08:00 CET.
Zwipe AS will publish its H1 2024 financial report on 22 August 2024 at 08.00 CET. On the same day at 14.00 CET, the company will host a webcast to present the report. After the presentation, the webcast will be opened up for questions from the audience.
Participants will be required to register to listen to the webcast and participate in the Q&A.
Webcast details:
Date: 22 August, 14.00 CET
Format: webcast and Q&A
Language: English
Link:
https://app.webinar.net/DgvB0X80NM3
For more information contact:
OSLO, NORWAY – 31 January 2021 – Zwipe AS, a biometric fintech pioneering the development of next generation biometric solutions in payments and access control, has appointed Danielle Glenn as its new CFO and Head of IR effective from 1 May 2022.
Ms. Glenn (44) will join Zwipe from her current position as CFO of Arctic Bioscience AS, a Norwegian biotech company. While at Arctic Bioscience, Ms. Glenn managed the company’s capital markets activities including its MNOK 300 IPO on Euronext Growth Market in Oslo in February 2021. In addition to her responsibilities as CFO, she was also responsible for Investor Relations and heavily involved in setting the company’s overall strategic, commercial, operating and investment plans. At Zwipe, she will help lead the company through its next phase of international commercialization as the company approaches mass volume rollout of biometric cards withing payments and access control.
“Zwipe is continually expanding the commercial and strategic opportunities for its unique biometric technology. Danielle’s background as a CFO operating at the intersection of finance, commercial operations, technology and investor relations in fast-growing companies as well as her deep experience from international capital markets will provide us with the financial skill set we need to increase long-term stakeholder value in the coming years,” says André Løvestam, CEO of Zwipe.
Prior to joining Arctic Bioscience, Ms. Glenn worked in several management roles with start-up and scale-up companies in Norway upon moving to Oslo in 2016. She spent the majority of her career in London and New York, working at Goldman Sachs, Caxton Associates and Bywater Capital as a global macro hedge fund manager and Chief Investment Officer. Ms. Glenn graduated magna cum laude from Harvard University with a BA in History and Science.
“I am impressed by the innovation Zwipe is demonstrating in the fintech space, honoured by the confidence management and the Board has placed in me, and excited to help build upon Zwipe’s strong commercial and technological momentum. I very much look forward to joining a Norwegian company with global ambitions and an impressive international team,” says Ms. Glenn.
Ms. Glenn will take over from Lars Kristian Solheim who has decided to pursue other opportunities. Mr. Solheim has been the CFO since March 2020 and continues as CFO of the company through April 2022.
“On behalf of the whole management team and Board, I would like to thank Lars Kristian for his hard work and unquestionable dedication. He has acted as CFO during an important and transformative stage in our growth story, providing valuable contributions and wise counsel. I wish him the very best in all his future endeavours,” says Mr. Løvestam, CEO of Zwipe.
For further information, please contact:
André Løvestam
CEO of Zwipe AS
Phone: +47 934 36 952
Email: andre@zwipe.com
This is information that Zwipe AS is obligated to make public pursuant to the EU Market Abuse Regulation on Euronext Growth Oslo and on Nasdaq First North Growth Market Stockholm. 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 above, at 13:30 CET on 31 January 2022.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. The company works across networks of international organizations, industries and cultures to make convenience safe and secure. Zwipe is pioneering next-generation biometric card and wearables technology for payments, physical & logical access control, and identification solutions. The company promises 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.
OSLO, NORWAY – 20 January 2022 – Primary insider André Løvestam, CEO of Zwipe AS (the "Company"), has today exercised 384,000 stock options, each giving the right to acquire one share in the Company at a strike price of NOK 10.00. The stock options have been allocated to André Løvestam under the Company's stock option incentive program. After completion of the transaction, André Løvestam will, through Energetic AS and privately, own 1,300,000 shares and hold 306,000 options, each giving the right to acquire one share in the Company.
Attached is a copy of the form submitted to the Norwegian FSA, Finanstilsynet, reporting the transaction as listed above:
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About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free. To learn more, visit www.zwipe.com
For more information, please contact:
Lars Kristian Solheim, CFO
+47 991 661 35
lars.kristian@zwipe.com
This is information that Zwipe AS is obligated to make public pursuant to the EU Market Abuse Regulation on Euronext Growth Oslo and on Nasdaq First North Growth Market Stockholm. 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 above, at 12:45 CET on 20 January 2022.
