OSLO, NORWAY – 24 August 2023 – Zwipe AS ("Zwipe" or "the company") today announces its results for the first half of 2023.
Significant events H1 2023
H1 2023 operational review
In May, Kuwait International Bank (KIB) announced the first commercial launch of biometric payment cards based on Zwipe Pay technology to their VISA Infinite customers in Kuwait. On the back of this launch, KIB is now considering making the biometric card more widely available to cardholders across their customer base. The announcement generated extensive interest in the region from our partners to either initiate or accelerate the launch of biometric payment card programs for other issuers. Later in May, MEPS, in partnership with Mastercard, announced the second commercial launch of BPCs from Zwipe. The MEPS announcement is significant as it will enable a wide range of regional banks to launch BPCs more rapidly.
During the first half, Zwipe also signed eight new partnerships with SCMs and perso bureaus in the APAC region. Early in the third quarter, Zwipe also signed a partnership agreement with a major Japanese SCM, a first for Zwipe in this very important market in terms of both payment transaction volume and value, and a second agreement with a partner in Taiwan. These new agreements and partnerships represent expanded geographic scope for Zwipe, and Zwipe is working closely with our partners to bring biometric payment cards to issuers in these large and dynamic new markets.
Zwipe also released the market’s first available mobile enrolment solution, including a Software Development Kit (“SDK”) with reference apps for iOS and Android available in the respective Apple and Google official app stores. Mobile enrolment solutions are deemed very important by issuers considering launches of BPCs. Zwipe also refreshed our payment scheme certifications and released Zwipe Pay version 1.1, based on the updated standards from Mastercard and Visa.
On the Zwipe Access side, Zwipe initiated several proofs of concept in our target verticals in the USA and Europe. Of particular importance was the announcement that our partner Civix is performing a PoC at Richmond International Airport in conjunction with Safe Skies Alliance. In total, more than ten PoCs are underway and progressing and approximately ten more PoCs are also already in the pipeline for the second half of this year. During the first half, we also signed multiple important go-to-market partners including industry leaders Cardlogix and OLOID and roughly doubled our number of GTM partners. In total, twelve partners have signed or are in the process of signing distribution agreements. The initiation of PoCs and signing of important GTM partners makes us confident we will see commercial deployments of the Zwipe Access solution in H2 2023.
Fundraising and restructuring
In March 2023, Zwipe successfully completed a rights issue raising approximately 100.1 mNOK in capital. While the fundraising should enable Zwipe’s transition toward commercialization, we are cognizant that market adoption of biometric cards through 2023 has been slower than anticipated, impacting not only Zwipe but also Zwipe's partners and competitors. As a consequence, we announced a restructuring of the company in June – bringing down costs substantially to reflect the current realities, but not affecting our ability to serve our customers and partners. These initiatives are expected to reduce the group’s operating costs in 2023 by approximately NOK 14 million compared to 2022 and lower the cost base by approximately NOK 35 million on an annual basis. Once executed, the improvements are expected to have full impact from the fourth quarter of 2023.
The main message from the restructuring announcement is that the development of both the Zwipe Pay and Zwipe Access products has largely been completed. In the context of R&D having been largely completed, the focus of the fundraising and the restructuring has been to accelerate Zwipe’s path towards commercialization.
H2 2022 financial review
Zwipe reported total revenues of 1.7 mNOK during H1 2023, up 113% from 0.8 mNOK in H1 2022, while total operating expenses increased by 9.0 mNOK to 57.5 mNOK in H1 2023 from 48.4 mNOK in H1 2022. The above resulted in net income for H1 2023 of -55.9 mNOK, 8.5 mNOK lower than -47.4 mNOK in H1 2022.
Total net cash flow for H1 2023, including cash flow from financing and investing activities, was 25.5 mNOK compared to -42.6 mNOK in H1 2022, as Zwipe successfully completed a rights issue raising 100.1 mNOK in gross proceeds in H1 2023. Cash flow from operations and investments, before financing and facilitation, decreased by -10.8 mNOK to -59.3 mNOK from -48.6 mNOK in H1 2022. The underlying average monthly operating cash flow in the H1 2023 was -9.9 mNOK compared to -8.1 mNOK in the same period last year. The monthly net burn rate is expected to decrease by roughly 30% in the second half of 2023 compared to the first half as a result of the June restructuring announcement.
On 30 June 2023, cash and cash equivalents were 76.0 mNOK, compared to 50.5 mNOK at end 2022 and 109.7 mNOK on 30 June 2022. The development in cash balance since year-end 2022 is mainly a result of the negative operational cash flow of 59.3 mNOK plus proceeds from the rights issue in H1 2023. Total assets stood at 98.4 mNOK and total equity as of 30 June 2023 was 85.4 mNOK, giving an equity ratio of 87%.
Going forward
Zwipe continues to make progress with its first Zwipe Pay commercial launches and multiple Zwipe Access PoCs being executed. But in the context of delayed volume ramp-up in biometric payment cards, the biometric access control market still being established, and a leaner organization, our focus will be on thoughtfully deploying funds to keep Zwipe on the path to real commercialization of our solutions.
