OSLO, NORWAY – 3 November 2021 - Zwipe’s technology partner, Idemia, has announced that it has obtained full certification from both VISA and Mastercard for its F.CODE biometric payment card.
These certifications (Letters of Approval) represent full validation of the core components in our disruptive technology platform, Zwipe Pay ONE, notably the shared single silicon biometric secure element, where Idemia and Zwipe have co-invested since Q4 2019, and the IDX3405 fingerprint sensor from Idex Biometrics.
This paves the way for subsequent successful certification of Zwipe Pay ONE enabled biometric payment cards for Zwipe’s customers, as Zwipe is working towards completion of its Zwipe Pay ONE platform. Zwipe Pay ONE includes Zwipe’s ISO Module integrating the now fully certified single silicon biometric secure element, as well as Zwipe’s passive inlay. Zwipe’s customers can also purchase the fully validated Idex Biometrics fingerprint sensor, IDX3405, from Zwipe. The timing for certification of Zwipe’s card manufacturing customers will be subject to the planning and execution of the certification by each customer.
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For further information, please contact:
André Løvestam, CEO, +47 991 66 135
info@zwipe.com
OSLO, NORWAY and SINGAPORE – 2 November 2021 - Zwipe, a leading biometrics payment company, announced that it had appointed Claus Hansen as Vice President of Sales and Business Development, Asia Pacific (APAC) region. Mr Hansen will lead Zwipe's engagements with card manufacturers, issuers and technology partners to drive the adoption of biometric payment solutions in APAC.
With this appointment, Zwipe aims to strengthen its foothold in the APAC region. Mr Hansen will be accompanied with two existing colleagues at the newly-established Zwipe subsidiary in Singapore (Zwipe Singapore Pte. Ltd.) The new regional office strongly reinforces Zwipe’s long-term vision to support its partners and customers in the area.
Commenting on this latest Zwipe development in the APAC Region, André Løvestam, CEO of Zwipe said, "Claus's appointment demonstrates our commitment to one of the world's largest and most rapidly growing regions within payments. We have significant customer relationships in the APAC region and are excited by the strong interest that our Zwipe Pay ONE platform has received. Claus's deep smart card industry knowledge and proven track record in successfully launching new payment solutions in APAC will help us accelerate the full potential of our platform.”
Claus Hansen, Vice President of Sales and Business Development, APAC, said, "The Zwipe Pay ONE platform with a Single Silicon Biometric System on Card is a game-changer for the payments industry. I am very excited to join this visionary team of passionate people. Convenience, security and safety are important for consumers' choice of payment option. Zwipe is perfectly positioned to provide innovative card-based solutions allowing our clients to respond to market needs, as well as become the strategic technology partner of choice".
Mr Hansen brings over 25 years of payment technology, cybersecurity, fintech and smart card experience to the role. He has held senior executive management positions across multiple countries in Asia in Entrust, NXP Semiconductors, Gemalto, dz card and Kona I.
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For further information, please contact:
André Løvestam, CEO,
+47 991 66 135
info@zwipe.com
Acceleration på flera fronter
Zwipe fortsätter det höga tempo som bolaget har hållit hittills under året och har presenterat många spännande nyheter senaste kvartalet. Kvartalet har inneburit ett antal nya partnerskap med en mängd olika aktörer i branschen. Mest noterbart är den allt starkare närvaron i Mellanöstern och Asien, med avtal med bland annat partnerskap med go-to-market aktörerna ICPS, Nymcard, QPS och CCM. Vidare har pilotavtal också slutits med MEPS för Levantregionen, Credit Libanais, en större aktör i Libanon, det norska fintech-bolaget Reltime samt en större global Tier-1 bank med pilotlanseringar i tre europeiska länder. Till följd av den allt starkare närvaron i regionen Mellanöstern, Asien och Afrika har en Claus Hansen tillsatts som VP Sales and Business Development för APAC-regionen. (Asien-Stilla-havsregionen). Bolaget har utöver detta tagit viktiga steg i Latinamerika och Karibien, genom ett avtal med det Chile-baserade fintechbolaget IC Payments.
