OSLO, NORWAY and ABU DHABI, UAE – 13 September 2021 – Zwipe and NymCard are joining forces to launch biometric payment cards in the Middle East and Africa. With the rapidly growing demand for safer and more secure payment solutions from fintechs and modern payment innovators, this collaboration will ensure a faster deployment of biometric payment cards in the region.
Based in Abu Dhabi, NymCard delivers a state-of-the-art payment card issuing and processing platform based on three key focus areas: Frictionless, Transparent and Agile. Recognized as a leading Banking-as-a-Service (BaaS) provider in the region, NymCard enables fintechs and innovative payment players to deliver a seamless payment experience to their customers with easy, secure, and faster channels. Using Open APIs and modern technologies, NymCard is known for delivering exceptionally fast implementations. It powers payment innovators in multiple industries from the Gig Economy, Buy Now Pay Later, Youth banking, and Corporate expense cards across the MEA region. NymCard is now expanding to Asia and Europe.
Speaking on the partnership, Omar Onsi, CEO and Founder at NymCard said: “In our region, consumers, fintechs, and payment providers always seek more secure and user-friendly financial services. We are now seeing increasing interest in biometric payment cards as they combine world-class security with world-class convenience. Zwipe is a highly respected fintech in the biometric payments marketplace and Zwipe Pay ONE based cards will add considerable value for our customers in MEA”.
Zwipe will provide commercialization support, expertise, and technical guidance to help NymCard integrate biometric payment cards in its portfolio. Zwipe Pay ONE based cards will be delivered by one or more of Zwipe's certified smart card manufacturers in the region. NymCard and Zwipe will start joint issuer engagements already from this month.
“The interest in adopting biometric payment cards is phenomenal in the Middle East and Africa. We are happy to partner with NymCard, a well-recognized Banking-as-a-Service provider for payment innovators and fintechs. Zwipe's biometric payment platform supports contactless payments ensuring 100% touch-free and PIN-free transactions. We are confident that this alliance will further accelerate the deployment of biometric payment cards,” said Ramzi Saboury, General Manager for Zwipe in the MENA region.
###
For further information please contact: André Løvestam, CEO, +47 991 66 135 Info@zwipe.com
About NymCard
NymCard is a MEA-based BaaS provider and modern card issuer processor. The company offers a cloud-agnostic modern payment issuing and processing platform called nCore that allows fintechs in the MENA region to instantly create, control, and distribute highly customizable virtual or physical payment cards.
NymCard’s mission is to enable companies to launch frictionless payment card programs at speed in any market in MENA and now in Asia as well. As a payment enabler, NymCard is removing the friction associated with legacy systems enabling fintechs to focus on building their product proposition rather than deal with complex payment processes.
NymCard developed its own processing technology from the ground up, where we own our whole tech stack. We published our APIs and are the only MENA-based issuer processor with a live Sandbox where fintechs can get access and start building in no time.
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 and 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 zwipe.com
OSLO, NORWAY – 3 September 2021 – The primary insider Johan Biehl, a board member of Zwipe, has today sold a total of 92,883 shares at an average at SEK 37.03. Johan Biehl’s shareholding after the transaction is 120,000 shares. Feat Invest AB, where Johan Biehl is a board member, has sold 57,301 shares at an average price at SEK 36.86. Feat Invest AB’s shareholding after the transaction is 262,479 shares.
Attached is a copy of the forms submitted to the Norwegian FSA, Finanstilsynet, reporting the transactions as listed above:
###
For further information please contact: André Løvestam, CEO, +47 991 66 135 ir@zwipe.com
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards and wearables 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
OSLO, NORWAY AND BEIRUT, LEBANON – 03 September 2021 – Zwipe is proud to announce further orders for its Zwipe Pay ONE flagship product. The latest order was placed by Inkript, a digital security provider in the Middle East and Africa (MEA) region and a subsidiary of Resource Group, and one of Zwipe’s long established partners.
The order of USD 318,000 for Zwipe Pay ONE comes after significant technical assessment and intensive business development activity across the Middle East and Africa region. Zwipe Pay One is the world’s first single silicon based biometric payment platform offered to card manufacturers globally and will be delivered in 2021 and 2022. This order has been placed at a time when both Inkript and Zwipe are experiencing strong interest from issuers aiming for pilots this year and planning for commercial rollouts in 2022.
Inkript initially placed a small-scale order in 2020 to begin the technical and commercial evaluation of Zwipe Pay ONE. Following a successful evaluation period, the company has quickly moved to reinforce its leadership position in the MEA region by guaranteeing priority deliveries to its customers upon conclusion of planned pilot cases.
“There is a growing need for sustainable, secure and user-friendly payment solutions in the MEA region, addressing the concerns of both customers and financial institutions. As a result, Inkript remains determined to support the market needs not only through our expertise but also through solid and promising partnerships. Together with Zwipe, we are investing our efforts into securing several pilots in the region to widely introduce and develop the best-in-class Zwipe Pay ONE platform in the region. Our aim is to build market awareness of the benefits of the product and ultimately to secure our first pilot commitments,” says Riad Itani, Managing Director at Inkript.
André Løvestam, CEO of Zwipe, added: “It is encouraging that the early interest shown in Zwipe Pay ONE in the Middle East has now been converted into our first, sizeable order for our product from Inkript. Their willingness to be one of the first smart card manufacturers to bring Zwipe Pay ONE powered biometric cards to issuers and card personalization bureaus in the MEA region demonstrates their leadership in this area. We look forward to supporting Inkript on this journey and to our continued mutual success within the region”.
###
For further information please contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
About Inkript
Inkript is a digital security solutions provider catering to governments, telecom operators and financial institutions in the MEA region. The company’s growth is driven by an extensive R&D and continuous investments in emerging technologies. Inkript is distinguished by its state-of-the-art factories, technology competence centers, customized integrated solutions and international certifications covering processes, quality and security.
Media Contact for Inkript: Ms. Ghina Ramadan, +9611412000 ext. 2931, gramadan@resource.group
Når en första kommersiell order
Det första halvåret och perioden efter har minst sagt varit händelserikt för Zwipe med ett antal större nya partnerskap, piloter, samarbetsavtal samt en första större kommersiell order. Den 11e maj tillkännagav bolaget ett samarbetsavtal med Beautiful Card Corporation (BCC) för att leverera bolagets biometriska kortlösningar till den asiatiska marknaden. BCC producerar kring 520 miljoner kort årligen, varav cirka 20 miljoner av dessa är betalkort. Kort efter halvårets utgång meddelande Zwipe att en första kommersiell order nåtts med BCC till ett värde av 1,9 miljoner USD, motsvarande nästan 17 miljoner kronor. Ordern kommer levereras under 2022, med möjlighet att skjuta på leverans om marknaden inte utvecklats snabbt nog. Detta utgör inte bara en av de större beställningarna för biometriska kort hittills utan innebär också att Zwipe nu tar första stegen in i den kommersiella resan, vilket bekräftar bolagets starka position i den begynnande marknaden.