Results presentation
CEO Robert Puskaric and CFO Danielle Glenn will present the H1 2024 results by webcast today, Thursday August 24th, at 10:00 CEST.
Webcast details
Date: 24 August 2023
Time: 10:00 CET
Format: Webcast and Q&A
Language: English
Link: https://app.webinar.net/gpBdkyWMaZP
Participants will be required to register to view the webcast and participate in the Q&A, and are strongly encouraged to submit their questions prior to the webcast on the registration page below or by sending questions to ir@zwipe.com.
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This information is subject to the disclosure requirements in the Market Abuse Regulation (EU 596/2014) and the Norwegian Securities Trading Act section 5-12, and is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 on 24 August 2023.
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
For more information, please contact:
Danielle Glenn, CFO and Head of IR
ir@zwipe.com
OSLO, NORWAY – 18 August 2023 – Zwipe AS will publish its H1 2023 financial report on 24 August 2023 at 08:00 CET. On the same day at 10:00 CET, the Company will host a webcast to present the update. After the presentation, the webcast will be opened up for questions from the audience.
Participants are strongly encouraged to submit their questions prior to the webcast on the registration page below or by sending questions to ir@zwipe.com. Participants will be required to register to listen to the webcast and participate in the Q&A.
Webcast details
Date: 24 August 2023
Time: 10:00 CET
Format: Webcast and Q&A
Language: English
Link: https://app.webinar.net/gpBdkyWMaZP
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
For more information, please contact:
Danielle Glenn, CFO and Head of IR
ir@zwipe.com
OSLO, NORWAY and SUNNYVALE, CA – 18 JULY 2023 – OLOID Inc., a leading provider of physical identity and access technology, has selected biometric cards pioneer Zwipe as its technology partner in pursuing opportunities for biometric access cards across the many markets they serve.
OLOID is a multi-technology identity and access management endeavor with well-known investors like Dell, Honeywell, Okta and others investing in their future. OLOID intends to add Zwipe Access to its expanding global product portfolio.
With market-disrupting technology like the Zwipe Access “biometricsystem-on-card” platform, OLOID will be able to deliver a highly advanced and secure biometric card solution in conjunction with their own physical access, time clock and other IAM offerings.
According to Mohit Garg, Co-Founder and CEO of OLOID, “While the security industry has made significant advances in providing password-less technologies for cognitive workers, the login experience for frontline workers continues to be far from frictionless. Biometric access cards provide a massive opportunity to address the needs of this under served segment of users who do not work on company provided computers and smartphones but require freedom from user names and passwords related challenges to access workplace applications on kiosks and shared terminals.”
Speaking about the partnership, RobertPuskaric, President and CEO of Zwipe, says, “We are happy to partner with OLOID, a software-centric company that offers unique identity and access management solutions. We believe that our Zwipe Access biometric card is a fantastic fit for their global portfolio and a solid match for their retrofit readers.”
About OLOID
OLOID is a leading provider of physical identity and access technology committed to enabling secure and privacy-forward authentication for the modern workplace. OLOID's objective is to establish a unified identity framework that connects and manages workplace identity and access by integrating with HR, IT and various systems of records, thus enabling a unified digital identity across the organization. Headquarteredin Sunnyvale, CA, OLOID is backed by renowned investors including Dell Technology Capital, Honeywell Ventures, Okta Ventures, Unusual Ventures, Emergent Ventures, and WestWave Capital.
To kow more, visit https://www.oloid.ai/
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card technology for payment, physical and logical access control as well as identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway with a global presence.
To learn more, visit www.zwipe.com
OSLO, NORWAY – 10 July 2023 - Reference is made to the stock exchange announcement published by Zwipe AS (the "Company" or "Zwipe") on 28 June 2023 and the notice dated 28 June 2023 of an extraordinary general meeting in the Company to be held on 10 July 2023 (the "EGM").
All the items on the agenda were addressed and approved. Attached are the minutes of the EGM. The attendants of the EGM represented 25.07% of the votes in the company.
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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 15:00 on 10 July 2023.
For more information, please contact
Danielle Glenn
CFO and Head of IR, Zwipe AS
E-mail: ir@zwipe.com
TAIPEI, TAIWAN and OSLO, NORWAY – 04 July 2023 - Beautiful Card Corporation (BCC), a prominent Taiwanese card manufacturer with global deliveries, has been granted approval from Mastercard to deploy biometric payment cards using Zwipe Pay.
Speaking on this development, Shellen Hsu, Global VP – Sales & Business Development, BCC, says, “We are extremely delighted to obtain approval that enables the deployment of our biometric cards globally. With the growing awareness of biometric payments in the APAC region and beyond, this is crucial as we are witnessing a strong interest in our core markets to launch biometric payment cards based on the Zwipe Pay platform.”
Issuers and consumers will have access to biometric payment cards built on Zwipe Pay technology operating seamlessly across Mastercard's global network, addressing consumers’ demand for increased security and convenience through biometric authentication. Consumers will also benefit from more convenient, safe and secure ways to pay.