Ytterligare kommersiell order
I vår förra uppdatering lyfte vi fram den stora nyheten att bolaget mottagit sin första order. Den kom från BCC i Taiwan och uppgick till totalt 17 miljoner norska kronor. Kort efter att analysen publicerades följde bolaget upp med att tillkännagiva att Inkript, en av de största betalkortsleverantörerna i Menaregionen (Mellanöstern och Nord-afrika) har lagt en order på totalt 3 miljoner norska kronor. Iochmed detta så stärks bolagets kommersiella momentum ytterligare och det är inte orimligt att tro i detta läge att ytterligare ordrar kan finnas i närtid. Totalt har bolaget idag skarpa ordrar på 20 miljoner norska kronor trots att de i stort fortsatt befinner sig i ett förkommersiellt stadie.
Genombrott med Tier-1 aktörer
Värt att också lyfta fram är de framgångar som Zwipe fortsätter att röna med större globala Tier-1 aktörer. Detta är anmärkningsvärt för flera anledningar, då detta inte nödvändigtvis varit ett fokusområde tidigare för bolaget. Utvärderingen av bolagets Zwipe Pay One plattform sker nu av en global Tier-1 smartkortsleverantör och ett positivt utfall på detta kan få stora effekter. Vidare har bolaget också adderat en europeisk Tier-1 bank som ger ut flera miljoner kort årligen globalt och som skall genomföra en pilot i tre europeiska länder i Q1 2022. Givet ett positivt utfall på detta så siktar banken på en större kommersiell lansering under sommaren 2022. Mycket pekar med andra ord för att 2022 kan bli ett spännande år där det kommersiella genombrottet för biometriska kort tar fart ordentligt.
Bibehållen positiv syn
Kvartalet innehöll inga överraskningar i siffrorna med en omsättning på 0,4 miljoner NOK och ett kassaflöde på -5,3 miljoner NOK per månad. Vi justerar ned våra prognoser på kort sikt men bibehåller den starka synen på lång sikt och upprepar vårt motiverade värde på 43–46 kronor på 12–18 månaders sikt. Bolaget befinner sig fortsatt i ett starkt momentum och vi väntar oss ett intensivt nyhetsflöde de kommande månaderna. Vi ser störst risk i eventuella förseningar i kommersialiseringsprocessen.
OSLO, NORWAY – 26 October 2021
During the third quarter, Zwipe has continued to strengthen its foundation for launching pilots and mass-volume roll out of biometric payment cards.
Mauritius-based ICPS, one of Africa’s leading card personalization and processing service providers, partnered with Zwipe to bring biometric payment cards to Africa and Asia.
A global Tier 1 smartcard manufacturer started the evaluation of the Zwipe Pay ONE platform.
Zwipe received an MNOK 17 (USD 1.9 million) commercial order from Beautiful Card Corporation (BCC) in Taiwan, which produces around 520 million cards annually, of which around 20 million are EMV payment cards.
Middle East Payment Services (MEPS), a Jordan-based commercial issuer of payment cards, announced its decision to pilot Zwipe Pay ONE with executives at up to 20 Financial Institutions in the Levant region1.
Erik Selin invested MNOK 104 in Zwipe through a private placement to further accelerate development and commercialization of Zwipe.
A European-based Global Tier 1 Bank, with several millions of payment cards deployed globally, decided to pilot Zwipe Pay ONE-based Biometric Payment Cards in three European countries. The bank plans for a commercial launch in summer 2022, subject to positive pilot results.
Zwipe received a Commercial Order of MNOK 3 (USD 318,000) from Inkript, one of the largest payment card suppliers in the Middle East and North Africa (MENA) region.
UAE-based card issuing and processing provider NymCard joined forces with Zwipe to accelerate the deployment of biometric payment cards in the Middle East and Africa.
