NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO RUSSIA, BELARUS, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION WHERE SUCH ACTION 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 – 6 MARCH 2023 - Reference is made to previous stock exchange announcements from Zwipe AS (the "Company" or "Zwipe") regarding a fully guaranteed rights issue of 20,862,047 new shares in the Company (the "Offer Shares"), raising gross proceeds of NOK 100,137,825,60 (the "Rights Issue").
The subscription period in the Rights Issue starts today, 6 March 2023, at 09:00 hours (CET). Certain information about the Rights Issue is set out below. The complete terms and conditions of the Rights Issue are set out in the Prospectus (as defined below).
Erik Penser Bank AB is acting as manager in the Rights Issue (the "Manager").
Allocation and grant of subscription rights
The shareholders of the Company as of 27 February 2023 and being registered as such in Euronext Securities Oslo, the Norwegian Central Securities Depository ("VPS") or in Euroclear Sweden AB through the arrangement with SIX SIS AG ("Euroclear") as at the expiry of 1 March 2023 (the "Record Date", the "Existing Shareholders" and "Existing Share(s)") will be granted transferable subscription rights in the Rights Issue (the "Subscription Rights") that, subject to applicable law, provide preferential rights to subscribe for, and be allocated, Offer Shares at a subscription price of NOK 4.80 each (the "Subscription Price").
Each Existing Shareholder has been granted one (1) Subscription Right for each Existing Share registered as held by the Existing Shareholder in VPS or in Euroclear at the Record Date. The Subscription Rights have been distributed free of charge to the Existing Shareholders.
Nine (9) Subscription Rights will, subject to applicable law, give the right to subscribe for, and be allocated, five (5) Offer Shares in the Rights Issue.
The grant or purchase of Subscription Rights and the subscription of Offer Shares by persons resident in, or who are citizens of countries other than Norway or Sweden, may be affected by laws of the relevant jurisdiction. For more information regarding restrictions in relation to the Rights Issue, see Section 16 "Selling and Transfer Restrictions" in the prospectus prepared by the Company and dated 1 March 2023 (the "Prospectus"). The Prospectus is, subject to applicable local securities laws, available at the websites of the Company (https://www.zwipe.com/investors/reports) and the Manager (https://www.penser.se/corporate-finance/#pagaende-uppdrag).
Subscription period
The subscription period will commence on 6 March 2023 at 09:00 hours (CET) and end on 20 March 2023 at 16:30 hours (CET) (the "Subscription Period"). The Subscription Period may not be shortened, but the Company's board of directors (the "Board") may extend the Subscription Period and, if so required by the EU Prospectus Regulation, make public a supplement to the Prospectus.
Subscription Rights
The Subscription Rights in the Rights Issue will be tradeable on Euronext Growth Oslo under the ticker code "ZWIPT" and on Nasdaq First North Growth Market under the ticker code "ZWIPE TR" from 6 March 2023 at 09:00 hours (CET) until close of trading on Euronext Growth Oslo (at 16:30 hours CET) and on Nasdaq First North Growth Market (at 17:30 hours CET), respectively, on 14 March 2023.
Persons intending to trade in Subscription Rights should be aware that trading in, and exercise of, Subscription Rights by holders who are located in jurisdictions outside of Norway or Sweden may be restricted or prohibited by applicable securities laws. See Section 16 "Selling and Transfer Restrictions" in the Prospectus for further information.
Subscription Rights that are not used to subscribe for Offer Shares before the expiry of the Subscription Period on 20 March 2023 at 16:30 hours (CET) or sold before 14 March at 16:30 hours (CET) will have no value and will lapse without compensation to the holder.
The Subscription Rights are expected to have economic value if the Company's shares trade above the Subscription Price during the Subscription Period. Existing Shareholders who do not use their Subscription Rights will experience a dilution of their shareholding in the Company, as further detailed in Section 5.22 "Dilution" of the Prospectus.
Subscription Price
The Subscription Price is NOK 4.80 per Offer Share.
Subscription procedures
Subscription procedures for subscribers with a VPS account
Subscriptions for Offer Shares by subscribers with a VPS account must be made by submitting a correctly completed subscription form ("Subscription Form") to DNB Bank ASA, Registrar's Department (the "VPS Registrar") during the Subscription Period, or may, for subscribers who are residents of Norway with a Norwegian personal identification number (Nw. fødselsnummer), be made online as further described below.