According to Patrice Meilland, Chief Strategy, Product and Marketing Officer, Zwipe, “This marks a significant step for BCC in the biometric payment market as issuers will have the opportunity to create differentiation, accelerate customer acquisition, uplift loyalty, and create new revenue streams. With this progress, we look forward to further strengthen our long-standing partnership with BCC and we will continue to develop together our business and technical relationship in the upcoming years.”
About BCC
With 31 years of experience in the smart card industry, BCC is a leading smart card manufacturer globally. Headquartered in Taipei, Taiwan, BCC is a Taiwanese-owned, GSMA SAS-certified, VISA, Mastercard and JCB-certified company with a global strength and local support. It is a neco-sustainable material provider that has compliance with RoHS, REACH, HF, CP65, ETSI, etc.
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& 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, please visit www.zwipe.com
OSLO, NORWAY – 28 June 2023 - The Board of Directors of Zwipe AS (the "Company") call for an Extraordinary General Meeting (the "EGM") to be held on 10 July 2023 at 10:00 CEST. The EGM will be held as a digital meeting on Microsoft Teams.
Please find attached the notice of the EGM. The notice and Zwipe's Annual Report for 2022 are available on the Company's website, https://www.zwipe.com/investors.
Shareholders who wish to attend the EGM in person or by proxy or vote in advance are encouraged to register this electronically by following the link on the Company’s website https://www.zwipe.com/investors/general-meetings or via VPS Investor Services, by sending a signed version of the form attached to the notice by e-mail to genf@dnb.no, or by ordinary mail to: DNB Bank ASA, Registrars Department, Postboks 1600 Sentrum, NO-0021 Oslo. Notification of attendance, proxy or advance votes must be registered online or received by DNB Bank ASA, Registrars Department by 16:00 hours CEST on 7 July 2023.
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 prior to 16:00 hours CEST on 7 July 2023.
The Board of Directors (the "Board") has proposed the following agenda:
Proposed decisions from the Board:
Matter no. 4: Election of a new member to the Board
The Company's nomination committee (the "Nomination Committee") has proposed that the Board is supplemented by Robert Jansson. Subject to the EGM's approval, the Board for the period from the EGM and until the Company's annual general meeting in 2025 will comprise:
A mini-CV for Robert Jansson has been included as an attachment to the notice.
Matter no 5: Remuneration to the new member of the Board
The Nomination Committee proposes that Robert Jansson receives a remuneration of NOK 130,000 for the period until the Company's annual general meeting in 2024.
Matter no. 6: Approval that the Board may make amendments to the Company's RSU incentive program
On 11 May 2023, the Company's annual general meeting (the "AGM") adopted a resolution on a new incentive scheme directed towards the Company's leading employees and other key personnel in the form of so-called restricted share units (hereinafter the "RSU plan" and "RSUs"). The main rationale behind the RSU plan is to create long-term ownership, being expected to stimulate an increased interest in the business and performance development.
In the notice to the AGM, it was stated that the vesting period for the RSUs will be four years from grant. Following the AGM, the Board has however further assessed the various aspects of the RSU plan as previously presented, hereunder the terms of vesting. In this regard, the Board on 28 June 2023, assessed it as beneficial to amend the conditions of the vesting schedule under the RSU plan. The Board has therefore resolved that the current arrangement with 100% vesting at the expiry of the four-year period is replaced with an annual vesting schedule, with 1/3 vesting at the end of the 2nd, 3rd and 4th year from grant, meaning no vesting after the 1st year. It is assumed that the EGM should approve such change.
The Board has not at this point in time found reason to make any other amendments to the RSU plan or its scope but has proposed that the EGM grants a general authorization to the Board to make changes to the RSU plan, however not including changes of terms with a direct impact on the maximum dilution potentially caused by the RSU plan such as the maximum number of RSUs under the plan and that one vested RSU gives the right to acquire one share in the Company.
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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 CEST on 28 June 2023.
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For more information, please contact:
Danielle Glenn, CFO and Head of IR: ir@zwipe.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 https://www.zwipe.com/.
OSLO, NORWAY – 21 June 2023 – Zwipe AS today announces a streamlining to accelerate its path toward profitability in the medium term. Excluding one-off fundraising costs incurred in 2023, these initiatives are expected to reduce the group’s operating costs in 2023 by approximately NOK 14 million compared to 2022 and lower the cost base by approximately NOK 35 million on an annual basis. The initiatives will commence immediately, and planned improvements are expected to have full impact from the fourth quarter of 2023. 15 employees will leave the company as a consequence.
Following decisions taken at the end of the first quarter to freeze new hiring and reduce planned expenditures in 2023, the company has now completed an internal review aiming to optimize global operations and reduce overall costs. In this effort to ensure long-term, sustainable growth, Zwipe has identified cost-saving initiatives including reductions of staff, lessening of R&D-related activities, restructuring of offices and subsidiaries, reduced external marketing activities, and general reductions in other operating expenditures.