OSLO, NORWAY and PARIS, FRANCE – 19 January 2022 – Biometric fintech company Zwipe and K2 sas, an affiliate of Cards Systems Group (CSG) and a leading provider of payment card personalization solutions in the Middle East and Africa (MEA) have partnered to address the growing demand for biometric payment solutions in the region. Together with CSG, the parties will bring the next generation payment cards to the MEA region and France.
CSG is an international service and integrated solution provider for card management systems. Founded in 2008, it operates in over 20 countries to offer turnkey card payment and issuance solutions. The group works with major banks, personalization bureaus and card manufacturers to ensure their delivery readiness and provide the latest technology and security standards set by Mastercard, Visa and regulators. Currently CSG’s solutions are utilized by 100 customers and over 10 million payment cards annually.
Speaking on the partnership, Bassam Al Khatib, Chief Executive Officer of K2, said: “Our collaboration with Zwipe will be a catalyst in accelerating the deployment of biometric payment cards across the MEA region and France, markets well-known to us. It is time for banks to embrace next generation contactless cards using the cutting-edge biometric technology that Zwipe brings to the payment marketplace and end users. We will leverage our large network of existing bank clients to conduct multiple pilots, starting already in H1 2022, followed by commercial launches”.
Zwipe will provide K2 and CSG with technical support and services for the implementation of Zwipe Pay biometric cards including value added services for issuers. These cards will be manufactured and delivered by Zwipe’s certified smart card manufacturers in the region.
“K2 and CSG are very important additions in our fast-growing delivery ecosystem and will be a key enabler for our accelerated growth in the MEA region and France. The Group is also a highly respected brand in delivering card personalization solutions and trusted by leading banks in the entire region. I am confident that this partnership will lead to multiple commercial launches of Biometric Payment Cards,” said Ramzi Saboury, General Manager at Zwipe for MENA region.
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About K2 / Cards Systems Group
A team of EMV specialists that joined forces in 2009 to establish an aggressive and farsighted organization. K2, an affiliate of the group, was created in 2017 to find solutions ahead of time through anticipating problems that businesses might encounter in today’s dynamic market. The group serves hundreds of satisfied clients from eleven different countries spreading over four continents. CSG aspire to be the partner of choice for the card business in the Middle East and Africa region.
To learn more, visit www.k2ss.fr, cardsysa2z.com
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 zwipe.com
For further information please contact: André Løvestam, CEO, +47 991 6135 info@zwipe.com
OSLO, NORWAY and MEXICO CITY, MEXICO – 31st December 2021 – Biometric fintech company Zwipe and Forzacard, the leading domestic card manufacturer in Mexico, have agreed to develop and launch biometric cards powered by Zwipe and bring these innovations to banks and organizations looking for the latest solutions based on biometric card-authentication in Central and North America.
Forzacard is a Mexico-City based 100% Mexican company, founded in 1991, delivering more than 25 million payment cards per year across multiple countries. The company has extensive operations in Central and North America and is part of Forzaform Group, one of the oldest and most respected industrial groups in the secure printing industry. Forzacard offers a wide range of payment products and services and is a Visa, MasterCard and Carnet 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 the card payment 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 Mauricio Benavides President of Forzaform.
Starting with biometric payment cards, Zwipe will deliver the Zwipe Pay ONE technology platform, technical guidance, and market support services as part of the agreement.
Speaking on the partnership, André Løvestam, CEO at Zwipe says “Mexico is leading the way in the adoption of biometric payment cards in Central and North America. Partnering with Forzacard in Mexico will enable us to respond to a strong and growing demand for biometric payment cards from banks and payment service providers in that region.”
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About Forzacard
Forzacard has always been at the forefront of bringing payment innovations to banks in Mexico since its inception in 1991 and part of ForzaForm S.A. de C.V., a 100% Mexican Corporation of world class. The company’s growth is driven by its wide variety of products and processed materials alongside extensive R&D and continuous investments in emerging technologies, always guaranteeing highest levels of quality and security.
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free.
