News | Zwipe

21:30

BANKRUPTCY AND DELISTING ZWIPE AS

Feb

15:05

ZWIPE AS FILES FOR BANKRUPTCY

Oslo, Norway – 17 February 2025

The Board of Directors of Zwipe AS has today decided to file for bankruptcy with the Oslo district court, “Tingsretten”. This decision follows a thorough review of the company’s financial situation and the determination that the company is no longer able to meet its obligations towards its creditors.

Despite extensive efforts to restructure operations and secure continued business activities, it has not been possible to achieve a financially sustainable solution. Further, as communicated on 14 February, the discussions held with third parties that were intended to secure continued operation have been unsuccessful. The Board therefore sees no alternative but to file for bankruptcy.

"It is with great regret that we are forced to make this decision today. We have done everything in our power to find alternative solutions to secure continued operations, but we have not succeeded. Our focus is now to ensure an orderly process for all affected parties," says Jörgen Lantto, chairman of Zwipe AS.

A bankruptcy trustee will be appointed by the district court and will be responsible for managing the further process, including handling the company’s assets and obligations.

This stock exchange release was published by Hugo Petit, CFO, on 17 February 2025 at 15.05 CET.

For further information contact:

Robert Puskaric, CEO of Zwipe E-mail: ir@zwipe.com

This information is subject to the disclosure requirements in article 17 of the Regulation (EU) 596/2014 (the Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se.

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:

ADDITIONAL INFORMATION

Oslo, Norway – 14 February 2025

Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 28 January 2025 regarding the discussions which were not unlikely to provide the Company with necessary financing to avoid insolvency.

The board has today concluded that these discussions have been terminated without a positive result. Therefore, the board is currently assessing the Company’s financial situation and whether there is a basis for further operations.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading Act.

This stock exchange release was published by Hugo Petit, CFO, on 14 February 2025 at 19.00 CET.

For further information contact:

Robert Puskaric, CEO of Zwipe E-mail: ir@zwipe.com

This information 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 07:00 CET on 20 January 2025.

About Zwipe

To learn more, visit:

ZWIPE AS – CHANGE IN PUBLICATION DATE FOR H2 REPORT AND ANNUAL REPORT 2024

18:22

ARBITRATION AWARD – ADDITIONAL INFORMATION

Oslo, Norway - 28 January 2025

Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") earlier today regarding the decision from the Oslo Chamber of Commerce dated 27 January 2025 at 23:25 CET in the payment dispute between IDEX Biometrics ASA and Zwipe AS. The Company has now held the extraordinary board meeting as referred to in said stock exchange announcement.

The board has discussed whether it can continue its operations in the light of the claim payable based on the decision from the Oslo Chamber of Commerce. Based on the board’s assessment, the Company is currently in discussions which are not unlikely to provide the Company with necessary financing to avoid insolvency. It is, thus, the board’s opinion that the Company currently has a basis for further operations. The Company will inform the market again when it knows the outcome of said discussions.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading Act.

This stock exchange release was published by Hugo Petit, CFO, on 28 January 2025 at 18.22 CET.

For further information contact:

Robert Puskaric, CEO of Zwipe

E-mail: ir@zwipe.com

About Zwipe

To learn more, visit:

http://www.zwipe.com

11:55

ARBITRATION AWARD

Oslo, Norway – 28 January 2025

In the prospectus published by Zwipe AS on 7 November 2024, Zwipe AS informed that Zwipe AS was in arbitration concerning a warranty dispute with IDEX Biometrics ASA at the Oslo Chamber of Commerce.

On 27 January 2025, at 23:25 CET, the Oslo Chamber of Commerce rendered its decision in the payment dispute between IDEX Biometrics ASA and Zwipe AS. The arbitration tribunal has ordered Zwipe AS to pay USD 702,000 (excluding VAT) to IDEX Biometrics ASA, plus late payment interest and legal costs. Zwipe AS is in the process of convening an extraordinary board meeting to discuss the feasibility of paying the award and continuing its operations. The outcome of the extraordinary board meeting will be announced in a subsequent press release.

This stock exchange release was published by Hugo Petit, CFO, on 28 January 2025 at 11:56 CET.