As previously communicated, the development of both the Zwipe Pay and Zwipe Access products has largely been completed. Zwipe Pay has been fully certified by both Visa and Mastercard, mobile enrollment solutions have been finalized, and Zwipe Pay is fully ready for commercial deployment. Similarly, Zwipe Access has now been validated for integration into the HID and Legic access control systems and the product is ready for commercial deployment. As the company’s focus naturally shifts from R&D to commercialization, less development and technical support resources are needed.
On the commercial side for Zwipe Pay, while broader market adoption of biometric payment cards has been slower than we and others in the industry anticipated, Zwipe continues to believe that the market is very close to an inflection point. Zwipe has achieved several significant milestones recently with the first bank issuers announcing commercial launches, and we anticipate this will accelerate in the second half of 2023. Zwipe Access has very strong momentum with several proofs of concept recently having been launched and substantially more in the pipeline. As a consequence of this streamlining, resources within the company will thus be allocated more towards commercialization efforts: executing more Zwipe Pay pilots and initial launches, getting more signed SCMs mass production ready, signing more distribution partners for Zwipe Access, and executing integrations of Zwipe Access with end customers.
Owing to the already completed development efforts carried out for Zwipe Pay and Zwipe Access, this streamlining plan is not expected to affect Zwipe’s ability to serve its customers and partners. The company remains committed to a best-in-class customer experience and providing value-added services and expertise across the payment card and access control value chains.
"This streamlining plan allows us to focus on our commercial objectives for both Zwipe Pay and Zwipe Access while also reducing our overhead costs, ensuring that we are organized in an efficient and agile manner, giving us more financial flexibility, and positioning the company for profitable growth. While it is very difficult to let some of our valued and highly regarded employees go, we believe this decision is necessary as we position ourselves for sustainable growth in the medium and long term" says Robert Puskaric, CEO of Zwipe AS.
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This information is subject to the disclosure requirements in the Market Abuse Regulation (EU 596/2014) and the Norwegian Securities Trading Act section 5-12, and is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 on 21 June 2023.
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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 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
OSLO, NORWAY AND AMMAN, JORDAN – 20 June 2023 – Middle East Payment Services (MEPS) announces the commercial launch of biometric payment cards based on the Zwipe Pay solution, using Mastercard’s Biometric Card technology.
MEPS is a leading regional player in card issuance, payment processing and merchant acquiring services in the Middle East and North Africa (MENA) and a principal member of major international issuing and acquiring schemes.
As a result of a deep collaboration, Zwipe and MEPS have tested and successfully piloted the new cards based on the Zwipe Pay platform for biometric payment cards, and approved by Mastercard. These pilots, conducted over the last months, led to this major milestone, making it possible for several banks and issuers to launch the cards swiftly.
According to Ali Jabbar, CEO at MEPS, “MEPS is ready to provide banks and issuers in Jordan and the region with the first worldwide Mastercard Zwipe biometric card, a testament to the innovation we continuously strive to bring to our region.”
Speaking on this partnership, Cynthia El Khoury, Country Business Development Lead, Levant and Iraq at Mastercard, said, “Mastercard has long pioneered biometrics as a secure way to verify identity. We are delighted to leverage our advanced Biometric Card technology to help MEPS and Zwipe maintain the highest levels of security and privacy with the aim of protecting consumers in the region and enhancing their peace of mind.”
Ramzi Saboury, General Manager for the Middle East and Africa Region at Zwipe, said: “This milestone achieved by MEPS is a breakthrough in the biometric cards arena, paving the way for many banks to launch Zwipe Pay-based cards. We are proud and honored that the latest generation of biometric cards based on Zwipe’s solution is commercially launching in Jordan in collaboration with Mastercard, taking the lead globally with this initiative.”
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About MEPS
Middle East Payment Services (MEPS), founded in 2009, is a Principal Issuer and Acquirer of Visa, MasterCard, and UnionPay, with presence in Jordan, Iraq, and Palestine. The company offers financial institutions, merchants, and corporations, a complete range of secure payment solutions in card issuance / hosting, payment processing, alternative payments, ecommerce acquiring, point-of-sale (POS) acquiring, ATM driving and management, and customized value-added services adhering to PCI Data Security Standards (PCI DSS). MEPS is owned by 10 Jordanian and regional banks.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
To know more, click here: www.mastercard.com
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com
OSLO, NORWAY and KUWAIT CITY, KUWAIT – 23 May 2023 – Kuwait International Bank (KIB) takes the lead worldwide as the first commercial launch of biometric payment cards based on Zwipe’s platform. This innovative card will be offered to the elite VIP clients of the bank under the Visa Infinite Black product.
KIB is a public quoted bank operating since 1973 with around 20 branches across the country. The bank is amongst the fastest growing in Kuwait and always striving to make available for its clients the innovative financial solutions that best serve their needs.
As part of this collaboration, Zwipe will deliver its Zwipe Pay solution for biometric payment cards, approved by VISA. This is the result of many years of developments and pilots conducted across several geographies in the past years. The cards will be produced by Inkript, one of the partners of Zwipe in the region.