Zwipe and India-based Que Processing Services (QPS) announced collaboration to bring Zwipe Pay ONE biometric payment cards in Asia and the Middle East.
Zwipe and Lebanon-based Credit Card Management (CCM), who delivers payment services to more than 25 banks in Lebanon, announced collaboration to launch biometric payment card pilots in the country.
Norwegian fintech Reltime selected the Zwipe Pay ONE platform to power its biometric payment card offering as part of its global financial services ecosystem, with the aim to launch pilots from Q1 2022.
Zwipe America Inc. received full forgiveness of the second bank loan of $248 000 through the Paycheck Protection Program (PPP) which was granted and paid out in the first quarter of 2021.
Significant Events after the period
IC Payments, a Chile based fintech with offices in Uruguay and Argentina as well as a solid network of partners across Latin America, partnered with Zwipe to offer biometric payment solutions in the Latin American and Caribbean markets.
Credit Libanais, one of the largest banks in Lebanon and a principal member of Visa and Mastercard, has chosen to pilot biometric payment card based on Zwipe Pay ONE.
Zwipe has hired Claus Hansen as VP Sales and Business Development in APAC. Claus is based in Singapore and has a long career working in the smart card industry with more than 30 years’ experience in APAC and a broad network in the region.
Comments from the CEO
The third quarter of 2021 has been momentous for Zwipe in many ways.
On the customer side, we received our first commercial orders for subsequent deployments of Zwipe Pay ONE) from BCC in Taiwan and Inkript in Lebanon with a combined value of MNOK 20 (USD 2.2 million). Both players have strong regional positions in Asia and the MENA region respectively.
We are also pleased that a global Tier 1 Smartcard Manufacturer decided to start a comprehensive evaluation of the Zwipe Pay ONE platform, reflecting the relevance and competitiveness of our technology and offering.
On the issuer side, the innovativeness of Middle East Payment Services (MEPS) to launch a large-scale, multi-bank pilot with Zwipe Pay ONE to bank executives across the Levant region1 was a great step forward and has inspired us to develop new concepts for accelerated piloting that reduces upfront preparation for the banks.
I was also thrilled that a European-based global Tier-1 bank decided to launch Zwipe Pay ONE pilots in three European countries with intentions to launch commercially during summer 2022 subject to positive pilot results. Attracting global tier-1 players, not only among processors and card manufacturers, but also among banks, is something we are very proud of at Zwipe.
In addition, Reltime decided to pilot and subsequently launch Zwipe Pay ONE enabled cards to bring world-class security in its decentralized financial services ecosystem.
In parallel with all this, we further strengthened our reach, market coverage, and implementation capabilities in Asia, Africa and the Middle East by finalizing key Go-to-market partnerships with ICPS (part of the HPS Group), NymCard, Que Processing Services and Credit Card Management. Partnerships such as these are vital in order to accelerate developments and maximise the Zwipe Pay ONE opportunity. I refer to this as “the Megaphone effect”.
To help quantify the business case for launching biometric payment cards for issuers and further drive the biometric payment card opportunity across the value chain, we have developed a comprehensive ROI (Return on Investment) Calculator. The calculator demonstrates the financial value of Zwipe Pay ONE to issuers and shows that, even without a card fee paid by the cardholder, Zwipe Pay ONE can deliver a $15m annual net benefit for an average US issuer with a 1 million credit card portfolio. The ROI model has been developed together with recognized external industry experts. We were delighted by the results and the reinforcement of the value that our offering can bring to card issuers. The ROI calculator is now an integral part of our value proposition to issuers to further accelerate the adoption of biometric payment cards.
All in all, I am happy to report that we continue to experience broad-based acknowledgement of Zwipe’s competitiveness and value add for the industry from all parts of the payment ecosystem.
Another significant highlight from the third quarter 2021 was the MNOK 104 investment from the prominent Swedish investor Erik Selin through a private placement of 4,000,000 new shares to further accelerate our ongoing development, commercialization and global expansion.