Pilotavtal med stor global bank
Första halvåret har inneburit ett kraftigt växande nätverk av både partners och kunder. Dessa utgör en blandning av både kortutgivare och betaltjänstleverantörer vilket innebär att marknaden bearbetas från flera olika håll. Särskilt intressant är nyheten som släpptes i början av september där bolaget tillkännagav en pilot med en global Tier-1 bank. Piloten innebär att bolagets Zwipe Pay ONE plattform kommer att testas skarpt i tre europeiska länder i början av 2022 men potential för en kommersiell lansering i mitten av året. Detta kan utgöra en av bolagets största milstolpar hittills och potentialen är stor. Banken, som ännu inte tillkännagivits, har bas i Europa, agerar globalt på flera kontinenter och den potentiella långsiktiga volymen från avtalet är troligt i tiotals miljoner.
Tidigare i år har bolaget bland annat slutit avtal med KL HI-TECH för Indien, Be ys Pay för biometriska kort i Frankrike och Benelux-regionen, FSS för global utrullning, BCC som nämnt ovan, MEPS med fokus på MENA-regionen och Silkways Card & Printing Ltd med fokus på Bangladesh. Efter andra kvartalet har även avtal slutits med ICPS, med fokus på Afrika och Asien, samt ett avtal med MEPS där nyckelpersoner på ett tjugotal banker i Levant-regionen kommer få genomföra en pilot med bolagets Zwipe Pay ONE plattform. Det blir allt tydligare att en begynnande massmarknad tar form och intresset är större än någonsin från banker och kortutgivare.
Utvärderas av global Tier-1 korttillverkare
Utöver dessa avtal har därtill bolaget tillkännagivit att Zwipe Pay ONE plattformen utvärderas av en global smartcard-utgivare inom kategorin Tier 1. Tier 1 utgör världens tre största utgivare, alla med volymer över en halv miljard kort om året, och är en kundkategori vi tidigare inte beräknat som ett fokusområde för bolagets marknadsbearbetning. Det faktum att Zwipe nu utvärderas av allt större aktörer är en indikation på den attraktiva, konkurrenskraftiga ställning bolaget etablerar på denna begynnande marknad. Ett avtal med en kund i denna kaliber skulle innebära en större adresserbar marknad och hade accelererat adoptionen av biometriska kort givet dessa aktörers etablerade kundrelationer med några av världens största banker.
Milstolpe efter milstolpe
Halvåret innehöll inga överraskningar i siffrorna med en omsättning på 1,4 miljon norska kronor (0,9), ett resultat kring -26,9 miljoner norska kronor (-31,6) och en burnrate kring 5 miljoner norska kronor per månad. Trots detta har sommaren inneburit ett stort antal stora milstolpar för bolaget vilket gör att risken minskar samtidigt som långsiktiga potentialen stärks. Alltmer talar för att vi står inför större kommersiellt genombrott under 2022 och vi väntar oss ett fortsatt spännande år för bolaget. Till följd av sänkt diskonteringsränta och mindre förändringar i våra prognoser höjer vi bolagets motiverade värde till 43–46 kronor (34–37), på 12–18 månaders sikt.
OSLO, NORWAY – 2 SEPTEMBER 2021 - Zwipe is proud to announce a biometric payment cards pilot with a Global Tier-1 bank. The bank, which is headquartered in Europe, has a strong presence in retail banking and serves many millions of customers across several continents. The pilot will take place in three European countries using biometric payment cards based on the Zwipe Pay ONE platform.
Across many global markets, Zwipe and its card manufacturing partners are experiencing growing interest in biometric payment cards from banks. These cards will deliver world class transaction security, uplifted user experience, improved loyalty and drive new customer acquisition. Delivering a completely touch-free check-out experience above and below the current contactless limits, biometric payment cards will address elevated consumer concerns about touching the point-of-sale terminals.
Together with its card manufacturing and personalization partners, who will deliver the Zwipe Pay ONE Biometric Cards, Zwipe will commence working with the Global Tier-1 Bank later this month with the aim to launch a pilot of a few hundred cardholders across three European countries in Q1 2022. The bank also plans for a commercial launch of Zwipe Pay ONE based biometric payment cards later in the summer 2022, subject to positive results in the pilot.
André Løvestam, CEO of Zwipe, said: “We are thrilled that a Global Tier 1 bank has chosen Zwipe Pay ONE-based biometric payment cards for their pilot and, potentially, for a commercial launch where the long-term potential could be significant. Besides the technology, Zwipe will also support the bank through all stages of the pilot, ensuring that all end users’ experiences and feedback are systematically captured. This Zwipe Pay ONE pilot is a significant milestone and a testament to our world-class technology and excellent collaboration with strong partners in all parts of the payments ecosystem”.
###
This is information that Zwipe AS is obliged to make public pursuant to the Continuing obligations of companies admitted to trading on Euronext Growth Market Oslo, Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, Info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 12:45 CEST on 2 September 2021.
For further information please contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free.
To learn more, visit www.zwipe.com
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.
OSLO, NORWAY – 30 August 2021 – Zwipe AS (“Zwipe” or the “Company”) is pleased to announce that it has raised approximately NOK 104 million in gross proceeds through a private placement of 4,000,000 new shares (the “New Shares”), directed towards Erik Selin Fastigheter AB (the "Private Placement"). The Company has prior to the resolution received an indication of interest from Erik Selin Fastigheter AB covering the transaction size.
The net proceeds of the Private Placement will be used to fund further development and commercialization of the Company, general operating costs and strategic investments. After completion of this private placement, Zwipe is funded through commercial launches in 2022 and beyond based on the current business plan and market assumptions.
The subscription price in the Private Placement will be NOK 26.10 per share, corresponding to today's closing price on Nasdaq First North Growth Market. As no discount has been provided, the board does not plan to execute a repair issue.
The new Shares will be issued and tradable on Euronext Growth Oslo and Nasdaq First North Growth Market in Stockholm following the registration of the share capital increase in the Norwegian Register of Business Enterprises expected to take place on or about 30 September 2021.