According to Deema Al Mulaifi, Assistant General Manager of Operations at KIB, “KIB prides itself as a progressive Islamic bank that continues to offer its customers a unique banking experience enhanced by additional convenience and security. We are pleased to announce that our Black Banking segment customers can now enjoy innovative technology through the new biometric card, which is designed to provide convenience and ease of access with a high level of security against fraud attempts. The ability to continue delivering on-demand, tailored and innovative products and services to our customers is a unique mark that distinguishes KIB from others.”
“The Biometric Card feature has the potential to provide our customers with a new method that adds value to their lifestyle as they can request the Visa Infinite card and activate the fingerprint to make POS transactions with great ease. In addition to this secure and simple payment solution, which is in line with the Bank’s new authentication system, the Bank’s Black Banking segment customers enjoy a range of other premium banking benefits and exclusive rewards,” added Al Mulaifi.
Speaking on this partnership, Shashank Singh, Vice President and General Manager for Kuwait and Qatar at VISA said, “Visa is committed to developing and investing in emerging capabilities such as biometrics for the benefit of consumers. That’s why we’re delighted to partner with Kuwait International Bank and Zwipe in bringing this innovative biometric card to consumers in Kuwait who can now enjoy a seamless, secure payment experience.”
Ramzi Saboury, General Manager for the MEA Region at Zwipe said, “We are proud and hounored that the latest generation of biometric cards based on Zwipe’s solution is commercially launched in Kuwait by KIB, taking the lead globally with this initiative. We appreciate the trust in Zwipe Pay that KIB has demonstrated by reaching this milestone. Visa also has been a key player and partner all the way, until the launch today. Zwipe Pay is providing best user experience from enrolment to payment, ensuring high level of security while protecting biometric data privacy.”
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About KIB
Incorporated in 1973 and originally known as Kuwait Real Estate Bank, KIB made the transition to its current Islamic operating model in 2007. In 2018, KIB embarked on a new phase of its journey full of innovation and development. As part of its new strategic direction, the bank focuses on offering a next-level customer experience under the slogan: “Bank for Life”. Through a network of branches spread across the State of Kuwait, KIB offers a broad range of banking products and services, as well as innovative digital banking solutions in line with international best standards.
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement.
To learn more, visit visamiddleeast.com/blog and follow @VisaCEMEA
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway with a global presence.
To learn more, visit www.zwipe.com
OSLO, NORWAY AND MICHIGAN, USA, 5 August 2024 – We are excited to announce a strategic partnership between Zwipe, the global leader in biometric payment and access cards, and AXYS, a specialist in integrating access control, video surveillance, intrusion detection, and other security technology solutions. This collaboration aims to deliver the groundbreaking "biometric smartcard" technology solution to AXYS's global customer base.
AXYS's clientele spans diverse sectors, including data centers, healthcare, pharmaceuticals, aerospace, critical infrastructure, enterprise, and manufacturing. This partnership will enable these clients to incorporate advanced biometric verification into their existing security infrastructure swiftly, securely, and cost-effectively.
Key Features of Zwipe Access
Benefits for AXYS's Customers
"We are delighted to partner with Zwipe, a market leader in biometric technology," said Carlos Hernández, Director of Security Solutions at AXYS. "Our collaboration with Zwipe Access allows our customers to effortlessly integrate biometric authentication into their current infrastructure, enhancing security without the hassle of major system overhauls."
Robert Puskaric, President and CEO of Zwipe said, "The future of secure and convenient access control is available today through Zwipe Access. Our innovative solution offers identity verification, significantly reducing the risks associated with lost or stolen access cards. We are excited to collaborate with AXYS and enable them to deliver genuine multifactor biometric authentication to their valued customers."
This partnership addresses the increasing demand for robust and compliant security solutions across diverse industries. Leveraging Zwipe's advanced biometric technology and AXYS's market reach, customers can now enjoy enhanced security without extensive system overhauls.
Stay tuned for further updates as Zwipe and AXYS continue to innovate and deliver top-tier security solutions to clients worldwide.
About AXYS
AXYS specializes in various OT services, including controls/automation engineering, physical security solutions, OT network/server management, and firewall protection. With a commitment to excellence and long-lasting partnerships, AXYS aims to empower clients across multiple sectors, including data centers, building automation, manufacturing, pharmaceuticals, aerospace, and robotics. "Our key business goal is to provide the best service and produce the best product to our clients," notes Shane M. Ranck, FMP, CTO at AXYS . "We grow with our clients and have that commitment to partner with them to achieve their vision."
To know more, visit www.AXYS.global
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries, and cultures to make convenience safe and secure. We are pioneering next-generation biometric card technology for payment, physical and logical access control, and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com
OSLO, NORWAY and TORONTO, CANADA – 1 August 2024 – Zwipe the market leader in Biometric Smart Card technology for biometric access card technology, has entered into a strategic partnership with ABC Security Access Systems, a prominent integrator specializing in physical security solutions. This collaboration aims to introduce Zwipe's state-of-the-art biometric smart card technology solutions to customers across the Canadian marketplace, focusing on key sectors such as retail, government, commercial and institutional.