As previously communicated, Zwipe’s development efforts for Zwipe Pay ONE has passed almost all critical milestones and major risk points, with piloting and certification left before subsequent full commercialization and mass volumes. Together with development and manufacturing partners, we are progressing towards finalization of Zwipe Pay ONE, which will be followed by the formal certification process by our card manufacturing customers with the payment schemes. When verifying Zwipe Pay ONE, it is clear that we will have a very cost competitive offering and enable our customers to launch biometric payment cards with excellent performance resulting in a compelling user experience for cardholders. Similar to many other companies engaged in multinational development projects, the effects of COVID-19 have added complexity and extended lead times to the overall Zwipe Pay ONE development program, but I am pleased with how our organization continues to tackle and overcome challenges and is well positioned to bring a fully commercially available Zwipe Pay ONE offering to market as soon as we have completed the final steps.
Finally, I am very proud of the Zwipe organization. The passion, competence, agility, collaborativeness, responsiveness and winning culture that they live out every day is what fuels our mission and drives us forward on our path to market success, great customer satisfaction and creation of shareholder value.
Financial Update
Total revenues in Q3 2021 were 0.4 MNOK (MNOK 0.1).
Average monthly operational cash flow was MNOK -5.3 in Q3 2021 versus MNOK -4.4 in Q3 2020. The increase is a result of recruitments and higher activity in the company. During 2021, Zwipe has increased its staff in response to the increased number of customer engagements and growing demand for piloting and deployment of our payment solutions and services.
The closing cash balance at the end of Q3 2021 was MNOK 183.7 (MNOK 117.3). The development in cash balance since end of Q2 2021 (MNOK 94.9) is primarily a result of operational cash flow of MNOK -15.8 and the private placement to Erik Selin of MNOK 104 in August 2021.
As Zwipe received full forgiveness of the second PPP loan in August, Zwipe is again debt-free.
Footnote 1: The Levant region includes Lebanon, Jordan, Palestine, Egypt, Iraq, Libya, Syria, Turkey and Israel
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This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo, 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 October 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
OSLO, NORWAY and BEIRUT, LEBANON – 21 October 2021 - Zwipe is proud to announce a pilot of the new generation of biometric payment card based on Zwipe Pay ONE, with Credit Libanais, one of the largest banks in Lebanon. The bank is a principal member of Visa and Mastercard and has under its affiliation three other banks.
Across many markets globally, and especially in the Middle East and North Africa (MENA) region, Zwipe has experienced a strong and growing interest in biometric payment cards from banks and payment service providers. Biometric payment cards deliver world-class security and a completely touch-less user experience to cardholders, enabling improved loyalty and accelerated customer acquisition for the banks, creating a solid business case.
Speaking on this development, Randa Bdeir, Deputy General Manager at Credit Libanais said, “Post pandemic, we have seen a strong demand for touch-less checkout as they are safer and much more hygienic which this innovation will directly address; and that is why we have partnered with Zwipe, a global leader in biometric payment card technologies, to pilot a new generation of Biometric Payment Cards that will deliver a significantly improved user experience and security for our retail clients. We are truly proud to partner with Zwipe and be the pioneers to deploy such an important development in the entire region.”
Besides the core biometric payment card technology, Zwipe will also support Credit Libanais through all pilot stages, ensuring that all end users’ experiences and feedback are systematically captured and their impact on business case assessed.
Ramzi Saboury, General Manager of Zwipe in the MENA Region said: “The banking sector in Lebanon is demonstrating its appetite for innovation. We are thrilled that Zwipe Pay ONE technology has been chosen and looking forward to supporting the pilot and commercial launch by Credit Libanais.”
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About Credit Libanais
Since its establishment in 1961, Credit Libanais has developed technologically - advanced services to support its business. The Bank has one of the largest networks in Lebanon including local and international outreach in Cyprus, Bahrain and a subsidiary bank in Senegal. Year after year, Credit Libanais reaffirms its commitment to conducting business with high ethical standards and sustainability in mind.
