OSLO, NORWAY– 19 May 2021 – The Annual General Meeting in Zwipe AS (Company) was held today. All proposed resolutions were approved unanimously in accordance with the call for the meeting. The minutes of Annual General Meeting are included as an attachment. The complete proposal, which was approved by the Annual General Meeting, is available on www.zwipe.com for further reference. The attendants of the AGM represented 27.3% of the votes in the company.
The following matters were reviewed and confirmed:
Approval of the annual report and financial statements for 2020:
The board’s proposal for the annual report and the financial statements for 2020 for the Company and the group were unanimously approved.
Election of members to the Board of Directors:
The following persons were unanimously elected to as the new Board of Directors:
Jörgen Lantto, Chairman of the board
Dorian Barak
Johan Biehl
Dennis Jones
Stina Granberg
Tanya Juul Kjaer
Remuneration to the members of the Board of Directors and the members of the Nomination Committee
Remuneration to the Board members for the period from the AGM in 2021 until the AGM in 2022 were unanimously approved as follows:
Chairman of the Board: NOK 260,000,-
Members of the Board: NOK 130,000,-
No remuneration to the members of the Nomination Committee was resolved.
Board authorizations to increase the share capital and instructions to the Board regarding use of the authorization to increase the shares capital to strengthen the Company's equity
The Board proposed that two new authorizations for the Board on capital increases are issued, (i) to fulfil the Company's incentive program and (ii) to cater for strengthening of the Company's equity (extract, please see the attachment to the notice for the complete proposal).
i. Authorization for capital increase to fulfill the Company's incentive program
The Annual General Meeting resolved that the Board is hereby granted authorization to increase the share capital of Zwipe AS (the Company), on one or several occasions, with up to NOK 230,631.90 (2,306,319 new shares), equivalent to 7 % of the registered share capital at the time of this resolution. The authorization shall remain in force until the end of the annual general meeting 2022, however not beyond 30 June 2022. The pre-emptive right of the shareholders to subscribe may be set aside.
ii. Authorization for capital increase to strengthen the Company's equity
The Annual General Meeting resolved that the General Meeting granted a new authorization to the Board to issue shares corresponding to up to 15% of the share capital, and the new authorization shall be restricted to issue of shares to strengthen the Company's equity to the extent the Board considers this to be in the Company's best interest at the given time.
The authorization shall remain in force until the end of the annual general meeting 2022, however not beyond 30 June 2022. The pre-emptive right of the shareholders to subscribe may be set aside.
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This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Market Oslo and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0)8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, on May 19, 2021 at 16:30 CEST
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 contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
OSLO, NORWAY and TAOYUAN, TAIWAN – 11th May 2021 – Biometric fintech pioneer Zwipe and Beautiful Card Corporation (BCC) are pleased to announce their partnership to bring Zwipe Pay ONE to markets in Asia. With around 520 million cards produced annually, of which around 20 million are EMV payment cards, BCC is listed as the largest scratch card manufacturer in Taiwan, the 2nd largest in Asia and 7th in the world.
As part of the collaboration, BCC has already commenced manufacturing of biometric payment cards based on the Zwipe Pay ONE platform, embracing the next generation of biometric payment cards and aiming to address the increasing market demand for safer and more secure contactless payments.
Since agreeing on the partnership in December 2020, the two companies have been working closely to complete the fine-tuning of the technical aspects of the solution and begin to gear up to meet the increasing demand for biometric payments. Comprehensive and rigorous tests have proven the ability to scale up production with the aim of delivering pilots and commercial deployments before the end of 2021.
“We are seeing increasing interest in biometric payment cards in our region, especially as consumers become much more familiar with contactless payments and demand safer and more hygienic payment alternatives in store. We have worked seamlessly together and have been able to adapt our manufacturing processes to integrate Zwipe’s biometric solution in our card production and are very pleased with the results. We are excited to now take this partnership to the next level,” says Mrs. Peggy Wu, CEO and Chairman of BCC.
“The Asia Pacific Region, led by countries like Taiwan, Korea, Japan, and India, continues to innovate and lead the world in many areas of payment card technology. We are very pleased that BCC is embracing the Zwipe platform and bringing our collaboration forward, to jointly address the needs of banks and consumers in Asia and global markets,” says André Løvestam, CEO of Zwipe.