The Board has found the Private Placement to be in compliance with the applicable equal treatment requirements, ref. Euronext Growth Oslo Rule Book, Part II, section 3.1. The Private Placement allows the Company to raise capital faster, with lower risk and significantly lower transaction costs than in a rights issue. Further, no discount is given from market price. The Board also shows to that no discrimination among the existing shareholders is taking place since Erik Selin Fastigheter AB is not a shareholder. Finally, the Board emphasizes that Erik Selin Fastigheter AB is generally considered a strong and long term investor who the Company and the joint shareholders will gain from including as a shareholder.
The Private Placement is exempted from relevant prospectus requirements (i) outside the United States in reliance on Regulation S under the United States Securities Act of 1933, as amended, (the “US Securities Act”) and (ii) in the United States to "accredited investors" as defined in the US Securities Act Rule 501(a), acquiring the New Shares for investment purposes for its own account, or pursuant to another exemption from the registration requirements of the US Securities Act.
Simonsen Vogt Wiig AS is acting as legal advisor to Zwipe.
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards and wearables that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free. To learn more, visit www.zwipe.com
For further information please contact: André Løvestam, CEO, +47 991 66 135 ir@zwipe.com
This is information that Zwipe AS is obliged to make public pursuant to the Euronext Growth Market Oslo Rule Book Part II, Section 3.10 and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out above, at 19:30 CEST on 30 August 2021.
###
This release is issued for information purposes only, and does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States, or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States.
The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assume any responsibility in the event there is a violation by any person of such restrictions.
The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
The Managers are acting for the Company and no one else in connection with the Private Placement and will not be responsible to anyone other than the Company providing the protections afforded to their respective clients or for providing advice in relation to the Private Placement and/or any other matter referred to in this release.
Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
OSLO, NORWAY – 26 August 2021 – Zwipe AS today publishes its first half-year 2021 report.
Summary Financial development
Second-quarter 2021
First half-year 2021
Significant events during the period
Significant events after the period
Message from the CEO
Continued strong progress
During the first half of the year, Zwipe Pay ONE and our compelling end-to-end offering continued to drive interest from all stakeholders in the payment ecosystem. Thanks to continued strong and growing global interest in biometric payment cards among Smart Card Manufacturers, Personalization Bureaus, Payment Processors, and Financial Institutions, we have expanded our ecosystem in all these categories and will continue to further strengthen our foundation for future market success. During the period, we announced important new events and milestones:
To proactively support our new customers and partners, we’ve taken many steps to strengthen our organization, including:
In April 2021, we demonstrated the Zwipe Pay ONE platform with a demo card and a home enrollment solution. We successfully carried out EMV authenticated transaction at Point-of-Sale terminals in a test environment. The feedback from the market was highly positive as we were able to demonstrate that transactions could be executed quickly and reliably, providing a considerable improvement to user experience, security, safety, and hygiene.
We have now passed almost all critical milestones and major risk points, with piloting and certification left before full commercialization and mass volumes.
Several of Zwipe’s smart card manufacturing partners have completed their internal testing processes and have begun small-scale manufacturing trials. In August 2021, we received our first commercial order for the Zwipe Pay ONE platform from Beautiful Card Corporation (in Taiwan). The net contract value is $1.9 million, marking the transition to a new phase on a very exciting journey for Zwipe. Deliveries are planned to begin in 2022. The order is a testament to how Zwipe Pay ONE is getting closer to a mass-market launch and how our global delivery set-up is getting ready to bring the next generation of payment cards to issuers, smart card manufacturers and payment processors across multiple markets.
At the same time, and as part of our global expansion plan, we have established wholly owned subsidiaries in the UK and Germany to support the global mass-market deployment of Zwipe Pay ONE powered payment cards.
Adding value through our unique and highly differentiated offer
The offer Zwipe brings to the market has proven highly attractive. It consists of the industry’s most integrated secure element, offering superior energy efficiency and biometric performance at highly competitive manufacturing cost. Together with partners we manufacture our internally developed ISO module which integrates our secure element with our ISO contact plate and ultimately with our passive inlay. We provide methods and solutions for our customers to embed the fingerprint sensor during manufacturing of the biometric payment cards. Since our secure element is so advanced in its integration of capabilities that are otherwise provided by external components, our passive inlay allows for our customers to manufacture the complete biometric card at industry-leading cost. In addition to our turn-key technology offering, we offer value-added services and insights in our end-to-end approach. The number of customers that have selected Zwipe Pay ONE is the best testament to the competitive nature of our unique and highly differentiated offer.
With strong market traction and a welcoming reaction from major industry players worldwide, Zwipe is on track to deliver on our ambitions and bring the next generation payment experience powered by biometrics to consumers globally.
###
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, Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0)8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CEST on 26 August 2021.
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact-free. To learn more, visit www.zwipe.com
For more information, please contact:
André Løvestam, +47 991 661 35, ir@zwipe.com
[1] Comparative figures in brackets are for Q2 2020
[2] Comparative figures in brackets are for H1 2020
OSLO, NORWAY and AMMAN, JORDAN – 16 August 2021 – Middle East Payment Services (MEPS) and Zwipe are pleased to announce the launch of a pilot of Biometric Payment Cards based on the Zwipe Pay ONE platform to top-level executives and key decision makers at up to 20 banks and issuers in the Levant region. MEPS is a key regional player in card issuing, payment processing and merchant acquiring services in the Middle East and North Africa (MENA). Zwipe is a biometric fintech pioneering next generation contactless payment globally.
In June, MEPS and Zwipe announced their partnership to bring Biometric Payment Cards to banks and consumers in MENA. Both organizations have noted a strong interest in biometric payment cards in the region.
Highlighting this development, Ali Abdel Jabbar, Chief Executive Officer at MEPS shared, “Nothing brings more trust in Biometric Payment Cards than the first-hand experience of using them. With this pilot, MEPS will offer the top-ranking officers and key decision makers at up to 20 banks and issuers a chance to gain such first-hand experience by trying these state-of-the-art payment cards in a live environment, making it the largest multi-bank trial of these cards globally. The pilot will be concluded in Q4 2021 with Zwipe Pay ONE Cards delivered from Inkript. We are confident that after these trials, most banks will launch pilots leading to multiple commercial launches.”
The General Manager of Zwipe MENA, Ramzi Saboury commented, “We are proud that our partner MEPS is amongst the global pioneers and first in MENA to pilot Zwipe Pay ONE, paving the way for issuers to try and ultimately launch this great technology”.
As part of the collaboration, Inkript will deliver Zwipe Pay ONE-based cards to MEPS. Inkript supplies 100 million smart cards annually across the Middle East, Africa and Europe. In 2020, it selected Zwipe for its next-generation contactless cards.