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 zwipe.com
For further information, please contact: André Løvestam, CEO, +47 991 66 135 info@zwipe.com
OSLO, NORWAY and SANTIAGO, CHILE – 19 October 2021 – IC Payment is partnering with Zwipe, a Norway-based biometric fintech, to offer biometric payment solutions in the Latin American and Caribbean markets.
IC Payment is a Fintech, expert in the development of new technologies behind different payment methods. It is based in Santiago de Chile with offices in Uruguay and Argentina as well as a solid network of partners across Latin America. IC Payment offers a complete set of payment solutions for both in person and digital environments. Highlighting its instant issuance solution for financial cards through a self-service model, called "Instant CardPoint". Allowing to issue a card instantly ready to be used without limitations of designs, brands, or customer service hours.
Speaking on this collaboration, Mr. Christian Herrera, CEO of IC Payment, said "Biometric payment cards are attracting increased interest from issuers as they deliver a much better user experience through transaction security and safety. We are delighted that our partnership with Zwipe enables us to provide the ultimate next-generation payment experience in the market. This innovation will help our partners and customers to differentiate their offerings. Making them more competitive as a result, which in turn drives further growth”.
The two organizations will now align their product delivery and initiate joint sales efforts to bring biometric cards across key markets in Latin America.
"We are thrilled that IC Payment has selected Zwipe Pay ONE to enable their issuer, processor and card bureau clients to adopt biometric payment cards. We look forward to introducing the next generation of contactless payment cards in large and high growth payment markets in Latin America and the Caribbean. IC Payment is a well-recognized brand in the card payments space in these markets, and we look forward to mutual success in this region,” said André Løvestam, CEO of Zwipe.
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About IC Payment
IC Payment was born with the mission of bringing new payment method technologies to the financial sector through innovation and security. In its nine years of operation in Latin America, IC Payment has promoted and accompanied its clients in the early adoption of new payment technologies. IC Payment's current commitment is to take the instant issuance of financial cards beyond the scope of bank branches. Expanding its hourly service, physical presence and promoting financial inclusion. IC Payment consolidated a strategic alliance with the fintech of the French group be ys, to continue strengthening its research and development in an environment of continuous advancement of innovation and sustainability.
For further information please contact Sean McRostie, CCO of IC Payment at +(56) 9 3430 0695 - smcrostie@icpayment.net
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 zwipe.com
For further information please contact André Løvestam, CEO, +47 991 66 135 info@zwipe.com
OSLO, NORWAY - 29 september 2021 – Zwipe is proud to announce that it has partnered with startup Reltime to provide a world-class security and user experience to the end-users of Reltime’s Decentralized Finance (DEFI) Ecosystem based on the Zwipe Pay ONE platform. Reltime will issue Zwipe Pay ONE-based biometric payment cards to bring the next generation contactless security and user experience to its end users.
Reltime aims to revolutionize financial services for customers and users in Europe, Japan, India, Mexico, and Brazil from Q1 2022 and then target the global market from Q3 2022.
Headquartered in Oslo, Reltime offers ready-to-deploy financial services to users who will save and secure transactions with full control and flexibility. These services include banking, cross border money transfer, lending, card payments and digital wallets for instant use. When the users check out, it converts instantly to the local currency.
Speaking on the partnership, Cornelia Stensby van der Laak, Reltime’s Chief Commercial Officer, said, “We are delighted to see such positive feedback from the market on Reltime’s DEFI Ecosystem. We already have several partner engagements from all over the world. Reltime has noted a strong interest in biometric payment cards, which deliver world-class security and convenience. Zwipe is a well-respected biometric payment technology brand, and we aim to launch the first pilots in Q1 2022, followed by commercial launches shortly after.”
More information on Reltime Biometric ID and Payment Cards can be found here.
Reltime will be the issuer of biometric payment cards, and first to launch this to a DEFI network globally. Zwipe and other partners will be working closely to ensure that the planned pilots are started from Q1 2022. Besides delivering its Zwipe Pay ONE platform, Zwipe will also support Reltime through all stages of pilots and the commercial launch of biometric payment cards.