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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 contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
About Beautiful Card Corporation
Beautiful Card Corporation (BCC) was founded in October 1991. BCC has state-of-the-art equipment and professional specialists to fulfil their consistent management policy of providing high-quality products with competitive price. Since BCC’s founding, they have been developing new technology in card industry as well as continuously putting efforts to the innovation and improvement of all sorts of cards. Thanks to their continuous efforts, BCC’s capacity was recognized and approved by customers all over the world. BCC’s annual capacity now reaches 200 million Scratch cards, 300 million GSM SIM cards, 20 million EMV cards. BCC has obtained ISO 9001 / IS27001/ ISO14001/ ISO 45001/ ISO14298/MasterCard CQM / Visa / MasterCard / JCB / GSM SAS certifications.
Media Contact for Beautiful Card Corporation: shellen@beautifulcard.com
To learn more, please visit: http://www.card.com.tw/en/about.php
OSLO, NORWAY and CHENNAI, INDIA – 10 May 2021 – FSS (Financial Software and Systems), a leading global provider of integrated payment products and a payment processor, is partnering with Zwipe to bring next generation contactless payment cards to issuers globally. Zwipe is a payment FinTech recognized for having pioneered the development of biometric payments and has delivered many successful pilots around the world.
FSS is among the leading providers of card issuance products globally and its card portfolio consists of 800 plus million payment cards for Tier One banks and payment processors. The organizations will collaborate closely, offering greater value to customers by combining FSS’s Unified Issuance Platform and Zwipe Pay One biometric card capabilities, supported by Zwipe’s fast-growing global network of card manufacturing partners.
The widespread adoption of contactless payment cards has been a huge success in recent years[1]. The Covid-19 pandemic has accelerated the use of contactless payments even further as consumers demand a safe, contact-free transacting environment. However, the lack of cardholder authentication with contactless cards translates into usage being restricted to relatively small and medium value payments, hampering the ability to deliver a fully contact-free experience for all payment values. The response to this is the biometric payment card that fully enables contact-free transactions while boosting confidence and security for consumers, retailers and issuers.
Commenting on the partnership K Srinivasan, Chief Operating Officer, FSS PayTech, said “Biometric payment cards will bring strong differentiation and value uplift to our card issuance and management offerings. Our partnership with Zwipe will help our issuer clients to deliver a completely touchless and PIN-free check out experience, better in-store payments hygiene and much stronger cardholder security. Needless to say, now more than ever, innovation can play a critical role within the context of the global pandemic which makes it even more important to bring solutions such as this quickly to our customers. Zwipe Pay ONE is recognized as the most advanced (Gen3) biometric payment technology and complements FSS’ innovative card portfolio. It will be made available to our clients for piloting and deployment from H2 2021”.
As part of this collaboration, FSS will offer Zwipe Pay ONE biometric payment cards globally. The initial focus will be in those markets where contactless is bringing considerable benefits in the area of financial inclusion as seen in Canada, India and a number of countries within Europe, Middle East (GCC countries) and Africa. Both partners will start engaging with issuers from Q2 2021 and aim for starting pilots from 2H 2021.
“We are humbled and proud to partner with FSS, one of the most respected and global providers of payment services. This is a landmark agreement for Zwipe and will significantly accelerate our growth globally, most notably in Asia, the world’s largest payment market,” said André Løvestam, CEO of Zwipe.
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This is information that Zwipe AS is obliged to make public pursuant to the Continuing obligations of companies admitted to trading on Euronext Growth Market Oslo, Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 10:05 CEST on 10 May 2021.
About FSS
Financial Software and Systems (FSS) is a leader in payments technology and transaction processing. The company offers an integrated portfolio of software products, hosted payment services and software solutions built over 30+ years of experience. FSS, end-to-end payments products suite, powers retail delivery channels including ATM, POS, Internet and Mobile as well as critical back-end functions including cards management, reconciliation, settlement, merchant management and device monitoring. Headquartered in Chennai, India, FSS services leading global banks, financial institutions, processors, central regulators and governments across North America, UK, Europe, ME, Africa, and APAC and has 2,500 experts on-board. For more information visit www.fsstech.com
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 further information please contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
OSLO, NORWAY - 28 April 2021 - The board of directors of Zwipe AS (“the Company”) call for the Annual General Meeting (“AGM”) to be held on 19 May 2021 at 14:00 CEST. Due to the ongoing covid-19 pandemic, the general meeting will be held as a digital meeting on Microsoft Teams.