Correctly completed Subscription Forms must be received by the VPS Registrar at the following address: Dronning Eufemias gate 30, P.O. Box 1600 Sentrum, N-0021 Oslo, Norway, or e-mail address: retail@dnb.no , or in the case of online subscriptions be registered, no later than 16:30 hours (CET) on 20 March 2023.
Subscribers who are residents of Norway with a Norwegian personal identification number are encouraged to subscribe for Offer Shares through the VPS online subscription system (or by following the link on https://www.zwipe.com/investors/reports, which will redirect the subscriber to the VPS online subscription system). All online subscribers must verify that they are Norwegian residents by entering their national identity number. In addition, the VPS online subscription system is only available for individual persons and is not available for legal entities. Legal entities must, thus, submit a Subscription Form in order to subscribe for Offer Shares. Subscriptions made through the VPS online subscription system must be duly registered before the expiry of the Subscription Period.
Subscribers that are not able to use the VPS online subscription system must submit a correctly completed Subscription Form to the VPS Registrar during the Subscription Period. The Subscription Form is attached to the Prospectus.
Subscription procedures for the Swedish market
Subscriptions for Offer Shares by holders of Subscription Rights through Euroclear must be made pursuant to the instructions they receive from either Euroclear or the holders' bank or financial intermediary during the Subscription Period.
The underwriting and subscription commitments
The gross proceeds of the Rights Issue have been fully guaranteed by certain pre-committed shareholders (the "Pre-Committed Shareholders") and certain underwriting shareholders (the "Underwriters") in underwriting agreements dated 22 November 2022 (the "Underwriting Agreements" and the "Underwriting"). The Underwriters have, on a firm commitment basis, undertaken, severally and not jointly, and otherwise on the terms and conditions set out in the Underwriting Agreements to underwrite the Rights Issue for a total underwriting amount of NOK 65,612,198.40, i.e. for all the Offer Shares less an amount of NOK 34,525,627.20 being covered by subscription commitments from the Pre-Committed Shareholders.
Pursuant to the Underwriting Agreements, each Underwriter will receive an underwriting fee of 14% of their respective underwritten amount.
The Underwriting will expire in the event that the relevant Underwriter is not notified of any allocation under the Underwriting Agreement within 30 April 2023.
See Section 5.23 "The Underwriting and Subscription Commitments" in the Prospectus for further information about the Underwriters and the Pre-committed Shareholders.
Conditions for completion of the Rights Issue
The completion of the Rights Issue is subject to the Underwriting Agreements remaining in full force and effect if required in order to raise the gross proceeds.
If it becomes clear to the Board that the entire gross proceeds of the Rights Issue will not be raised, for instance due to the Company not having received the aggregate subscription amount for the Offer Shares, the Rights Issue will be withdrawn. The Board may choose to delay completion of the Rights Issue if part of the subscription amount is not received by the Company on time.
If the Rights Issue is withdrawn, all Subscription Rights will lapse without value, any subscriptions for, and allocations of, Offer Shares that have been made will be disregarded and any payments for Offer Shares made will be returned to the subscribers without interest or any other compensation. The lapsing of Subscription Rights will be without prejudice to the validity of any trades in Subscription Rights, and investors will not receive any refund or compensation in respect of Subscription Rights having been purchased in the market.
See section 5.5 "Completion of the Rights Issue" in the Prospectus for further information about the completion of the Rights Issue.
Financial intermediaries
All persons or entities holding Existing Shares or Subscription Rights through financial intermediaries (e.g., brokers, custodians and nominees) should read Section 5.12 "Financial intermediaries" in the Prospectus. All questions concerning the timeliness, validity and form of instructions to a financial intermediary in relation to the exercise of Subscription Rights should be determined by the financial intermediary in accordance with its usual customer relations procedure or as it otherwise notifies each beneficial shareholder.
Allocation of Offer Shares – listing and commencement of trading in the Offer Shares
Following expiry of the Subscription Period, the Offer Shares will be allocated to subscribers in accordance with the allocation principles described in Section 5.14 "Allocation of the Offer Shares" in the Prospectus. Payment for allocated Offer Shares falls due on or about 24 March 2023.