“We are proud that a global innovator such as Reltime recognizes the value of biometric payment cards and has decided to use Zwipe as part of its next-generation financial services platform. Together we will help many telecom operators and issuers to bring significantly enhanced convenience and security in payments. We are excited about the planned pilots and launches next year,” said André Løvestam, CEO of Zwipe.
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About Reltime
Reltime is a decentralized financial ‘DEFI’ ecosystem that brings the next generation of economic and banking services to its audience worldwide. Headquartered in Oslo, it offers financial services for all users anywhere. Reltime enables its customers to start offering a broad range of services, such as banking, free cross border money transfer, lending with and without Collateral and earnings for the end-users, card payments and digital wallets. Reltime revolutionizing financial services bringing control to the end-users. Reltime has a partnership with several global financial institutions to provide seamless and secure transactions from anywhere in the world. To learn more, visit reltime.com.
For further details, please get in touch with Cornelia Stensby van der Laak, CCO, cornelia@reltime.com
About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment card components and wearables technology that enable consumers to authorize transactions with their fingerprints without compromising their privacy. 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 significant shift in payments from contactless to contact-free. To learn more, visit zwipe.com.
For further information, please contact André Løvestam, CEO, +47 991 66 135 info@zwipe.com
OSLO, NORWAY and BEIRUT, LEBANON – 29 September 2021 – Biometric fintech company, Zwipe, and Credit Card Management (CCM), one of the leading card payment service providers in Lebanon are partnering to bring Zwipe Pay ONE biometric payment cards to banks in Lebanon. Founded in 1994, CCM has grown to become a well-recognized brand in the card payments both in Lebanon and the Middle East.
CCM delivers issuing, acquiring and card personalization services to more than 25 banks. The company provides payment processing for financial institutions as well as telecom operators and it is a subsidiary of Credit Libanais, one of the largest banks in the country.
“We are always eager to bring state-of-the-art payment products that enhance customers’ experience. Zwipe Pay ONE is a disruptive (Gen3) biometric payment platform that will enable issuer clients to deliver a completely contact-free checkout experience and payment security. We are proud to partner with Zwipe,” says Johnny Torbey, Deputy General Manager at CCM.
As part of this partnership, Zwipe will support CCM in delivering Zwipe Pay ONE biometric payment cards to banks in Lebanon. Both organizations aim to help multiple banks with pilots and ultimately commercial launches.
“The collaboration with CCM further accelerates our issuer engagements and is a strategic move for Zwipe in Lebanon and MENA where innovations such as biometric payment cards are in great demand from banks, governments and citizen programs including financial inclusions and the move to cashless societies,” says Ramzi Saboury, General Manager for Zwipe for the MENA region.
For further information, please contact Mr. André Løvestam, CEO, +47 991 66 135 info@zwipe.com
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About CCM
Founded in 1994, CCM has grown to become one of the most dynamic leaders of the card industry in Lebanon and the Middle East, delivering quality service and ensuring high standards of value and security, for banks, institutions, and merchants across the country while handling the full range of card business activities: strategic planning, issuing, account processing, authorization of payments, innovation of loyalty programs and co-branding schemes in various set ups and telecommunication environments.
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 zwipe.com
OSLO, NORWAY – 27 September 2021- The share capital increase of 4,000,000 new shares in Zwipe AS, as resolved by the board meeting of the company on 30 August 2021, has today been registered in the Norwegian Register of Business Enterprises. The new share capital is NOK 3,698,268.50, and the new number of shares and votes is 36,982,685.
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About Zwipe
Zwipe is pioneering the next generation contactless payments experience, providing biometric payment card 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 zwipe.com
For more information, please contact:
Lars Kristian Solheim, CFO
+47 991 661 35
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 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 below, at 13:15 CEST on 27 September 2021.