Please find enclosed the notice of the Annual General Meeting. The notice and Zwipe’s Annual Report for 2020 are available on the Company’s website, https://zwipe.com/investors
Notice of attendance, in person or by proxy, shall be given no later than 18 May 2021 at 16:00 CEST. Shareholders are encouraged to register via the link found here.
Alternatively, the attached form may be sent by e-mail to genf@dnb.no, or regular post to DNB Bank ASA, Verdipapirservice, NO-0021 Oslo.
In order to be invited to the meeting, Zwipe’s administration will need to have the shareholder’s email address in advance. Shareholders must after having registered their attendance also register their email address by sending an email to ir@zwipe.com.
The board of directors (the "Board") has proposed the following agenda:
Opening of the General Meeting by the chair. Registration of meeting shareholders
Election of a meeting chairperson and person to co-sign the minutes together with the chairperson
Approval of the notice and the agenda
Report by the management on the Company
Approval of the annual report and financial statements for 2020 for the Company and the group
Remuneration to the auditor
Election of members to the Board
Remuneration to the Board and the members of the Nomination Committee
Proposal to grant the board a new authorization to increase the share capital
Proposed decisions from the Board
Matter no. 5: Approval of the annual report and financial statements for 2020 for the Company and the group
The boards proposal for annual report and financial statements for 2020 for the Company and the group were unanimously approved.
Matter no. 6: Remuneration to the auditor
The Board proposes that the auditor's fees are paid as per accounts rendered.
Matter no. 7: Election of members to the Board
Subject to the general meeting's approval, the Company's Board of Directors will comprise:
Jörgen Lantto, Chairman of the board
Johan Biehl
Dennis Jones
Diderik Schonheyder
Stina Granberg
Tanya Juul Kjaer
Matter no. 8: Remuneration to the members of the Board and the members of the Nomination Committee
The Nomination Committee makes the following recommendation:
Fees to the Board for the period from the AGM in 2020 until the AGM in 2021 were resolved by the AGM on 14 May 2020.
Fees to the Board for the period from the AGM in 2021 until the AGM in 2022 is suggested as follows:
Chairman of the Board: NOK 260.000,-
Members of the Board: NOK 130.000,-
As to remuneration, the nomination committee proposes that no remuneration is paid to the members of the nomination committee.
Matter no. 9: Proposal on authorizations to the Board on capital increase
The Board proposes that two new authorizations for the Board on capital increases are issued, (i) to fulfil the Company's incentive program and (ii) to cater for strengthening of the Company's equity.
The Board proposes that the General Meeting adopts the following resolution:
1. Authorization for capital increase to fulfill the Company's incentive program
The board of directors is hereby granted authorization to increase the share capital of Zwipe AS, on one or several occasions, with up to NOK 230,498.90 (2,304,989), equivalent to 7 % of the registered share capital at the time of this resolution.
2. Authorization for capital increase to strengthen the Company's equity
The Board proposes that the General Meeting grants a new authorization to the Board to issue shares corresponding to up to 15% of the share capital, and the new authorization shall be restricted to issue of shares to strengthen the Company's equity to the extent the Board considers this to be in the Company's best interest at the given time.
The board of directors is hereby granted authorization to increase the share capital of Zwipe AS with up to NOK 493,926.10 (4,939,261 new shares) on one or several occasions.
The authorization may be used to issue shares to strengthen the Company's equity to the extent the Board considers this to be in the Company's best interest at the given time.
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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 Market Oslo and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 17:35 CEST on 28 April 2021.
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
OSLO, NORWAY - 28 April 2021 - In connection with our first quarter 2021 update, Zwipe is today for the first time publicly demonstrating the world’s first Single Silicon Biometric System on Card that is being offered to card manufacturers globally – namely Zwipe Pay ONE.
A first quarter operational update webcast will be given at 12:00 CEST today. You can register for the presentation by sending an email to events@arctic.com.
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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 further information, please contact: André Løvestam, CEO, +47 991 66 135, ir@zwipe.com
OSLO, NORWAY – 28 APRIL 2021 –
Q1 2021 Highlights
During the first quarter 2021, Zwipe continued to strengthen its foundation for mass-volume roll out of biometric payment cards.