Subject to timely payment of the entire subscription amount in the Rights Issue, the Company expects that the share capital increase pertaining to the Rights Issue will be registered with the Norwegian Register of Business Enterprises on or about 28 March 2023. Under the same conditions, allocated Offer Shares are expected to be delivered on or about 29 March 2023 through the facilities of VPS and on or about 31 March 2023 through the facilities of Euroclear. Trading in the Offer Shares on Euronext Growth Oslo is expected to commence on or about 28 March 2023 and on Nasdaq First North Growth Market on or about 31 March 2023.
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This information is published in accordance with the requirements of the Continuing Obligations set out in Euronext Growth Rule Book Part II for Euronext Growth Oslo.
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For further information, please contact:
Danielle Glenn, CFO and Head of IR
E-mail: ir@zwipe.com
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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 published by Zwipe on 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, 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 Euronext Growth Oslo's or Nasdaq First North Growth Markets' regulations for issuers.
OSLO, NORWAY – 3 MARCH 2023 - Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 15 February 2023 regarding the approval by the Company's extraordinary general meeting of a fully guaranteed rights issue of 20,862,047 new shares in the Company, at a subscription price of NOK 4.80 per new share, raising gross proceeds of NOK 100,137,825.60 (the "Rights Issue") with transferable preferential rights to subscribe for, and be allocated, the new shares in the Rights Issue (the "Subscription Rights") by the Company's shareholders as of 27 February 2023 (and being registered as such in the VPS or in Euroclear as at the expiry of 1 March 2023).
Please see the attached notifications of trade for information regarding the primary insiders' and their close associates' receipt of Subscription Rights in the Rights Issue.
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This information is subject to the disclosure requirements in article 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.
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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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For further information, please contact:
Danielle Glenn, CFO and Head of IR
E-mail: ir@zwipe.com
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 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 – 1 MARCH 2023 - Reference is made to the stock exchange announcement published by Zwipe AS (the "Company" or "Zwipe") on 15 February 2023 regarding the approval by the Company's extraordinary general meeting of a fully guaranteed rights issue of 20,862,047 new shares in the Company, at a subscription price of NOK 4.80 per new share, raising gross proceeds of NOK 100,137,825.60 (the "Rights Issue").
The Financial Supervisory Authority of Norway (Nw. Finanstilsynet) has today, on 1 March 2023, approved a prospectus prepared by the Company in connection with the Rights Issue (the "Prospectus"). The Prospectus is expected to be passported to Sweden tomorrow, on 2 March 2023. Subject to applicable local securities laws, the Prospectus will be made available at the Company's website (https://www.zwipe.com/investors/reports) and the website of Erik Penser Bank (https://www.penser.se/corporate-finance/#pagaende-uppdrag) during the course of 3 March 2023. Physical copies of the prospectus may be obtained free of charge at the Company's offices at Rådhusgata 24, NO-0151 Oslo, Norway by contacting the Company.
The subscription period for the Rights Issue will, subject to it being passported to Sweden and published, commence on 6 March 2023 at 09:00 hours CET and expire on 20 March 2023 at 16:30 hours CET. Subject to the commencement of the subscription period as indicated in the foregoing, the subscription rights in the Rights Issue will be tradeable on Euronext Growth Oslo under the ticker code "ZWIPT" and on Nasdaq First North Growth Market under the ticker code "ZWIPE TR" from 6 March 2023 at 09:00 hours CET until close of trading on Euronext Growth Oslo (at 16:30 hours CET) and on Nasdaq First North Growth Market (at 17:30 hours CET), respectively, on 14 March 2023.
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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 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 20:50 CET on 1 March 2023.
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For further information, please contact:
Danielle Glenn, CFO and Head of IR
Tel: +47 909 98 201 and e-mail: ir@zwipe.com
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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 and JAKARTA, INDONESIA - 1 March 2023 – Wahyukartu, one of Indonesia’s leading smart card manufacturers is partnering with Zwipe to deliver biometric payment cards in Indonesia. Wahyukartu is the country's largest smartcard manufacturer in the identity market as well as the largest personalization bureau in the banking sector.
As part of this collaboration, Zwipe and Wahyukartu will jointly pursue business opportunities for biometric cards in the smart cards market.
Speaking on the partnership Ruddy Hartanto, Founder of Wahyukartu said “Our products have served the Indonesian market for more than 30 years. As a leading smart card provider in Indonesia, we have successfully partnered with many local and international brands. Our partnership with Zwipe will deploy biometric cards technology to ensure the highest standards in security for our customers.”