OSLO, NORWAY – 14 September 2020 – Biometric fintech company Zwipe and Cardmatix Ltd., a leading supplier of card manufacturing equipment, are partnering to collaborate on the design, development and commercialization of equipment and modular solutions to support milling and embedding of fingerprint sensors for biometric payment card manufacturing at mass volumes.
Headquartered in Dongguan, China, Cardmatix is a leading player in the development of industrial manufacturing and testing equipment specifically for mass production of payment cards.
“We have cooperated closely with Zwipe through our sister company Silone Cardtech, and we are convinced the biometric payment card market is poised for mass-volume take-off. Our industrial solutions will make smart card manufacturers’ job of producing millions of biometric payment cards much more cost-efficient thanks to the unique insights shared by Zwipe’s technical team,” said Cardmatix CEO, Mr. John Wu.
Zwipe has a long-standing collaboration with Silone Cardtech. The Chinese market is expected to see strong payment card growth with many established stakeholders fast-tracking their capacity to support demand.
“This is an important step in preparing our supply chain and global capacity to meet future demand. Cardmatix is one of the world’s most well-established high-volume card manufacturing equipment providers and we are excited to broaden our ability to serve our customers with their strong support.” said André Løvestam, CEO of Zwipe.
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About CardMatix Ltd.
Cardmatix was established in 2002 to focus on the manufacturing of equipment for the production and testing of contact, contactless, and dual-interface smart cards for the world market. With 20 years’ experience in design, manufacturing, and marketing on smart card production related machineries, Cardmatix has been one of the leading solution providers worldwide in the card industry with durable, high speed machines engineered for easy maintenance and years of reliable service.
For more information contact: John Wu, CEO +86 0769 86855889
OSLO, NORWAY - 08 September 2020- The board of directors of Zwipe AS call for an Extraordinary General Meeting to be held on 29 September 2020 at 10:00 CET.
Please find enclosed the notice of the Extraordinary General Meeting.
Notice of attendance, in person or by proxy, shall be given no later than 28 September 2020 at 16:00 CET. Shareholders are encouraged to register via the following link 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.
The board of directors (the "Board") has proposed the following agenda:
Proposed decisions from the Board and the Nomination Committee (extracts only, please see the attachments to the notice for the full proposals)
Matter no. 4: Approval of capital increase directed against the chair of the Board
The general meeting resolved to approve the board's use of the authorization to increase the share capital to strengthen the Company's equity to issue and allocate shares to the chair of the board of directors in the board meeting on 7 September 2020.
Matter no. 5: Proposal to issue a new authorization to the Board to strengthen the Company's equity
As the Board has used the registered authorization to strengthen the Company's equity to complete the Private Placement, the Board proposes that the general meeting resolves to issue a new authorization to the board to increase the Company's equity (including to facilitate for a potential repair issue).
The board of directors is hereby granted authorization to increase the company's share capital, on one or several occasions, with up to NOK 319,065.80 (3,190,658 new shares), equivalent to 10% of the share capital after the Private Placement has been completed.
The authorization may be used to issue shares to strengthen the company's equity to the extent the board of directors considers this to be in the company's best interest at the given time.
Matter no. 6: Proposal to amend the provision in the articles of association on notice period for the general meeting
The notice period to the general meeting (ordinary and extraordinary) is 7 days, from 21 days in the company’s articles of association prior to this meeting.
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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 more information, please contact:
Lars Kristian Solheim, CFO
+47 991 661 35
This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Oslo Børs Merkur Market 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 15:20 CET on 08 September 2020.
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 – 07 September 2020 – Reference is made to the stock exchange release from Zwipe AS (“Zwipe” or the “Company”) published earlier this evening regarding a contemplated private placement.
The Company is pleased to announce that it has raised approximately NOK 96 million in gross proceeds through a private placement (the "Private Placement") of 6,381,315 new shares (the "New Shares"), at a price of NOK 15 per share. The Private Placement took place through an accelerated book building process managed by retained Arctic Securities AS and Erik Penser Bank AB (publ) as joint bookrunners (together the "Managers") after close of markets on 7 September 2020. The Offer Shares were placed to international institutional investors and existing shareholders of the Company.