Swedish fintech Vopy, a provider of embedded financial services for telecom and financial institutions globally, selected the Zwipe Pay ONE platform for its biometric payment cards.
Zwipe announced the finalization of four new partnerships with prominent card manufacturers in Asia-Pacific and Europe. The combined annual card shipment from these new customers is more than 1 billion, of which payment cards constitute more than 150 million.
Tag Systems, a leading provider of payment cards (and part of AUSTRIACARD Group), decided to strengthen its collaboration with Zwipe to bring the most advanced new biometric payment cards to issuers in Europe and North America. The group delivers 100 million payment cards each year across Europe, the Middle East and the US. Tag Systems also placed a small initial order for Zwipe Pay ONE.
Developments after the period
KL HI-TECH, the 2nd largest payment card manufacturer in India selected the Zwipe Pay ONE platform to deliver biometric payment cards to its clients in India and key international markets. KL HI-TECH serves some of India's largest banks and delivers approximately 30 million payment cards per year.
French payment solutions provider be ys Pay selected Zwipe to offer biometric payment cards to the French, Belgian, Luxembourg and Dutch markets. be ys Pay is an integral part of the international be ys ecosystem, present on three continents with more than 3 000 employees.
To strengthen its strategic engagements in the Middle East and Africa (MEA) and India, Zwipe has appointed Ramzi Saboury as General Manager for the Middle East and North Africa (MENA) Region and Masterline as Strategic Business Partner in India and other selected markets in the MEA region.
CEO Comment
During the first quarter of 2021, Zwipe has seen significant progress on all fronts – operationally, technologically and organizationally.
We continued to grow our ecosystem of smart card manufacturers and go-to-market partners, while cementing our collaboration with key technology partners in the payments value chain. We have taken major steps towards technology readiness with our Zwipe Pay ONE platform, passing critical milestones and risk points and successfully performing fully functional internal test transactions with Zwipe Pay ONE demo cards. Consequently, we are on track to support our partners launch pilots after the summer. We have also onboarded key expert resources onto our team, strengthening the Zwipe organization even further.
The first quarter was characterized by a continued high level of activity and we finalized many key agreements. Swedish fintech Vopy, chose Zwipe Pay ONE for issuing biometric payment cards to their global telecom and financial institutions client network. The four agreements with prominent card manufacturers in Asia-Pacific and Europe, with a combined yearly shipment of more than 150 million payment cards announced during the quarter, was another recognition of the attractiveness of our offering. Subject to positive pilot results, mass-market rollout will follow. The renewal and strengthening of our commercial partnership with TAG Systems, including TAG Nitecrest in the UK, further reinforced our foundation for market success, especially in Europe and North America.
We ended a solid quarter and kick-started the next announcing agreements with KL HI-TECH, India's second-largest card manufacturer (delivering 30 million payment cards annually), and French payment provider be ys Pay, which will bring biometric payment cards based on our platform to banks in France and the Benelux region. KL HI-TECH is now ramping up its industrialization efforts to deliver Zwipe Pay ONE biometric payment cards to leading issuers in India and selected markets in the Middle East and Africa.
In response to strong interest in Zwipe Pay ONE Cards from card manufacturers, card bureaus, issuers and consumers in the Middle East and North Africa (MENA) region and in India, we have established a local presence by appointing a highly experienced General Manager for the MENA region and entering a collaboration with Masterline, a well-connected player in the field of fintech and payment solutions, as a Strategic Business Partner in India and beyond. We have also further strengthened our organization with several top payment industry talents both in the commercial and the R&D team. I am particularly delighted to welcome our new Chief Sales Officer, John Goodale, to my management team. John, who has a long and proven track record from one of the world’s largest processors, TSYS, and also from professional services at KPMG and DMR Consulting, is leading Zwipe’s engagement and conversion efforts with smart card manufacturers. He is also supporting our engagements with issuers and selected go-to-market partners to further strengthen Zwipe’s position in the global biometric payments market.
The growing interest in biometric payment cards has been noted in several independent analyst reports in recent months (notably from UBS, ABI Research, Goode Intelligence). The common theme in all these reports is their increased volume projections for biometric payment cards over the next 3 to 5 years, suggesting a share of 15-20 % of issued payment cards in 2026.