For more information contact: André Løvestam, CEO, +47 991 66 135, info@zwipe.com
OSLO, NORWAY and BEIRUT, LEBANON – 27 DECEMBER 2021 – Zwipe is pleased to announce that a medium sized bank in Levant has confirmed a pilot of biometric payment cards enabled with Zwipe Pay ONE in the first half of 2022. The bank is one of the leading brands in the wealth management segment serving thousands of high net-worth and affluent consumers. Zwipe’s single silicon biometric payment card platform has triggered a lot of interest across many markets in the Middle East where banks are well known to use modern digital platforms to deliver world-class user experience and security.
The bank will be supported with the pilot by one of Zwipe’s well-established strategic partners in the region, areeba, that was also amongst the first in the region to recognize the great potential of biometric payments when it launched pilots with many leading banks in the region in 2018. areeba is a well-recognized innovator in the region, pursuing a strategy of driving digital transformation and service excellence through modern technologies.
Speaking on this development, Maher Mikati, CEO at areeba said, “We are always seeking to make use of the latest technologies available to make life more convenient and safer for our esteemed clients. With biometric payments we will significantly enhance user experience and security of our card payment products. We are pleased to pilot the latest generation of biometric cards with Zwipe and this leading bank in wealth management and private banking in the region.”
Ramzi Saboury, General Manager of Zwipe in MENA Region said: “We are very proud that, just weeks after deciding to issue biometric payment cards for their customers in Lebanon and Iraq respectively, areeba is ready to issue biometric payment cards as a service to other issuers in collaboration with Zwipe. We are confident that the pilot will show how biometric payment cards can help the bank to attract new customers, uplift customer loyalty and ensure excellent returns from their payment portfolio. Zwipe will be supporting the bank through all stages of the pilot journey, ensuring smooth pilots with strong end user focus.”
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About areeba
areeba is an electronic payment technology company licensed by Visa and MasterCard and has an agreement with American Express & Discover. Established in 2017, areeba adopts the latest technologies and provides solutions and payment services to banks, governments and merchants to suit their aspirations and needs.
areeba offers services tailored to global requirements, from card issuance and management, non-contact payment solutions, contactless and mobile payment. It also provides merchants and governments with the latest e-commerce platform and point-of-sale machines that adopt the highest standards and safety systems. areeba operates a wide range of loyalty programs, including collecting points and miles, cashback programs, and providing consultancy services for the planning, design and development of electronic products and payment solutions.
For more information, visit www.areeba.com, or @areebalebanon on LinkedIn, Facebook or Instagram. areeba media contact: Nouchka El Hage, +961-1-954325 - NHage@areeba.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 zwipe.com. For further information please contact: André Løvestam, CEO, +47 991 66 135, info@zwipe.com
OSLO, NORWAY, HYDERABAD and PUNE, INDIA - 27 DECEMBER 2021 – Zwipe, KL HI-TECH and Easy Pay can confirm that they will pilot biometric payment cards in India, aiming for commercial launches by summer 2022. Easy Pay is one of the fastest growing payment brands in India whose services are used by over 2 million retail stores and millions of consumers. Zwipe is a fintech pioneering the development of next generation biometric payment solutions.
Founded in 2014, Easy Pay has grown rapidly to become a leading payment brand for merchants and consumers in India. “Paisa Nikal” is an AADHAR Enabled Payment Service (AEPS) which has been ideated and executed by Easy Pay allowing hassle-free and safe transactions for millions of users. In 2020, it processed payment transactions worth USD 8.4 billion (expected to reach USD 12 billion in 2021). Easy Pay has now decided to issue next generation biometric payment cards in collaboration with Zwipe and KL HI-TECH, Zwipe’s manufacturing partner in India.
Speaking on this development, Nilay Patel, Founder & CEO of Easy Pay said, “We are very pleased to bring the next generation contactless cards to India, enabling world-class security, safety and experience for our customers. We see many use cases for biometrics beyond payments, for example access cards for use in hotel chains, as well as high-end real-estate and smart city projects where we have long term contracts and a demanding client base. Following internal tests and external pilots we aim for commercial launches of biometric payment cards during summer of 2022.”
Besides the core biometric card technology, Zwipe will also support Easy Pay through all stages of the pilot ensuring that end users’ experiences and feedback are systematically captured and impact on business case thoroughly assessed.