For further information contact:

Robert Puskaric, CEO of Zwipe

E-mail: ir@zwipe.com

About Zwipe

To learn more, visit:

http://www.zwipe.com

7:00

ZWIPE AS – INFORMATION ABOUT THE WARRANTS ISSUED IN CONNECTION WITH THE RIGHTS ISSUE

OSLO, NORWAY – 20 January 2025 – Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 23 December 2024 regarding the final allocation of a rights issue of units, consisting of shares and warrants of series TO2 (the "Warrants"), with preferential rights for existing shareholders raising gross proceeds of approximately NOK 40 million (the "Rights Issue").

The Rights Issue resulted in the issuance of 397,213,376 Warrants, of which 166,364,465 will be delivered to the investors that participated in the Rights Issue, while the remaining 230,848,911 Warrants will be delivered to the Company and will not be exercised. The issuance of Warrants exceeding the amount delivered to shareholders is due to compliance with Section 11-12 of the Norwegian Private Limited Liability Companies Act, which requires the general meeting minutes to specify an exact number of Warrants to be issued. At the time of the extraordinary general meeting, it was not possible to predict the subscription rate of the Rights Issue. As a result, the Company's extraordinary general meeting resolved to issue the maximum number of Warrants that could be issued in the event of full subscription in the Rights Issue, and that any surplus Warrants are to be subscribed for and returned to the Company.

All 397,213,376 Warrants will be listed and tradable on Euronext Growth Oslo for a period commencing today, 20 January 2025 and ending at 16:30 (CET) on 10 March 2025. In addition, the Warrants will be listed on Nasdaq First North Growth Market Sweden for a period commencing today, 20 January 2025 and ending at 16:30 (CET) on or about 10 March 2025.

One (1) Warrant entitle to the subscription of one (1) new share in the Company. The subscription price upon exercise of the Warrants shall be NOK 0.10 per share.

Holders of Warrants may either sell their Warrants or use them to subscribe for shares in the Company, in both cases within the deadlines stated above. As such, the Warrants may have a financial value for the holders, depending on the prevailing market price for the shares in the Company. If the Warrants are not sold or exercised within the respective deadlines, the Warrants will lapse with no compensation to the holders.

For more information pertaining to the Warrants, please see the prospectus prepared in connection with the Rights Issue (the "Prospectus"), which is available on the Company's website www.zwipe.com and on the Swedish Financial Supervisory Authority's website, www.fi.se.

Subscription and Guarantee Commitments:

In connection with the Rights Issue, the Company received subscription commitments from board members Jörgen Lantto and Dennis Jones, amounting to approximately 4.5 percent of the Rights Issue. To the extent the Rights Issue was not fully subscribed, a consortium of guarantors, including board member David Chew, agreed to subscribe and pay for units in the Rights Issue up to an aggregate subscription rate corresponding of 28 percent of the Rights Issue (the "Bottom Guarantee Commitments"). The consortium providing the Bottom Guarantee Commitments received a 15 percent underwriting fee. In addition, the Company and Fenja Capital (the "Top Guarantor") agreed that the Top Guarantor would subscribe and pay for units in the Rights Issue up to 13.9 percent of the Rights Issue (the "Top Guarantee Commitment"). The Top Guarantor received an 8 percent underwriting fee.

Further information about the subscription commitments, the Bottom Guarantee Commitments and the Top Guarantee Commitment is set out in the Prospectus.

Convertible Loan

The Top Guarantee Commitment was fulfilled through the partial set-off of NOK 5,514,472 of the Company's convertible loan, which was outstanding at the time of the Top Guarantee Commitment and amounted to NOK 10,514,472 (the "2023 Convertible Loan"). In addition, the accrued interest under the 2023 Convertible Loan, coupled with NOK 1,000,000 from the 2023 Convertible Loan, has been set-off against the Top Guarantor's commitment under the Bottom Guarantee Commitments.

The remaining balance of the 2023 Convertible Loan, in addition to an arrangement fee of NOK 200,000, in total NOK 4,200,000, has been extended in the form of a new convertible loan, which was resolved issued by the Company's board of directors on 23 December 2024, in accordance with the authorization from the Company's extraordinary general meeting on 3 December 2024.