“We are impressed with the innovativeness and boldness of MEPS to launch such a large-scale, multi-bank pilot of Zwipe Pay ONE cards across the Levant region. This is a completely new approach to piloting our technology, providing a unique opportunity for top bankers and decision makers in up to 20 individual banks to experience first-hand the enhanced convenience, security and hygiene benefits of biometric payment cards. We are extremely happy and excited that our collaboration with MEPS is proceeding at such great pace,” added André Løvestam, CEO of Zwipe.
###
This is information that Zwipe AS is obliged to make public pursuant to the Continuing obligations of companies admitted to trading on Euronext Growth Market Oslo, Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, Info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 08:45 CEST on 16 August 2021.
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 Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free.
To learn more, visit www.zwipe.com
For further information please contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
OSLO, NORWAY and TAOYUAN, TAIWAN – 3 August 2021 – Zwipe is proud to announce a substantial order of USD 1.9m (net) for its flagship Zwipe Pay ONE product. The order was placed by Taiwan’s Beautiful Card Corporation (BCC) and covers the supply of modules, sensors and inlays, enabling BCC to be one of the first manufacturers to bring significant volumes of this next generation of biometric payment cards to market. This order for Zwipe Pay ONE, the world’s first single silicon based biometric payment platform offered to card manufacturers globally, will be delivered in 2022, with the option to extend delivery beyond that date if market take off is slower than anticipated, leaving any remaining unfulfilled quantities.
With around 520 million cards produced annually, of which around 20 million are EMV payment cards, BCC is listed as the largest scratch card manufacturer in Taiwan, the 2nd largest in Asia and 7th in the world.
This order follows on from the agreement between the two companies that was announced in May 2021 after an extensive period of evaluation of the Zwipe Pay ONE solution. With BCC’s volume manufacturing facility now ready, and demand for the product intensifying across the globe, the timing is right for manufacturers to begin to commit to orders, thereby securing access to and delivery priority for this innovative product at scale.
“Driven by the rapidly growing sales pipeline of new opportunities identified for NextGen Payment Cards, BCC wishes to ensure production capacity and placing this order to Zwipe is part of that commitment to our customers. We are working on bringing a disruptive new product to market and are excited by the opportunities that this will create,” commented Peggy Wu, CEO and Chairman of BCC.
“We are delighted and grateful that BCC has made this commitment to Zwipe and Zwipe Pay ONE. The partnership with BCC has been exceptional and we continue to work closely in advancing both technical and commercial activities. BCC’s investment of human and financial resources to manufacture the Zwipe Pay ONE product has demonstrated their ability to bring an outstanding product to market at scale. We look forward to be working even closer with BCC through certification and volume ramp-up,” added André Løvestam, CEO of Zwipe.
###
This is information that Zwipe AS is obliged to make public pursuant to the Continuing obligations of companies admitted to trading on Euronext Growth Market Oslo, Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CEST on 3 August 2021.
About Beautiful Card Corporation
Beautiful Card Corporation (BCC) was founded in October 1991. BCC has state-of-the-art equipment and professional specialists to fulfil their consistent management policy of providing high-quality products with competitive price. Since BCC’s founding, they have been developing new technology in card industry as well as continuously putting efforts to the innovation and improvement of all sorts of cards. Thanks to their continuous efforts, BCC’s capacity was recognized and approved by customers all over the world. BCC’s annual capacity now reaches 200 million Scratch cards, 300 million GSM SIM cards, 20 million EMV cards. BCC has obtained ISO 9001 / IS27001/ ISO14001/ ISO 45001/ ISO14298/MasterCard CQM / Visa / MasterCard / JCB / GSM SAS certifications.
Media Contact for Beautiful Card Corporation: shellen@beautifulcard.com
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing technology to biometric payment cards and wearables that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free.
To learn more, visit www.zwipe.com
For further information please contact:
André Løvestam, CEO, +47 991 66 135 info@zwipe.com
OSLO, NORWAY– 19 May 2021 – The Annual General Meeting in Zwipe AS (Company) was held today. All proposed resolutions were approved unanimously in accordance with the call for the meeting. The minutes of Annual General Meeting are included as an attachment. The complete proposal, which was approved by the Annual General Meeting, is available on www.zwipe.com for further reference. The attendants of the AGM represented 27.3% of the votes in the company.
The following matters were reviewed and confirmed:
Approval of the annual report and financial statements for 2020:
The board’s proposal for the annual report and the financial statements for 2020 for the Company and the group were unanimously approved.
Election of members to the Board of Directors:
The following persons were unanimously elected to as the new Board of Directors:
Jörgen Lantto, Chairman of the board
Dorian Barak
Johan Biehl
Dennis Jones
Stina Granberg
Tanya Juul Kjaer
Remuneration to the members of the Board of Directors and the members of the Nomination Committee
Remuneration to the Board members for the period from the AGM in 2021 until the AGM in 2022 were unanimously approved as follows:
Chairman of the Board: NOK 260,000,-
Members of the Board: NOK 130,000,-
No remuneration to the members of the Nomination Committee was resolved.
Board authorizations to increase the share capital and instructions to the Board regarding use of the authorization to increase the shares capital to strengthen the Company's equity
The Board proposed that two new authorizations for the Board on capital increases are issued, (i) to fulfil the Company's incentive program and (ii) to cater for strengthening of the Company's equity (extract, please see the attachment to the notice for the complete proposal).
i. Authorization for capital increase to fulfill the Company's incentive program
The Annual General Meeting resolved that the Board is hereby granted authorization to increase the share capital of Zwipe AS (the Company), on one or several occasions, with up to NOK 230,631.90 (2,306,319 new shares), equivalent to 7 % of the registered share capital at the time of this resolution. The authorization shall remain in force until the end of the annual general meeting 2022, however not beyond 30 June 2022. The pre-emptive right of the shareholders to subscribe may be set aside.
ii. Authorization for capital increase to strengthen the Company's equity
The Annual General Meeting resolved that the General Meeting granted a new authorization to the Board to issue shares corresponding to up to 15% of the share capital, and the new authorization shall be restricted to issue of shares to strengthen the Company's equity to the extent the Board considers this to be in the Company's best interest at the given time.
The authorization shall remain in force until the end of the annual general meeting 2022, however not beyond 30 June 2022. The pre-emptive right of the shareholders to subscribe may be set aside.
###
This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Market Oslo and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0)8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, on May 19, 2021 at 16:30 CEST
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free. To learn more, visit www.zwipe.com
For more information contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
OSLO, NORWAY and TAOYUAN, TAIWAN – 11th May 2021 – Biometric fintech pioneer Zwipe and Beautiful Card Corporation (BCC) are pleased to announce their partnership to bring Zwipe Pay ONE to markets in Asia. With around 520 million cards produced annually, of which around 20 million are EMV payment cards, BCC is listed as the largest scratch card manufacturer in Taiwan, the 2nd largest in Asia and 7th in the world.