Since the outbreak of the pandemic a number of countries raised the contactless transaction limits in response to safety concerns from consumers when having to touch the payment terminals (most recently the UK treasury increased the contactless limit from 45 to 100 pounds).
While increasing the contactless limit is a very pragmatic solution in the pandemic times, this solution is unfortunately not very sustainable due to the underlying concerns on the lack of security in contactless payments. These concerns were also obvious from consumers’ comments in discussion forums when the UK treasure decided to more than double the contactless limits. For us, this is further proof that the natural and sustainable step from contact-less payments is contact-free payments, facilitated by biometric payment cards.
As we near completion of the development of Zwipe Pay ONE, which has been a journey we embarked on together with IDEMIA and other key partners almost two years ago, I am very excited to enter into the next phase of increased commercial efforts and subsequent roll-out to consumers.
Zwipe has a historically strong pipeline, a highly competent, passionate and agile organization managing a disruptive technology that is in demand in the market, and a robust ecosystem of partners taking an increasingly proactive role in promoting Zwipe. This is all laying a strong foundation for long-term value creation. The journey has just begun.
Financial Update
Sales revenues in Q1 2021 were MNOK 0.3 (MNOK 0.4).
Average monthly operational cash flow was MNOK -6.3 in Q1 2021 versus MNOK -5.8 in Q1 2020. The increase is in line with higher activity in the company. During the last quarter of 2020 and first quarter of 2021, Zwipe has increased its staff in response to the increased demand for piloting and deployment of our payment solutions and services.
Zwipe was granted a second bank loan of MNOK 2.1 in February 2021 through the second draw of the US Paycheck Protection Program (PPP). The loan is payable in five years. Zwipe may be eligible for partial or full loan forgiveness given fulfilment of a set of requirements.
The closing cash balance at the end of Q1 2021 was MNOK 108.9 (MNOK 54.6). The development in cash balance since Q4 2020 is primarily a result of operational cash flow of MNOK -18.8 and the second PPP bank loan of MNOK 2.1.
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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 Market Oslo, on Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CET on 28 April 2021.
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
Oslo, Norway – 12 April 2021 – On the back of strong interest from card manufacturers, card bureaus and issuers in the MENA Region and in India, biometric technology company Zwipe has established presence in these two key regions by appointing a General Manager for the Middle East and North Africa (MENA) Region and entering a collaboration with a Strategic Business Partner in India.
Ramzi Saboury, Zwipe’s newly appointed General Manager in MENA
Mr. Saboury has a distinguished career spanning over 26 years within Payment Services at leading banks in Kuwait, as regional GM for Levant at Visa Inc. and as CCO at areeba. During these years, he has successfully established many financial services, most notably within contactless payments and mobile technologies. In 2018, Mr. Saboury was awarded by the Asian Bankers Organization “The 50 Most Promising Young Leaders in the Banking and Financial Services industry for APAC and the Middle East Regions”.
“Zwipe's decision to strengthen its position in MENA fits perfectly with the transformations that are taking place in the global payments market. I am delighted to have joined Zwipe's team and I am already busy driving biometric payment cards and Zwipe Pay ONE in a region that is very keen for such advanced solutions,” says Ramzi Saboury.
Masterline, newly appointed Strategic Business Partner in India
Zwipe has also entered a collaboration with Masterline as Strategic Business Partner to accelerate deployment of the Zwipe Pay ONE platform in India and key markets in the Middle East and Africa (MEA). Masterline possesses a proficiency from over 20 years of driving sales and deployment of smart card products, SIM cards and recharge scratch cards. It is a seasoned and well-connected player in the field of fintech and payment solutions in the region and beyond.
"The Masterline team and I are delighted to proactively assist the on-the-ground customer and go-to-market partner on-boarding on behalf of Zwipe in these regions. We are promoting the disruptive Zwipe Pay ONE platform both to smart card manufacturers and banks. There is significant market interest and we see great potential for biometric payment cards in India and elsewhere,” says Naresh Nanda, Founder and Managing Director of Masterline Group.