Zwipe will provide technology and expertise to enable Wahyukartu to manufacture and personalize biometric payment cards using theZwipe platform.
“We are pleased that Wahyukartu is partnering with Zwipe which will help bring biometric payment cards to Indonesia. With Wahyukartu’s strong and diverse customer presence, this collaboration strengthens Zwipe’s position in the APAC market. Zwipe’s expertise and leadership on biometric payment cards platform will enable Wahyukartu to deliver innovative, secure and convenient payment cards to their customers,” said Robert Puskaric, CEO of Zwipe.
About Wahyukartu
Founded in 1991, Wahyukartu is Indonesia’s biggest and first card manufacturer that is completely certified in Indonesia to have ISO, Visa, Mastercard, JCB, NSI, and personalization bureau card certifications. We offer the best quality cards by applying state-of-the-art technology, appointing well-trained human resources and utilizing the best materials available in our printing process to meet customer requirements.
To learn more, visit wahyukartu.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 & cultures to make convenience safe & secure. We are pioneering next-generation biometric card 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 zwipe.com
Issuer name: Zwipe AS
Ex. date: 28 February 2023
Type of corporate action: Rights issue
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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This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo.
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For more information, please contact:
Danielle Glenn, CFO and Head of IR
ir@zwipe.com
OSLO, NORWAY – 27 February 2023 - Reference is made to the fully guaranteed rights issue in Zwipe AS (the "Company"), raising gross proceeds of approximately NOK 100 million as approved by the Company's general meeting (the "Rights Issue"). The information below updates the key information relating to the Rights Issue announced by the Company on 22 November 2022.
Date on which the terms and conditions of the preferential rights issue were announced: 22 November 2022
Last day including right: 27 February 2023
Ex-date: 28 February 2023
Record Date: 1 March 2023
Date of approval: 2 December 2022 and 15 February 2023, respectively
Number of new shares: 20,862,047
Subscription price: NOK 4.80
Ratio subscription rights: Each existing shareholder as of 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) subscription right for each share registered as held by the shareholder on the record date.
Subscription ratio: Nine (9) subscription rights will give the holder the right to subscribe for five (5) new shares (i.e. the holding of less than 9 subscription rights will not give the holder the right to subscribe for any new shares).
Manager: Erik Penser Bank AB
Will the subscription rights be listed – yes/no: Yes, subject to a prospectus for the Rights Issue (the "Prospectus") being approved by the Norwegian Financial Supervisory of Norway (the "NFSA") and published, the subscription rights will be admitted to trading on Euronext Growth Oslo. The subscription rights will be admitted to trading on Nasdaq First North Growth Market once the Prospectus approved by the NFSA is passported to Sweden and published.
ISIN for the subscription rights: The subscription rights to be listed on Euronext Growth Oslo will have ISIN NO 001 2818048 and ticker "ZWIPT" and the subscription rights to be listed on Nasdaq First North Growth Market will have ISIN SE 001 9891334 and ticker "ZWIPE TR".
Other information: The Rights Issue is fully guaranteed through a combination of subscription commitments and underwriting commitments. The underwriting commitments will expire in the event that the relevant underwriters are not notified of any allocation under the underwriting agreements within 30 April 2023. Subject to the approval by the NFSA, passporting to Sweden and publication of the Prospectus, the subscription period for the Rights Issue will commence on 6 March 2023 at 09:00 hours (CET) and end on 20 March 2023 at 16:30 hours (CET) and the subscription rights in the Rights Issue will be tradable from and including 09:00 hours (CET) on 6 March 2023 to 16:30 hours (CET) on 14 March 2023. Any changes in the dates included in this release will be communicated to the market by the Company.
This information is published in accordance with the requirements of the Continuing Obligations set out in Euronext Growth Rule Book Part II for Euronext Growth Oslo.
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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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For more information, please contact:
Danielle Glenn, CFO and Head of IR
ir@zwipe.com
NEW ORLEANS, LOUISIANA and OSLO, NORWAY – 22 February 2023 – Civix, in partnership with Zwipe, is performing a new biometric technology Proof-of-Concept (POC) initiative at Richmond International Airport (RIC), a TSA-approved Airport Innovation Forum member in the USA.