As part of the collaboration, BCC has already commenced manufacturing of biometric payment cards based on the Zwipe Pay ONE platform, embracing the next generation of biometric payment cards and aiming to address the increasing market demand for safer and more secure contactless payments.
Since agreeing on the partnership in December 2020, the two companies have been working closely to complete the fine-tuning of the technical aspects of the solution and begin to gear up to meet the increasing demand for biometric payments. Comprehensive and rigorous tests have proven the ability to scale up production with the aim of delivering pilots and commercial deployments before the end of 2021.
“We are seeing increasing interest in biometric payment cards in our region, especially as consumers become much more familiar with contactless payments and demand safer and more hygienic payment alternatives in store. We have worked seamlessly together and have been able to adapt our manufacturing processes to integrate Zwipe’s biometric solution in our card production and are very pleased with the results. We are excited to now take this partnership to the next level,” says Mrs. Peggy Wu, CEO and Chairman of BCC.
“The Asia Pacific Region, led by countries like Taiwan, Korea, Japan, and India, continues to innovate and lead the world in many areas of payment card technology. We are very pleased that BCC is embracing the Zwipe platform and bringing our collaboration forward, to jointly address the needs of banks and consumers in Asia and global markets,” says André Løvestam, CEO of Zwipe.
###
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free. To learn more, visit www.zwipe.com
For more information contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
About Beautiful Card Corporation
Beautiful Card Corporation (BCC) was founded in October 1991. BCC has state-of-the-art equipment and professional specialists to fulfil their consistent management policy of providing high-quality products with competitive price. Since BCC’s founding, they have been developing new technology in card industry as well as continuously putting efforts to the innovation and improvement of all sorts of cards. Thanks to their continuous efforts, BCC’s capacity was recognized and approved by customers all over the world. BCC’s annual capacity now reaches 200 million Scratch cards, 300 million GSM SIM cards, 20 million EMV cards. BCC has obtained ISO 9001 / IS27001/ ISO14001/ ISO 45001/ ISO14298/MasterCard CQM / Visa / MasterCard / JCB / GSM SAS certifications.
Media Contact for Beautiful Card Corporation: shellen@beautifulcard.com
To learn more, please visit: http://www.card.com.tw/en/about.php
OSLO, NORWAY and CHENNAI, INDIA – 10 May 2021 – FSS (Financial Software and Systems), a leading global provider of integrated payment products and a payment processor, is partnering with Zwipe to bring next generation contactless payment cards to issuers globally. Zwipe is a payment FinTech recognized for having pioneered the development of biometric payments and has delivered many successful pilots around the world.
FSS is among the leading providers of card issuance products globally and its card portfolio consists of 800 plus million payment cards for Tier One banks and payment processors. The organizations will collaborate closely, offering greater value to customers by combining FSS’s Unified Issuance Platform and Zwipe Pay One biometric card capabilities, supported by Zwipe’s fast-growing global network of card manufacturing partners.
The widespread adoption of contactless payment cards has been a huge success in recent years[1]. The Covid-19 pandemic has accelerated the use of contactless payments even further as consumers demand a safe, contact-free transacting environment. However, the lack of cardholder authentication with contactless cards translates into usage being restricted to relatively small and medium value payments, hampering the ability to deliver a fully contact-free experience for all payment values. The response to this is the biometric payment card that fully enables contact-free transactions while boosting confidence and security for consumers, retailers and issuers.
Commenting on the partnership K Srinivasan, Chief Operating Officer, FSS PayTech, said “Biometric payment cards will bring strong differentiation and value uplift to our card issuance and management offerings. Our partnership with Zwipe will help our issuer clients to deliver a completely touchless and PIN-free check out experience, better in-store payments hygiene and much stronger cardholder security. Needless to say, now more than ever, innovation can play a critical role within the context of the global pandemic which makes it even more important to bring solutions such as this quickly to our customers. Zwipe Pay ONE is recognized as the most advanced (Gen3) biometric payment technology and complements FSS’ innovative card portfolio. It will be made available to our clients for piloting and deployment from H2 2021”.
As part of this collaboration, FSS will offer Zwipe Pay ONE biometric payment cards globally. The initial focus will be in those markets where contactless is bringing considerable benefits in the area of financial inclusion as seen in Canada, India and a number of countries within Europe, Middle East (GCC countries) and Africa. Both partners will start engaging with issuers from Q2 2021 and aim for starting pilots from 2H 2021.
“We are humbled and proud to partner with FSS, one of the most respected and global providers of payment services. This is a landmark agreement for Zwipe and will significantly accelerate our growth globally, most notably in Asia, the world’s largest payment market,” said André Løvestam, CEO of Zwipe.
###
This is information that Zwipe AS is obliged to make public pursuant to the Continuing obligations of companies admitted to trading on Euronext Growth Market Oslo, Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 10:05 CEST on 10 May 2021.
About FSS
Financial Software and Systems (FSS) is a leader in payments technology and transaction processing. The company offers an integrated portfolio of software products, hosted payment services and software solutions built over 30+ years of experience. FSS, end-to-end payments products suite, powers retail delivery channels including ATM, POS, Internet and Mobile as well as critical back-end functions including cards management, reconciliation, settlement, merchant management and device monitoring. Headquartered in Chennai, India, FSS services leading global banks, financial institutions, processors, central regulators and governments across North America, UK, Europe, ME, Africa, and APAC and has 2,500 experts on-board. For more information visit www.fsstech.com
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and
consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free. To learn more, visit www.zwipe.com
For further information please contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
OSLO, NORWAY - 28 April 2021 - The board of directors of Zwipe AS (“the Company”) call for the Annual General Meeting (“AGM”) to be held on 19 May 2021 at 14:00 CEST. Due to the ongoing covid-19 pandemic, the general meeting will be held as a digital meeting on Microsoft Teams.
Please find enclosed the notice of the Annual General Meeting. The notice and Zwipe’s Annual Report for 2020 are available on the Company’s website, https://zwipe.com/investors
Notice of attendance, in person or by proxy, shall be given no later than 18 May 2021 at 16:00 CEST. Shareholders are encouraged to register via the link found here.
Alternatively, the attached form may be sent by e-mail to genf@dnb.no, or regular post to DNB Bank ASA, Verdipapirservice, NO-0021 Oslo.