The Company has also issued 60,000,000 contractual stock options to the Top Guarantor (the "Stock Options"). The Stock Options can be exercised up until 31 December 2026 and each Stock Option entitles to subscribe to one (1) new share in Zwipe at a price of 70 percent of VWAP during the ten trading days that immediately precede every third month-end, starting in April 2025, however no lower than the quota value of the Company's share and not higher than 150 percent of the subscription price in the Rights Issue. The Stock Options can be exercised on 30 April 2025 at the earliest. The issuance of shares upon exercise of the Share Options is contingent upon either a resolution by the Company's general meeting to issue the corresponding shares in accordance with the Norwegian Private Limited Liability Companies Act, or the Company's board of directors issuing the shares pursuant to an authorization granted under the Norwegian Private Limited Liability Companies Act.

For further information contact:

Robert Puskaric, CEO of Zwipe

E-mail: ir@zwipe.com

About Zwipe

To learn more, visit:

http://www.zwipe.com

IMPORTANT NOTICE

Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.

This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus will be prepared by the Company and published on the Company's website after the prospectus has been reviewed and approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen).

This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Belarus, Hong Kong, Japan, Canada, New Zealand, Russia, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.

Offers to the public will be permitted in Sweden and Norway from and including the date of approval of the prospectus by the competent authority in Sweden and the competent authority in Norway has been notified in accordance with the Prospectus Regulation, through to and including the end of the subscription period in the Rights Issue.

Forward-looking statements

This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.

15:30

Zwipe AS – Registration of share capital increase pertaining to the rights issue

6:05

ReddWare Inc. and Zwipe Announce Strategic Alliance

APOPKA, FLORIDA AND OSLO, NORWAY– January 13, 2025 – ReddWare Inc. and Zwipe announced today that they have entered into a strategic alliance. This collaboration aims to introduce advanced biometric access control solutions to ReddWare’s most important customer vertical, its Enterprise Systems Integrators.

The core innovation of this partnership is the Zwipe Access biometric smart cards. Zwipe’s biometric smart cards store encrypted fingerprint templates directly on the card's chip. This solution provides a quick, secure, and cost-effective way to integrate biometric authentication into existing access control systems. Notably, the biometric data never leaves the card during authentication, enhancing security and ensuring privacy by avoiding external data transmission. This partnership represents a significant advancement in the field of secure access control for the marketplace.

“Under the agreement, ReddWare’s global Enterprise Systems Integrators will have access to Zwipe’s innovative biometric access cards along with ReddWare’s extensive deployment engineering services. The cards offer two-factor authentication by integrating biometrics, eliminating the need for a separate fingerprint reader. The benefit of becoming a ReddWare Enterprise Systems Integrator is that as your business grows, the quality assurance of the systems you deploy remains consistent. This is our unique value proposition.” said Rommel Roberts, CEO ReddWare Inc.

“Innovation in access control is paramount, especially in today’s fast-evolving landscape. With ReddWare Inc. as our partner, we are proud to support the deployment of Zwipe Access cards in the United States, reinforcing our commitment to delivering an additional layer of security in critical environments,” said Robert Puskaric, President and CEO of Zwipe.

About ReddWare, Inc.

ReddWare Inc. delivers IOT software development & a high performance line of computer hardware built on the world famous Supermicro chassis. ReddWare brings over ten years of listening, observing, testing and customization for Avigilon, Genetec, IndigoVision, Milestone, Qognify and other leading surveillance platforms. These machines are the ultimate surveillance storage hardware, designed for high performance.
To know more, visit https://reddwareinc.com/ or contact 407-901-3192 X105

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 know more, visit http://www.zwipe.com

Media Inquiries

Patrice Meilland,

Chief Commercial Officer

marketing@zwipe.com

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2022

13:30

Zwipe AS – Danielle Glenn appointed new CFO and Head of IR

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.

2022

12:45

Zwipe AS – exercise of stock options

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:

Attachment

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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

2022

10:39

Zwipe and K2 to deliver Biometric Payment Cards to Banks in the MEA Region and France

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

10:00

ZWIPE AND FORZACARD PARTNER TO LAUNCH BIOMETRIC PAYMENT CARDS IN MEXICO

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

For more information contact: André Løvestam, CEO, +47 991 66 135, info@zwipe.com

8:45

Zwipe and areeba add new pilot on Biometric Payment Cards

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

8:15

Zwipe, Easy Pay and KL HI-TECH to pilot Biometric Payment Cards in India

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”.

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

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Zwipe receives new Commercial Order worth MNOK 0.6

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Commercial breakthrough is in the cards for Zwipe

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.

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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).

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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.

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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.

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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!