Zwipe Access represents a groundbreaking advancement in biometric security by securely storing encrypted fingerprint templates directly within the smart chip of the card during issuance. This capability is tailored to meet the needs of ABC Security Access Systems' clients who seek rapid, secure, and cost-effective integration of biometric verification into their existing access systems.
The functionality of Zwipe Access simplifies authentication processes significantly: users authenticate themselves simply by placing their personalized card near a reader. The card utilizes the reader's RF field to draw power and verify the biometric data stored within its chip. This approach ensures a robust and secure verification process without the need to transmit biometric data to external systems, thereby helping organizations meet stringent data privacy and compliance standards.
Zwipe Access cards also support fast multi-factor authentication, providing convenience without requiring organizations to replace their current access control readers. This feature makes them particularly appealing for entities looking to seamlessly enhance their security protocols.
Overall, the partnership between Zwipe and ABC Security Access Systems aims to expand access to advanced biometric security solutions across diverse sectors in Canada. This collaboration marks a significant advancement in deploying innovative access control technologies, promising enhanced security and operational efficiency for organizations throughout the country.
Puneet Grover, Integrated Systems Manager ABC Security Access Systems said, "Our mission is to provide security technology solutions that definitively verify the identities of individuals entering and moving within our customers' facilities. Zwipe Access stands out as a remarkable addition to our lineup of security technologies for physical access control, offering integrated multifactor authentication through biometrics at a fraction of the cost of alternative methods. We are enthusiastic about introducing this exceptional card solution, which not only strengthens security measures but also addresses contemporary hygiene considerations. With Zwipe Access, interaction is limited to the card owner, unlike shared biometric readers, ensuring a cleaner and safer user experience. We are committed to enhancing security and convenience for our clients with this innovative solution."
Robert Puskaric, President and CEO of Zwipe said, "The future of secure and convenient access control is here with Zwipe Access! Our innovative solution provides swift and hygienic biometric identity verification, effectively addressing concerns related to lost or stolen access cards. This partnership with ABC Security Access Systems represents an exciting opportunity to introduce genuine multifactor biometric authentication to their esteemed customers. Together, we are set to revolutionize access control across diverse industries, guaranteeing robust security and seamless integration. We are enthusiastic about the possibilities ahead and committed to delivering advanced biometric solutions that cater to the evolving needs of modern security environments."
About ABC Security Access Systems
For over 85 years, ABC Security Access Systems’ mission has been to bring peace of mind to our customers by providing total security solutions and outstanding customer service. We strive to maintain and grow our position as a leading security systems integrator, specializing in commercial, industrial, institutional, and government markets in the GTA.
For more information, visit www.abcsecurity.ca
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries, and cultures to make convenience safe and secure. We are pioneering next-generation biometric card technology for payment, physical and logical access control, and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com.
OSLO, NORWAY and MADRID, SPAIN – 24 July 2024 – ZKTeco, a globally recognized leader in access control solutions, is proud to announce a partnership with Zwipe, a leader in biometric technology for cards used in identification, access control, and payment. Together, they aim to deliver cutting-edge, high-security access solutions in Europe.
This collaboration leverages the strengths of both companies to offer advanced, reliable and user-friendly security systems designed to meet the growing demand for high-level security across various sectors.
This partnership integrates the Zwipe Access Biometric Smart Card with the ARMATURA access control system. It is the ideal solution for companies requiring a high security level. This partnership will enable businesses to benefit from a centralized and unified security management solution. “We are pleased to partner with Zwipe, a leading company in this market sector,” says Samuel Muñoz, Integrations Manager at ZKTeco Europe.
ARMATURA, a high security and cybersecurity brand, showcases its expertise in access control security products and solutions in collaboration with ZKTeco.
Robert Puskaric, President and CEO of Zwipe, commented, “We are thrilled to partner with ZKTeco. We look forward to developing and strengthening biometric-enabled access control solutions with ZKTeco. Combined, our technologies will provide enhanced security access control for organizations worldwide.”
About ZKTeco Europe
ZKTeco is a multinational enterprise, specializing in the manufacture and development of advanced CCTV, Time & Attendance, and Access Control technology. With over 30 years of experience in the global market, ZKTeco benefits from a highly qualified team of over 4.100 employees worldwide with its own manufacturing plants that, together with its R&D and engineering departments, ensure complete inhouse production of all aspects of its hardware, firmware, and software. One of the pioneers in multibiometric and RFID technology, ZKTeco’s products are present around the world, with over 180 million users worldwide.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work passionately across networks of international organizations, industries, and cultures to make convenience safe and secure. We pioneer next-generation biometric card technology for payment, physical and logical access control, 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, please visit http://www.zwipe.com/.
OSLO, NORWAY and BROMMA, SWEDEN, June 18th , 2024 – Focusing on identity and access management, Seriline, a Sweden-based company, has signed a distribution agreement with Zwipe that pioneers next generation biometric cards for payment, physical & logical access control and identification solutions.