In order to be invited to the meeting, Zwipe’s administration will need to have the shareholder’s email address in advance. Shareholders must after having registered their attendance also register their email address by sending an email to ir@zwipe.com.
The board of directors (the "Board") has proposed the following agenda:
Opening of the General Meeting by the chair. Registration of meeting shareholders
Election of a meeting chairperson and person to co-sign the minutes together with the chairperson
Approval of the notice and the agenda
Report by the management on the Company
Approval of the annual report and financial statements for 2020 for the Company and the group
Remuneration to the auditor
Election of members to the Board
Remuneration to the Board and the members of the Nomination Committee
Proposal to grant the board a new authorization to increase the share capital
Proposed decisions from the Board
Matter no. 5: Approval of the annual report and financial statements for 2020 for the Company and the group
The boards proposal for annual report and financial statements for 2020 for the Company and the group were unanimously approved.
Matter no. 6: Remuneration to the auditor
The Board proposes that the auditor's fees are paid as per accounts rendered.
Matter no. 7: Election of members to the Board
Subject to the general meeting's approval, the Company's Board of Directors will comprise:
Jörgen Lantto, Chairman of the board
Johan Biehl
Dennis Jones
Diderik Schonheyder
Stina Granberg
Tanya Juul Kjaer
Matter no. 8: Remuneration to the members of the Board and the members of the Nomination Committee
The Nomination Committee makes the following recommendation:
Fees to the Board for the period from the AGM in 2020 until the AGM in 2021 were resolved by the AGM on 14 May 2020.
Fees to the Board for the period from the AGM in 2021 until the AGM in 2022 is suggested as follows:
Chairman of the Board: NOK 260.000,-
Members of the Board: NOK 130.000,-
As to remuneration, the nomination committee proposes that no remuneration is paid to the members of the nomination committee.
Matter no. 9: Proposal on authorizations to the Board on capital increase
The Board proposes that two new authorizations for the Board on capital increases are issued, (i) to fulfil the Company's incentive program and (ii) to cater for strengthening of the Company's equity.
The Board proposes that the General Meeting adopts the following resolution:
1. Authorization for capital increase to fulfill the Company's incentive program
The board of directors is hereby granted authorization to increase the share capital of Zwipe AS, on one or several occasions, with up to NOK 230,498.90 (2,304,989), equivalent to 7 % of the registered share capital at the time of this resolution.
2. Authorization for capital increase to strengthen the Company's equity
The Board proposes that the General Meeting grants a new authorization to the Board to issue shares corresponding to up to 15% of the share capital, and the new authorization shall be restricted to issue of shares to strengthen the Company's equity to the extent the Board considers this to be in the Company's best interest at the given time.
The board of directors is hereby granted authorization to increase the share capital of Zwipe AS with up to NOK 493,926.10 (4,939,261 new shares) on one or several occasions.
The authorization may be used to issue shares to strengthen the Company's equity to the extent the Board considers this to be in the Company's best interest at the given time.
###
This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Market Oslo and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 17:35 CEST on 28 April 2021.
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free. To learn more, visit www.zwipe.com
For more information, please contact:
Lars Kristian Solheim, CFO
+47 991 661 35
lars.kristian@zwipe.com
OSLO, NORWAY - 28 April 2021 - In connection with our first quarter 2021 update, Zwipe is today for the first time publicly demonstrating the world’s first Single Silicon Biometric System on Card that is being offered to card manufacturers globally – namely Zwipe Pay ONE.
A first quarter operational update webcast will be given at 12:00 CEST today. You can register for the presentation by sending an email to events@arctic.com.
###
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free. To learn more, visit www.zwipe.com
For further information, please contact: André Løvestam, CEO, +47 991 66 135, ir@zwipe.com
OSLO, NORWAY – 28 APRIL 2021 –
Q1 2021 Highlights
During the first quarter 2021, Zwipe continued to strengthen its foundation for mass-volume roll out of biometric payment cards.
Swedish fintech Vopy, a provider of embedded financial services for telecom and financial institutions globally, selected the Zwipe Pay ONE platform for its biometric payment cards.
Zwipe announced the finalization of four new partnerships with prominent card manufacturers in Asia-Pacific and Europe. The combined annual card shipment from these new customers is more than 1 billion, of which payment cards constitute more than 150 million.
Tag Systems, a leading provider of payment cards (and part of AUSTRIACARD Group), decided to strengthen its collaboration with Zwipe to bring the most advanced new biometric payment cards to issuers in Europe and North America. The group delivers 100 million payment cards each year across Europe, the Middle East and the US. Tag Systems also placed a small initial order for Zwipe Pay ONE.
Developments after the period
KL HI-TECH, the 2nd largest payment card manufacturer in India selected the Zwipe Pay ONE platform to deliver biometric payment cards to its clients in India and key international markets. KL HI-TECH serves some of India's largest banks and delivers approximately 30 million payment cards per year.
French payment solutions provider be ys Pay selected Zwipe to offer biometric payment cards to the French, Belgian, Luxembourg and Dutch markets. be ys Pay is an integral part of the international be ys ecosystem, present on three continents with more than 3 000 employees.
To strengthen its strategic engagements in the Middle East and Africa (MEA) and India, Zwipe has appointed Ramzi Saboury as General Manager for the Middle East and North Africa (MENA) Region and Masterline as Strategic Business Partner in India and other selected markets in the MEA region.
CEO Comment
During the first quarter of 2021, Zwipe has seen significant progress on all fronts – operationally, technologically and organizationally.
We continued to grow our ecosystem of smart card manufacturers and go-to-market partners, while cementing our collaboration with key technology partners in the payments value chain. We have taken major steps towards technology readiness with our Zwipe Pay ONE platform, passing critical milestones and risk points and successfully performing fully functional internal test transactions with Zwipe Pay ONE demo cards. Consequently, we are on track to support our partners launch pilots after the summer. We have also onboarded key expert resources onto our team, strengthening the Zwipe organization even further.
The first quarter was characterized by a continued high level of activity and we finalized many key agreements. Swedish fintech Vopy, chose Zwipe Pay ONE for issuing biometric payment cards to their global telecom and financial institutions client network. The four agreements with prominent card manufacturers in Asia-Pacific and Europe, with a combined yearly shipment of more than 150 million payment cards announced during the quarter, was another recognition of the attractiveness of our offering. Subject to positive pilot results, mass-market rollout will follow. The renewal and strengthening of our commercial partnership with TAG Systems, including TAG Nitecrest in the UK, further reinforced our foundation for market success, especially in Europe and North America.