Civix leverages Zwipe technology to power biometric smart cards for access control. The Civix ASC Access Cards use built-in fingerprint sensors to check the legitimacy of cardholders at points of entry. The cards are fully compatible with 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.
National Safe Skies Alliance, Inc. (Safe Skies) is a non-profit organization that works with airports, government, and related industries to maintain a safe and effective aviation security system. Since 1997, they have been a trusted resource for decision makers seeking impartial information on airport security technology and procedures. The Federal Aviation Administration (FAA) provides funding for their programs and in this case, Safe Skies is performing testing as part of its Airport Security System Integrated Support Testing (ASSIST) program.
“We’re pleased to have Safe Skies involved in third-party testing of the ASC Access biometric card solution in a real-world airport environment at the Richmond Airport” said Tim Walsh, President of Civix Airports. "We’re grateful to have Zwipe on-board with their secure platform and access control technology."
Airports today need scalable and robust solutions that are secure, user-friendly, and cost-effective to deploy. Zwipe is part of the next generation of access control solutions that are non-duplicable, therefore improving security and eliminating the risk of stolen or borrowed access cards being used.
Robert Puskaric, President & CEO of Zwipe says, “We are extremely proud to be working with Safe Skies as part of this innovative Proof-of-Concept with Civix, a leading provider of solutions that are improving security at American airports.”
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About CIVIX
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, please visit www.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 technology for both payment and physical and 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, please visit www.zwipe.com
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For more information, please contact:
Danielle Glenn, CFO and Head of IR
OSLO, NORWAY – 15 FEBRUARY 2023 - Reference is made to the stock exchange announcement published by Zwipe AS (the "Company" or "Zwipe") on 8 February 2023 and the notice dated 8 February 2023 of an extraordinary general meeting in the Company to be held on 15 February 2023 (the "EGM"). According to the notice, the board of directors of Zwipe (the "Board") proposed to repeat the resolution on share capital increase raising gross proceeds of approximately NOK 100 million (the "Rights Issue”) resolved by the extraordinary general meeting on 2 December 2022, by making the same resolution once again. Further, the board proposed that the general meeting resolves to amend the Company's articles of association to facilitate advanced voting at future general meetings.
The EGM has today approved both the repeated resolution on the rights issue and the amendment of the Company's articles of association. The minutes from the EGM have been attached to this notice and have also been made available on the Company's website, https://zwipe.com/investors.
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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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This 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 14:30 CET on 15 February 2023
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For more information, please contact:
Danielle Glenn, CFO and Head of IR
ir@zwipe.com
OSLO, NORWAY – 8 FEBRUARY 2023 - Reference is made to the extraordinary general meeting held on 2 December 2022 in Zwipe AS (the "Company" or "Zwipe"), regarding the resolution to complete a guaranteed rights issue in the Company, raising gross proceeds of approximately NOK 100 million (the "Rights Issue”).
Due to the Norwegian Private Limited Liability Companies Act requiring that the subscription period in share capital increases cannot be later than three months from the general meeting's resolution on the share capital increase and because the subscription period for the Rights Issue is planned to begin on 6 March 2023 and end on 20 March 2023, the board of directors of Zwipe (the "Board") calls for a new extraordinary general meeting (the "EGM") to repeat the resolution resolved by the extraordinary general meeting on 2 December 2022 by making the same resolution once again. For the avoidance of doubt, the Rights Issue to be voted on at the EGM is the same Rights Issue as was resolved by the general meeting on 2 December 2022. Further, the Board proposes that the Company's articles of association are amended to facilitate advanced voting at future general meetings.
The EGM will be held on 15 February 2023 at 12:00 hours 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 and proxies is 14 February 2023 at 16:00 hours CET. Shareholders are encouraged to register their notice of attendance and proxies via the link found on the Company's website https://zwipe.com/investors/general-meetings.
Alternatively, the notice of attendance and proxy forms included in the notice 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.
In order to receive the link to the Microsoft Teams meeting, Zwipe's administration will need to have the shareholder's or proxy holder's e-mail address in advance. Thus, shareholders must after having registered their attendance also register their or its proxy's e-mail address by sending an email to ir@zwipe.com.
The Board has proposed the following agenda:
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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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This 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 12:00 CET on 8 February 2023.
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For more information, please contact:
Danielle Glenn, CFO and Head of IR
Tel: +47 909 98 201 and e-mail: ir@zwipe.com
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