Commenting on these developments, André Løvestam, CEO of Zwipe, says "Our end-to-end, one-stop-shop offering to enable launch of biometric payment cards is welcomed by players across the payments value chain, both in the MENA region and in India. Ramzi’s expertise in driving payment innovations to successful businesses in the MENA region and Masterline’s formidable track record in scaling smart card products in India and certain MEA markets will be key in accelerating the mass market deployment of Zwipe Pay ONE-powered payment cards”.
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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 further information, please contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
About Masterline
Masterline has effectively, since 1994, delivered telecom and fintech solution whilst expanding its sales footprints in 30+ countries. A veteran in sales and supply of recharge cards and smart cards industry, along with strategic telecom devices & fintech solutions, Masterline has provisioned companies in serving over 27 million mobile users across the world. With 27+ years of experience, Masterline group, works with cutting-edge technologies, exceptional strategic planning, keeping prime thrust on global aspirations while guaranteeing complete client satisfaction. For more information, visit www.masterline.in
Contact: Naresh Nanda, Founder | Managing Director; info@masterline.in
Oslo, Norway and Paris, France - April 7, 2021 - French payment solutions provider be ys Pay (pronounced “be-wise” pay), a fintech dedicated to payment technologies is partnering with Zwipe, a Norwegian fintech dedicated to biometric payment solutions, to offer biometric payment cards to the French, Belgian, Luxembourg and Dutch markets.
Biometric payment cards allow consumers to conduct contactless transactions securely through authentication with their fingerprints. The innovation offered by Zwipe is based on highly secure authentication technology.
The purpose of the partnership is to offer Zwipe Pay ONE-enabled biometric payment cards to be ys Pay customers. The partners will together engage with the issuers from Q2 2021 and have the ambition to deliver pilots from H2 2021.
Mirko Koscina, president of be ys Pay, says: "Biometric payment cards represent the future, particularly in this period of health crisis since the payment transactions will be completely contact free. These cards will provide added security and convenience to consumers. As for the financial institutions, those who make use of this solution will stand to gain significantly in the long term”.
be ys Pay is an integral part of the international be ys ecosystem, present on three continents with more than three thousand employees. Expert in the mass processing, storage and securing of sensitive data, be ys operates trusted digital ecosystems for any economic activity requiring mastery of digital identity, processing of personal and confidential data flows, at the service and in support of natural and legal persons, for the French health sector for twenty years, and more recently for legal professionals, social landlords, banks, and large international companies. be ys has its own data center, "La Citadelle", located in Clermont-Ferrand, at the highest level of security in Europe, and is recognized as a Qualified Trust Services Provider. be ys is also an associate member of the Open Lab of CERN in Geneva.
"We are delighted that be ys Pay is introducing Zwipe Pay ONE biometric payment cards in strategic markets, such as France and the Benelux. Thanks to be ys Pay's network of banking customers, this collaboration will further strengthen our ability to offer a contactless payment experience for cardholders and issuers in Europe,” said André Løvestam, CEO of Zwipe.
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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 further information please contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
About be ys Pay
We are a fintech company dedicated to payment technologies. Our philosophy involves the use of innovation and technology to overcome limitations. In be ys Pay we offer solutions throughout the entire life cycle of payment methods and integrate payment solutions into global and local schemes. We are experts in cryptography and deep knowledge of security. Subsequently, we can apply the technology to solutions that improve the efficiency and relationships between companies and their customers.
Our solutions:
- Card issuance: we have the technological capacity and flexibility to personalize cards that do what you want
- Onboarding of customers in presence and digital
- E-wallet - tokenization
- 3D secure
- Payment terminal for shops
To learn more about our company and solutions please visit our website https://www.be-ys-pay.com/
For further information please contact: Laura Bernal marketing Manager +330645246241
The correction is with reference to the total number of cards delivered per year by KL HI-TECH.
OSLO, NORWAY and HYDERABAD, INDIA – 6 April 2021 – KL HI-TECH, one of India’s largest payment card manufacturers, has selected the Zwipe Pay ONE platform to deliver biometric payment cards to its clients in India and key international markets. Zwipe is a FinTech that has pioneered the development of biometric payment cards and delivered many successful pilots globally.
Founded in 1988, KL HI-TECH currently delivers a total of 50 million cards per year, of which approximately 30 million are payment cards, serving some of the largest banks in India and abroad. As per the recent Nilson Report (2020) KL HI-TECH is the 2nd largest payment card manufacturer in India and the 31st largest in the world.