We ended a solid quarter and kick-started the next announcing agreements with KL HI-TECH, India's second-largest card manufacturer (delivering 30 million payment cards annually), and French payment provider be ys Pay, which will bring biometric payment cards based on our platform to banks in France and the Benelux region. KL HI-TECH is now ramping up its industrialization efforts to deliver Zwipe Pay ONE biometric payment cards to leading issuers in India and selected markets in the Middle East and Africa.
In response to strong interest in Zwipe Pay ONE Cards from card manufacturers, card bureaus, issuers and consumers in the Middle East and North Africa (MENA) region and in India, we have established a local presence by appointing a highly experienced General Manager for the MENA region and entering a collaboration with Masterline, a well-connected player in the field of fintech and payment solutions, as a Strategic Business Partner in India and beyond. We have also further strengthened our organization with several top payment industry talents both in the commercial and the R&D team. I am particularly delighted to welcome our new Chief Sales Officer, John Goodale, to my management team. John, who has a long and proven track record from one of the world’s largest processors, TSYS, and also from professional services at KPMG and DMR Consulting, is leading Zwipe’s engagement and conversion efforts with smart card manufacturers. He is also supporting our engagements with issuers and selected go-to-market partners to further strengthen Zwipe’s position in the global biometric payments market.
The growing interest in biometric payment cards has been noted in several independent analyst reports in recent months (notably from UBS, ABI Research, Goode Intelligence). The common theme in all these reports is their increased volume projections for biometric payment cards over the next 3 to 5 years, suggesting a share of 15-20 % of issued payment cards in 2026.
Since the outbreak of the pandemic a number of countries raised the contactless transaction limits in response to safety concerns from consumers when having to touch the payment terminals (most recently the UK treasury increased the contactless limit from 45 to 100 pounds).
While increasing the contactless limit is a very pragmatic solution in the pandemic times, this solution is unfortunately not very sustainable due to the underlying concerns on the lack of security in contactless payments. These concerns were also obvious from consumers’ comments in discussion forums when the UK treasure decided to more than double the contactless limits. For us, this is further proof that the natural and sustainable step from contact-less payments is contact-free payments, facilitated by biometric payment cards.
As we near completion of the development of Zwipe Pay ONE, which has been a journey we embarked on together with IDEMIA and other key partners almost two years ago, I am very excited to enter into the next phase of increased commercial efforts and subsequent roll-out to consumers.
Zwipe has a historically strong pipeline, a highly competent, passionate and agile organization managing a disruptive technology that is in demand in the market, and a robust ecosystem of partners taking an increasingly proactive role in promoting Zwipe. This is all laying a strong foundation for long-term value creation. The journey has just begun.
Financial Update
Sales revenues in Q1 2021 were MNOK 0.3 (MNOK 0.4).
Average monthly operational cash flow was MNOK -6.3 in Q1 2021 versus MNOK -5.8 in Q1 2020. The increase is in line with higher activity in the company. During the last quarter of 2020 and first quarter of 2021, Zwipe has increased its staff in response to the increased demand for piloting and deployment of our payment solutions and services.
Zwipe was granted a second bank loan of MNOK 2.1 in February 2021 through the second draw of the US Paycheck Protection Program (PPP). The loan is payable in five years. Zwipe may be eligible for partial or full loan forgiveness given fulfilment of a set of requirements.
The closing cash balance at the end of Q1 2021 was MNOK 108.9 (MNOK 54.6). The development in cash balance since Q4 2020 is primarily a result of operational cash flow of MNOK -18.8 and the second PPP bank loan of MNOK 2.1.
###
This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Market Oslo, on Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CET on 28 April 2021.
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free. To learn more, visit www.zwipe.com
For more information, please contact:
Lars Kristian Solheim, CFO
+47 991 661 35
lars.kristian@zwipe.com
Oslo, Norway – 12 April 2021 – On the back of strong interest from card manufacturers, card bureaus and issuers in the MENA Region and in India, biometric technology company Zwipe has established presence in these two key regions by appointing a General Manager for the Middle East and North Africa (MENA) Region and entering a collaboration with a Strategic Business Partner in India.
Ramzi Saboury, Zwipe’s newly appointed General Manager in MENA
Mr. Saboury has a distinguished career spanning over 26 years within Payment Services at leading banks in Kuwait, as regional GM for Levant at Visa Inc. and as CCO at areeba. During these years, he has successfully established many financial services, most notably within contactless payments and mobile technologies. In 2018, Mr. Saboury was awarded by the Asian Bankers Organization “The 50 Most Promising Young Leaders in the Banking and Financial Services industry for APAC and the Middle East Regions”.
“Zwipe's decision to strengthen its position in MENA fits perfectly with the transformations that are taking place in the global payments market. I am delighted to have joined Zwipe's team and I am already busy driving biometric payment cards and Zwipe Pay ONE in a region that is very keen for such advanced solutions,” says Ramzi Saboury.
Masterline, newly appointed Strategic Business Partner in India
Zwipe has also entered a collaboration with Masterline as Strategic Business Partner to accelerate deployment of the Zwipe Pay ONE platform in India and key markets in the Middle East and Africa (MEA). Masterline possesses a proficiency from over 20 years of driving sales and deployment of smart card products, SIM cards and recharge scratch cards. It is a seasoned and well-connected player in the field of fintech and payment solutions in the region and beyond.
"The Masterline team and I are delighted to proactively assist the on-the-ground customer and go-to-market partner on-boarding on behalf of Zwipe in these regions. We are promoting the disruptive Zwipe Pay ONE platform both to smart card manufacturers and banks. There is significant market interest and we see great potential for biometric payment cards in India and elsewhere,” says Naresh Nanda, Founder and Managing Director of Masterline Group.
Commenting on these developments, André Løvestam, CEO of Zwipe, says "Our end-to-end, one-stop-shop offering to enable launch of biometric payment cards is welcomed by players across the payments value chain, both in the MENA region and in India. Ramzi’s expertise in driving payment innovations to successful businesses in the MENA region and Masterline’s formidable track record in scaling smart card products in India and certain MEA markets will be key in accelerating the mass market deployment of Zwipe Pay ONE-powered payment cards”.
###
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free. To learn more, visit www.zwipe.com.
For further information, please contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
About Masterline
Masterline has effectively, since 1994, delivered telecom and fintech solution whilst expanding its sales footprints in 30+ countries. A veteran in sales and supply of recharge cards and smart cards industry, along with strategic telecom devices & fintech solutions, Masterline has provisioned companies in serving over 27 million mobile users across the world. With 27+ years of experience, Masterline group, works with cutting-edge technologies, exceptional strategic planning, keeping prime thrust on global aspirations while guaranteeing complete client satisfaction. For more information, visit www.masterline.in
Contact: Naresh Nanda, Founder | Managing Director; info@masterline.in
Oslo, Norway and Paris, France - April 7, 2021 - French payment solutions provider be ys Pay (pronounced “be-wise” pay), a fintech dedicated to payment technologies is partnering with Zwipe, a Norwegian fintech dedicated to biometric payment solutions, to offer biometric payment cards to the French, Belgian, Luxembourg and Dutch markets.