Seriline works towards creating confidentiality and integrity management of identities. Speaking on this partnership, Freddie Parrman, CEO of Seriline said, “Developing solutions for tomorrow is essential for us. We are happy to collaborate with Zwipe as biometric access control systems are shaping the future of business security across the globe. With its faultless data gathering, identification, and verification capabilities, biometric access control systems are crucial for providing security to countless industries and sectors worldwide.”
As per this partnership, Seriline has agreed to distribute Zwipe’s biometric access cards in the Nordic Region. When it comes to security, it is important that access control solutions identify the security gaps and address them. Here comes Zwipe Access cards that seamlessly integrate into a standard ID card cutting-edge secured authentication using biometrics.
According to Robert Puskaric, President and CEO of Zwipe, “Ensuring safety and security for ID and access solutions is vital today. We are convinced that our partnership with Seriline will help us offer Zwipe Access cards to the Nordic Region, therefore providing increased security, with convenience and no rework of access control infrastrutures to operations seeking to upgrade their protection. .”
About Seriline
Seriline was founded in 1990 and is a Swedish-owned company with a focus on identity and access management. By combining the latest technology with many years of experience, Seriline offers proprietary software, online solutions, hardware and services that simplify the flow to creating user-friendly processes for confidentiality and integrity management for identities. An identity could for instance be, a person, a chip, a card, or a digital key - all of which require the same secure care, precision and security in their handling.
To learn more, https://www.seriline.com/en
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work passionately across networks of international organizations, industries, and cultures to make convenience safe and secure. We pioneer next-generation biometric card technology for payment, physical and logical access control, as well as identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, please visit http://www.zwipe.com/
OSLO, NORWAY and DRESDEN, GERMANY, May 28th 2024 – Plasticard - ZFT, one of the leading manufacturers for plastic cards, smart cards and ID media has partnered with Zwipe to distribute biometric access cards for Zwipe in Germany, Austria and Switzerland.
Speaking about the partnership, Christian Reuther, Managing Director of Plasticard - ZFT said, "Recognizing the increasing demand for safety and security, we are pleased to announce our partnership with Zwipe and its innovative biometric card technology. Under this collaboration, Plasticard - ZFT will be distributing biometric-enabled access cards in Germany, Austria, and Switzerland. This partnership marks a significant enhancement to our portfolio, as Zwipe Access offers two-factor authentication using biometrics sensor and matching on card.
Zwipe Access is a card-based fingerprint access control solution. Therefore, the cardholder’s biometric data never leaves the card, providing increased data privacy to the cardholder. It suppresses the need for creating and managing biometrics databases.
According to Robert Puskaric, CEO of Zwipe, “We are delighted to welcome Plasticard - ZFT as our distribution partner. This partnership not only reinforces our presence in the European market but also underlines the growing demand for biometric access control cards. Zwipe's proficiency in biometric access card technology will empower Plasticard - ZFT to provide customers with innovative, secure and convenient access solutions."
About Plasticard - ZFT
Plasticard-ZFT delivers innovative solutions, products and services "a la card": smart cards, RFID-cards and ID-media have been our passion for more than 30 years. As a developer, manufacturer and service provider, highest quality, fast turn-around and complete customer satisfaction are our top priorities. Many years of experience and know-how helped us to become a flexible corporation that likes tackling the daily challenges of card production, personalization and fulfillment, as well as highly complex special projects to lead our customers forward.
To learn more, click here: http://www.plasticard.de
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit: www.zwipe.com
OSLO, NORWAY and BOLOGNA, ITALY, May 20, 2024 – Ermes srl, one of the leaders in providing solutions for the identification and security of people, has signed a distribution agreement with Zwipe, a pioneer and world leader in the development of biometric technology on cards for identification, access control and payment.
According to this partnership, Ermes srl has agreed to distribute Zwipe’s biometric access cards in Italy. Zwipe Access utilizes state-of-the-art biometric capture and matching technology to securely store the cardholder’s encrypted fingerprint template directly within the card’s smart chip during issuance. Thus, Zwipe Access offers an additional layer of security.
Zwipe has secured an initial Demo Kits order from Ermes for Zwipe Access biometric cards. This initial order will be used to demonstrate the solution to potential end users.
Speaking on the partnership, Marco Tomadin, Chairman, Ermes srl, said, “We strongly believe in this innovative solution based on biometric technology that allows to validate cardholder identity without having to change the existing infrastructure. It is the ideal solution for all large companies that need a high level of access security. We are pleased to partner with Zwipe, a leading company in this market sector.”
“We are happy to partner with Ermes srl, a leading security solution distributor. We look forward to developing and strengthening the relationship with the Italian security market thanks to our local expertise and support, as well as supporting Ermes srl to deliver best- in-class access control solutions to integration partners.”, says Robert Puskaric, President and CEO of Zwipe.
About Ermes srl
Established in 2005, Ermes srl started its business with the distribution of thermographic card printers to become over time a company specialized in solutions for the identification and security of people and data and solutions to simplify the management of complex processes. Despite an articulated company structure, Ermes recognizes the importance of flexibility that allows its structure to satisfy the needs of each customer, both as regards budget and for the "pushed" personalization of products and / or solutions and related services, typical of large companies or government agencies.