KL-HI TECH engaged with Zwipe in early 2021 and after extensive evaluation of available alternatives selected Zwipe Pay ONE as the preferred biometric card platform for its next generation payment cards.
"KL HI-TECH has over three decades of experience in helping drive our clients’ growth through differentiation and innovation in payments. We are constantly seeking new technologies & innovations to enhance the payment experience to people in India and across the globe.
With the impact of the pandemic still being felt across India, consumers’ focus on safety and hygiene has increased significantly. In collaboration with Zwipe, we will deliver physical cards that will enable payments to be completely touch-less through a PIN-free checkout experience for consumers with much higher security. Our assessment shows that Zwipe Pay ONE represents the most advanced and high-performing solution and will be the first mass-market viable platform”, said P. Srinivas Rao, Chairman & CEO of KL HI-TECH.
As part of this agreement, Zwipe will provide biometric technology and technical services to enable KL HI-TECH to manufacture Zwipe Pay ONE test cards from Q2 2021. The partners are already jointly engaging with issuers in India with the aim of launching pilots from Q3 2021 and supporting the first full market launches towards the end of this year. "We are extremely pleased that KL HI-TECH has selected Zwipe Pay ONE as their biometric payment card platform. India is one of the world’s most attractive payment markets in size, growth rates and business potential. Complementing each other, Zwipe and KL HI-TECH will leverage each other’s unique technology, product and market assets, including KL HI-TECH’s extensive relationships with the leading banks in India, the Middle East and Africa, to offer innovative biometric payment solutions,” said André Løvestam, CEO of Zwipe.
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 the following sectors:
Banks and Financial Institutions
Central and State Governments
Educational Boards and Institutions
Telecom Sector
Nationwide Election Commissions
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 and KUALA LUMPUR, MALAYSIA – 16 February 2021 – Modularsoft, Malaysia’s leading full service smart card company, has entered into a partnership with fintech Zwipe to enable banks in Malaysia to deploy the next generation of biometric enabled contactless payment cards.
Modularsoft (also known as Modular) has been a leader in the smart card industry in Malaysia since 2007. As a fully certified provider of smart cards to the majority of Malaysian banks, Modular continues to drive innovation and bring new levels of service to the industry. Its customers include banks, fintech companies, educational institutions, insurance, healthcare and telecommunication companies across Malaysia. With the Zwipe Pay platform, Modular will further strengthen its product portfolio with this new innovative biometric card technology that is both user-friendly and highly secure.
Speaking on the collaboration, Haleelur Rahman AG, General Manager Modularsoft, said, “We are excited about the opportunities that biometric payment cards bring to us and our issuer clients. The biometric card platform provided by Zwipe combines a number of break-through technologies and drives us forward into the next generation of payment cards. We believe that highly secure and touch-less payment cards will create a very compelling proposition for banks and consumers. Our collaboration with Zwipe will provide differentiation and visible commercial value to our customers.”.
As part of the collaboration, Zwipe will provide Modular with technical and commercial support to drive the implementation of Zwipe Pay biometric cards, including a range of value added services for issuers. The cards will be manufactured by one of Zwipe’s certified smart card manufacturers in the region. The partners will engage with issuers and enterprises across Malaysia with the objective of deploying pilots and full commercial rollouts.
Commenting on this partnership, André Løvestam, Chief Executive Office at Zwipe, said: “We are very pleased to announce our partnership with Modular, Malaysia’s leading card bureau and a highly trusted brand in delivering payment cards and personalization solutions to issuers in Malaysia. I am confident that this partnership will lead to multiple commercial launches of Biometric Payment Cards and I look forward to a very successful long term relationship between our companies.”
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About Modular
Modular is the leading player in the region within the smartcard industry, specifically in the banking and finance domain. The group gained recognition and credibility by successfully implementing the government initiative of enabling all banks to migrate from magnetic strips to chip based ATM cards; to date the group has delivered in excess of 75 million bankcards. Modular has a dedicated team of IT professionals with domain expertise in Banking and Finance, Insurance, Telecommunications and Healthcare. Modularsoft Sdn Bhd was established to provide both IT and consulting services to its current array of banking customers.
For more information, please contact us at enquiry@modular-corp.com or visit modularsoft.com.my or call +603-2711 1280.
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, +47 934 36 952, info@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!