Biometric payment cards allow consumers to conduct contactless transactions securely through authentication with their fingerprints. The innovation offered by Zwipe is based on highly secure authentication technology.
The purpose of the partnership is to offer Zwipe Pay ONE-enabled biometric payment cards to be ys Pay customers. The partners will together engage with the issuers from Q2 2021 and have the ambition to deliver pilots from H2 2021.
Mirko Koscina, president of be ys Pay, says: "Biometric payment cards represent the future, particularly in this period of health crisis since the payment transactions will be completely contact free. These cards will provide added security and convenience to consumers. As for the financial institutions, those who make use of this solution will stand to gain significantly in the long term”.
be ys Pay is an integral part of the international be ys ecosystem, present on three continents with more than three thousand employees. Expert in the mass processing, storage and securing of sensitive data, be ys operates trusted digital ecosystems for any economic activity requiring mastery of digital identity, processing of personal and confidential data flows, at the service and in support of natural and legal persons, for the French health sector for twenty years, and more recently for legal professionals, social landlords, banks, and large international companies. be ys has its own data center, "La Citadelle", located in Clermont-Ferrand, at the highest level of security in Europe, and is recognized as a Qualified Trust Services Provider. be ys is also an associate member of the Open Lab of CERN in Geneva.
"We are delighted that be ys Pay is introducing Zwipe Pay ONE biometric payment cards in strategic markets, such as France and the Benelux. Thanks to be ys Pay's network of banking customers, this collaboration will further strengthen our ability to offer a contactless payment experience for cardholders and issuers in Europe,” said André Løvestam, CEO of Zwipe.
###
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment cards components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. Together with an ecosystem of partners including global brands within digital security and financial services, Zwipe is "Making Convenience Safe & Secure" for banks, merchants and consumers. Zwipe's solutions address the hygiene and data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, with a global presence, Zwipe is leading the next great shift in payments from contactless to contact free. To learn more, visit www.zwipe.com
For further information please contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
About be ys Pay
We are a fintech company dedicated to payment technologies. Our philosophy involves the use of innovation and technology to overcome limitations. In be ys Pay we offer solutions throughout the entire life cycle of payment methods and integrate payment solutions into global and local schemes. We are experts in cryptography and deep knowledge of security. Subsequently, we can apply the technology to solutions that improve the efficiency and relationships between companies and their customers.
Our solutions:
- Card issuance: we have the technological capacity and flexibility to personalize cards that do what you want
- Onboarding of customers in presence and digital
- E-wallet - tokenization
- 3D secure
- Payment terminal for shops
To learn more about our company and solutions please visit our website https://www.be-ys-pay.com/
For further information please contact: Laura Bernal marketing Manager +330645246241
The correction is with reference to the total number of cards delivered per year by KL HI-TECH.
OSLO, NORWAY and HYDERABAD, INDIA – 6 April 2021 – KL HI-TECH, one of India’s largest payment card manufacturers, has selected the Zwipe Pay ONE platform to deliver biometric payment cards to its clients in India and key international markets. Zwipe is a FinTech that has pioneered the development of biometric payment cards and delivered many successful pilots globally.
Founded in 1988, KL HI-TECH currently delivers a total of 50 million cards per year, of which approximately 30 million are payment cards, serving some of the largest banks in India and abroad. As per the recent Nilson Report (2020) KL HI-TECH is the 2nd largest payment card manufacturer in India and the 31st largest in the world.
KL-HI TECH engaged with Zwipe in early 2021 and after extensive evaluation of available alternatives selected Zwipe Pay ONE as the preferred biometric card platform for its next generation payment cards.
"KL HI-TECH has over three decades of experience in helping drive our clients’ growth through differentiation and innovation in payments. We are constantly seeking new technologies & innovations to enhance the payment experience to people in India and across the globe.
With the impact of the pandemic still being felt across India, consumers’ focus on safety and hygiene has increased significantly. In collaboration with Zwipe, we will deliver physical cards that will enable payments to be completely touch-less through a PIN-free checkout experience for consumers with much higher security. Our assessment shows that Zwipe Pay ONE represents the most advanced and high-performing solution and will be the first mass-market viable platform”, said P. Srinivas Rao, Chairman & CEO of KL HI-TECH.
As part of this agreement, Zwipe will provide biometric technology and technical services to enable KL HI-TECH to manufacture Zwipe Pay ONE test cards from Q2 2021. The partners are already jointly engaging with issuers in India with the aim of launching pilots from Q3 2021 and supporting the first full market launches towards the end of this year. "We are extremely pleased that KL HI-TECH has selected Zwipe Pay ONE as their biometric payment card platform. India is one of the world’s most attractive payment markets in size, growth rates and business potential. Complementing each other, Zwipe and KL HI-TECH will leverage each other’s unique technology, product and market assets, including KL HI-TECH’s extensive relationships with the leading banks in India, the Middle East and Africa, to offer innovative biometric payment solutions,” said André Løvestam, CEO of Zwipe.
For further information please contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
About KL HI-Tech
KL HI-TECH Secure Print Limited (KLHT) is a leading provider of secure print products and printing solutions. Commencing its operations in 1988, KLHT has played a pioneering role in enabling secure payment transactions, banking services and facilitating tele communications in India through its secure print products.
At its sprawling state-of-the-art highly secure manufacturing facility located in Hyderabad, the company operates using stringent global standards that are required to manufacture a range of security printing products.
The company is certified by Visa, Mastercard & RuPay (National Payments Corporation of India). As per the Nilson Report (2020) KL HI-TECH is the 2nd largest banking card manufacturer in India and 31st largest banking card manufacturer in the world.
KLHT’s business ideology revolves around the prime objective of providing comprehensive, fool-proof security in critical secure print products. KLHT plays a pivotal role by manufacturing products for the following sectors:
Banks and Financial Institutions
Central and State Governments
Educational Boards and Institutions
Telecom Sector
Nationwide Election Commissions
Transport Sector
Exporting to over 52 countries across the Globe, KLHT aims to become one of the leading suppliers of secure print products globally, whilst also pioneering innovation and change to the way payments are made in India and across the globe.For further information please contact Kartik Shekar, VP – Projects, kartik@klhitech.com, +91 8008 188 466