André Løvestam, CEO of Zwipe said, “We are proud to confirm our first pilot in India, one of the world’s largest and fastest growing payment markets. Easy Pay has been a pioneer in driving innovative payment services and biometrics will enable them to further drive differentiation based on security, safety, and user experience. We are delighted that our card manufacturing partner, KL HI-TECH, is part of this exciting journey which we very much look forward to pursuing together”.
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About Easy Pay
Easy Pay is an emerging Payment Solutions Company which is creating its own niche in the Fintech Industry. Formed by highly professional and technological advanced team members and backed by strong corporate ethics. The team works in bridging solutions mainly in the area of payments and bio-metrics. It is India’s upcoming payment domain that facilitates all kinds of payments for everyone and everywhere under one umbrella.
Paisa Nikal is an AADHAR Enabled Payment Service (AEPS) which is ideated & executed by Easy Pay which allows quick, hassle-free & safe transactions. This futuristic model is designed to empower retailers for making digital transactions fast & automated. We're offering comfort & convenience to both the retailers and consumers. Moreover, it even extends electronic payment services to large social strata of customers that do not have the means to pay electronically. It even manages payments for multiple institutional clients and provides them with innovative solutions for business expansion.
This unique business model allows facilitating payments with multiple modes such as cash, card, cheque, net-banking, e-wallet & etc. With much pride & enthusiasm, we're vigorously contributing to the #DigitalIndia Campaign!
Website: www.easypay.in
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 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 zwipe.com For further information please contact: André Løvestam, CEO, +47 991 66 135, info@zwipe.com
About KL HI-TECH
KL HI-TECH Secure Print Limited (KLHT) is a leading provider of secure print products and printing solutions. Commencing its operations in 1988, KLHT has played a pioneering role in enabling secure payment transactions, banking services and facilitating tele communications in India through its secure print products. At its sprawling state-of-the-art highly secure manufacturing facility located in Hyderabad, the company operates using stringent global standards that are required to manufacture a range of security printing products. The company is certified by Visa, Mastercard & RuPay (National Payments Corporation of India). As per the Nilson Report (2020) KL HI-TECH is the 2nd largest banking card manufacturer in India and 31st largest banking card manufacturer in the world.
KLHT’s business ideology revolves around the prime objective of providing comprehensive, fool-proof security in critical secure print products. KLHT plays a pivotal role by manufacturing products for Banks and Financial Institutions, Central and State Governments, Educational Boards and Institutions, Telecom Sector, Nationwide Election Commissions and Transport Sector.
Exporting to over 52 countries across the Globe, KLHT aims to become one of the leading suppliers of secure print products globally, whilst also pioneering innovation and change to the way payments are made in India and across the globe.
For further information please contact Kartik Shekar, VP – Projects, kartik@klhitech.com, +91 8008 188 466
OSLO, NORWAY – 22 December 2021 – Zwipe has received a commercial order worth MNOK 0.6 for Zwipe Pay ONE. This is the first Zwipe Pay ONE order from this card manufacturer and will be delivered in Q1 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 zwipe.com
For further information please contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
OSLO, NORWAY - 22 December 2021
With our eyes set on the long-awaited commercial breakthrough for Zwipe which now seems highly likely to happen in 2022, we have spent the last four years undergoing a transformation which has laid the foundation for Zwipe’s long-term success:
Each step on this journey, and each new partner and customer in our ecosystem, contributes to increasing the value creation potential and reducing the risk for Zwipe and its stakeholders. We have indeed come a long way in that regard.
A transformative year
Even on this backdrop, 2021 has been a transformative year for Zwipe:
Adding to our confidence in our future outlook is the universal evidence from numerous consumer surveys from diverse markets around the world that cardholders worldwide will benefit greatly from the touch-less and PIN-free experience with world-class security that is made possible by biometric payment and access control cards. Consumers’ strong trust in and demand for biometrics has been consistent with the findings from our industry peers and other analyst reports.
We also demonstrated Zwipe Pay ONE sample cards from several of our clients, showcased all the Zwipe Pay ONE components, and demonstrated live transactions with Zwipe Pay ONE enabled biometric cards, along with a range of innovative enrolment solutions, at TRUSTECH 2021 in Paris.
Figure 1: Zwipe Pay ONE based cards from Masria Digital Payments (Egypt). KL Hi-Tech (India), Tag Systems (Andorra), Toppan Forms (Hong Kong), Inkript (Lebanon) and Beautiful Cards Corporation (Taiwan).