To learn more, please visit https://ermes-online.it/
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work passionately across networks of international organizations, industries, and cultures to make convenience safe and secure. We pioneer next-generation biometric card technology for payment, physical and logical access control, as well as identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, please visit http://www.zwipe.com/
OSLO, NORWAY AND BARCELONA, SPAIN – 08-May-2024– Zwipe A.S., a leading innovator of biometric payment and identification technology, today announced the appointment of PCB & Security Europe S.L., headquartered in Barcelona, Spain, as its official distributor for Spain and Portugal. This strategic partnership expands Zwipe's reach across Europe and positions the company to capitalize on the growing demand for secure and convenient biometric access solutions in the Iberian Peninsula.
PCB &Security Europe boasts a strong track record of supplying high-quality electronic components and solutions to a diverse customer base across Spain and Portugal. Their established network and expertise in access control systems make them a perfect partner for Zwipe to introduce its innovative biometric technology to a wider audience.
To fuel early adoption and facilitate seamless integration with existing infrastructure, Zwipe has secured an initial order from PCB & SecurityEurope forLEGIC advant® Biometric Cards. This initial order will be used for pilot programs with key LEGIC users in Spain, allowing them to experience the enhanced security and user convenience offered by biometric access control first hand.
“We are thrilled to welcome PCB & Security Europe as our distributor for Spain and Portugal,” says Robert Puskaric, CEO of Zwipe. “Their extensive experience and strong relationships within the security industry make them an ideal partner to drive the adoption of our biometric solutions in this important market. The initial order of LEGIC advant® Biometric Cards underscores the significant potential metric access control in Spain, and we look forward to collaborating with PCB & Security Europe to deliver these advanced solutions to a wider audience.”
“We are excited to partner with Zwipe and bring their cutting-edge biometric technology to Spain and Portugal,” says Joan-PaulUdina, CEO of PCB & Security Europe. “Biometric access control offers a secure and convenient solution for businesses of all sizes and we believe Zwipe's technology is ideally positioned to meet the growing demand in this region. The initial order for LEGIC advant® Biometric Cards allows us to showcase the benefits of this technology to our existing LEGIC user base and pave the way for broader adoption.”
About Zwipe
Zwipeis a pioneer in biometric payment and identification technology. The company's innovative solutions are designed to replace traditional PINs and passwords with a secure, user-friendly fingerprint scan. Zwipe is committed to making biometric authentication the new standard for secure and convenient transactions.
About PCB & Security Europe
PCB& Security Europe understands the ever-changing landscape of the electronics industry. In today's challenging environment, we help companies navigate rising costs, limited vendor options, and fierce competition.
PCB& Security Europe is part of the group of DirectPCB that is a leading supplier of electronic components and solutions in the Worldwide Electronics Sector. The company offers a wide range of products and services, from printed circuit board (PCB) manufacturing to technical support. DirectPCB is committed to providing its customers with the highest quality products and services at competitive prices. We maintain offices strategically located in Largo, Florida (USA), Shenzhen, China and Barcelona, Spain (Europe) to offer global support.
The notice of the ordinary general meeting is attached to this release. The notice will be sent to all registered shareholders on 23 April 2024. The notice and all other documents related to the items to be considered at the ordinary general meeting will, on the same date, be available on Zwipe's website https://www.zwipe.com/investors. To vote in advance, register your attendance or grant a proxy to vote for your shares, please follow the instructions set out in attached notice.
We encourage shareholders to vote in advance or give proxy.
For further information, please contact:
Hugo Petit
Interim CFO and Head of IR
About Zwipe
Zwipe is a technology solution provider that enables battery-less, ultra-low -power, self-contained biometric authentication solutions. Together with an ecosystem of partners including global brands within security, financial services and ID applications, Zwipe is "Making Convenience SecureT". Using advanced fingerprint recognition while protecting personal information, Zwipe's solutions address the data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, Zwipe has spent the last 10 years developing its unique power harvesting technology platform in combination with security solutions based on international infrastructure standards. To learn more, visit www.zwipe.com
OSLO, NORWAY – 27 MARCH 2024 - The board of directors of Zwipe AS (the "Company") has, on 25 March 2024, resolved to grant 489,196 Restricted Share Units (each a "RSU") to certain members of the Company's management, making up the formal grant of the RSUs referred to in the Company's annual report for 2023 (the "Annual Report") announced yesterday, on 26 March 2024.
The RSUs vest in three equal installments on each anniversary date from the grant date. Each RSU comprises a conditional right to receive one share after the vesting period. The shares comprised by the RSU program will be issued at nominal value. The right to receive shares is conditional upon the "Performance Condition" stated in the RSU program, the participants retained employment, and subject to the terms and conditions set out in the Annual Report.
The following primary insiders of the Company have been granted and accepted RSUs:
Please see the attached notification forms for additional information.
This information is subject to the disclosure requirements in article 19 of the Regulation (EU) 596/2014 (the Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.