Figure 2: Left-hand photos are the front and back of a transparent demo card based on Zwipe Pay ONE. Middle photos are the ZPO passive inlay and the ZPO enrolment sleeve, while the right-hand photos are ZPO module on reel (contact plate with single silicon secure element mounted on the back) and the IDX3405 sensor on 35mm tape.
Closing in on pilots and certification
Like most other companies engaged in multinational development projects, Zwipe has felt the effects of COVID-19 through added complexity, extended lead times and delays. I have been impressed by the grit and determination of my team and our technology partners, systematically overcoming the hurdles as they come.
Having said that, we have made good progress with many issuers that signed up for pilots through 2021. This ranges from running internal tests of biometric cards at issuers to helping their engagements with schemes and supporting them with guidance in preparing the issuing backend to process biometric payments. And feedback from customers has been great; “Paying has been super easy and fast”. That’s exactly what you want to hear from the field!
Next milestone is the submission of Zwipe Pay ONE based reference cards for certification by both VISA and Mastercard. Zwipe’s technology partner, Idemia, announced in November 2021, that it had obtained full certification from both schemes for its F.CODE biometric payment card. These certifications (Letters of Approval) represent full validation of the core components in our Zwipe Pay ONE platform, notably the shared single silicon biometric secure element, where Idemia and Zwipe have co-invested since 2019, and the IDX3405 fingerprint sensor from Idex Biometrics.
The Zwipers
Last, and most importantly, I want to express my deep gratitude to the exceptional Team of Zwipers around the world whose passion and grit continued to create so much value for our customers, partners, and shareholders through this challenging pandemic which has taken its toll on everyone. The purpose of our efforts is to give everyone the power of access by being themselves no matter where they are or who they are.
My sincere thanks also go out to all our customers, partners, and shareholders for sharing our mission and supporting our journey.
I wish each one of you all a Merry Christmas and a Happy, Healthy and Prosperous New Year!
OSLO, NORWAY and BAGHDAD, IRAQ – 22 December 2021 - Zwipe and International Network for Cards and Digital Payment Services (INC) are pleased to confirm that they will pilot Biometric Payment Cards in Iraq. This will be the first biometric payment card pilot in the country. As one of the fastest growing cards and payments companies in Iraq, INC will be offering issuance of white label biometric cards as a service for banks and other payment companies.
In collaboration with Zwipe, INC will incorporate biometric payment cards in its portfolio and offer it as a standard payment product to its client banks in the Iraqi market, with the first client being INC’s own NEO Visa cards which will be introduced as the first biometric plastic cards in Iraq.
This development was made possible through INC’s strategic partner Nymcard which confirmed in September 2021 its collaboration with the Norwegian technology company Zwipe to bring biometric payment cards to the MENA region.
Speaking on this development, Zaid Fawzi, CEO and Founder of INC, said: “We are proud to step up our collaboration with Zwipe and bring the next generation contactless experience to Iraq. Our partnership with Zwipe has greatly strengthened INC’s mission to deliver payment solutions with state-of-the-art security and world-class user experience. Our pilot in Iraq with the NEO Visa cards will be the first step in bringing this fantastic product to other players in the market.”
General Manager for MENA region at Zwipe, Ramzi Saboury said: “Our partnership with NymCard and its subsidiaries in the region such as INC will greatly accelerate the deployment of next generation contactless cards. I am happy to launch this pilot project with INC in Iraq - a large market with huge growth potential. It is worth mentioning that the Central Bank of Iraq has already endorsed our initiative to bring biometric payment cards to Iraq and is encouraging all Iraqi banks to be part of this exciting innovation.”
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About INC
The International Network for Cards and digital payment services (INC) is an Iraqi registered company and holds a license as Issuer and Processor to practice business in electronic payments from the Central Bank of Iraq No. (7) according to Law No. (56) issued in 2004. Through its NEO brand, INC has released a state of the art mobile app featuring a digital wallet, and enabled online card payments to its customers via the first virtual Visa card in Iraq, in addition to other card programs such as NEO Visa Gift and NEO Visa Travel, available as physical plastic cards with the aim to increase financial inclusion in the Iraqi market.
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 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 zwipe.com
For further information please contact: André Løvestam, CEO, +47 991 66 135, info@zwipe.com