The net proceeds of the Private Placement will be used to fund further development and commercialization of the Company, general operating cost and strategic investments.
André Løvestam, CEO of Zwipe said: "After completion of this private placement, Zwipe is funded through commercial launches in 2021 and beyond based on the current business plan and market assumptions. We now look forward to taking a leading role in the biometric payment space and embarking on a long journey of value creation for our customers, our shareholders and society at large.”
Jörgen Lantto, chairman of the board of directors of Zwipe (“the Board”) said: “We are humble and proud to receive overwhelming support from high quality international and Nordic institutional investors, considerably strengthening our shareholder base. In particular, the new funding will allow the company to further accelerate our commercial activities to cater for the strong demand from smart card manufacturers and card issuers for Zwipe Pay ONE, our new technology platform for biometric payment cards”.
The payment date for the Offer Shares will be on or about 10 September 2020, with delivery of the Offer Shares expected on or about 14 September 2020. The Offer Shares will be tradable following the registration of the share capital increase in the Norwegian Register of Business Enterprises expected to take place on or about 14 September 2020, and trading is expected to commence simultaneously at Merkur Market and Nasdaq First North Growth Market on or about 14 September 2020.
The completion of the Private Placement was subject to approval by the Board pursuant to an authorisation to increase the share capital given by the annual general meeting held on 14 May 2020.
Following registration of the new share capital pertaining to the Private Placement, the Company will have 31,906,576 shares outstanding, each with a par value of NOK 0.10.
Primary insider Jörgen Lantto, chairman of the Company, was allocated 333,333 shares in the Private Placement. Mr. Lantto's shareholding after completion of the rights issue will be 866,666 shares. The allocation of shares to Jörgen Lantto is subject to shareholder approval at an extraordinary general meeting.
Primary insider Energetic AS, owned by André Løvestam, CEO of Zwipe, was allocated 20,000 shares in the Private Placement. Following this transaction, André Løvestam owns 500,000 shares in the Company through Energetic AS.
Primary insider Lars Kristian Solheim, CFO of Zwipe, was allocated 20,000 shares in the Private Placement. Following this transaction, Lars Kristian Solheim owns 90,000 shares in the Company.
Primary insider Bishwajit Choudhary, EVP of Strategy and Channels of Zwipe, was allocated 20,000 shares in the Private Placement. Following this transaction, Bishwajit Choudhary owns 25,500 shares in the Company.
Primary insider Dr. Robert Mueller, CTO of Zwipe, was allocated 20,000 shares in the Private Placement. Following this transaction, Dr. Robert Mueller owns 48,572 shares in the Company.
Primary insider Eric Mercer, CEO of Zwipe America Inc., was allocated 5,500 shares in the Private Placement. Following this transaction, Eric Mercer owns 5 500 shares in the Company.
The Board will shortly call for an extraordinary general meeting, to be held on or about 29 September 2020 (“the EGM”), which will be requested, inter alia, to make a new authorisation to the Board to issue shares to strengthen the Company's equity. Provided that the EGM provides the authorisation, it is the Board's intention to use this to carry out a subsequent offering of up to NOK 15 million / 1,000,000 shares towards shareholders of the Company as of 7 September 2020 (as registered in the VPS and Euroclear Sweden AB) who (i) were not allocated Offer Shares in the Private Placement, and (ii) are not resident in a jurisdiction where such offering would be unlawful, or would (in jurisdictions other than Norway and Sweden) require any prospectus, filing, registration or similar action. Such shareholders will be granted non-transferable subscription rights to subscribe for, and, upon subscription, be allocated new shares. One subscription right will entitle the holder to subscribe for one share in the Subsequent Offering. Oversubscription and subscription without rights will be allowed. The subscription price in the Subsequent Offering will be the same as the subscription price in the Private Placement. The Subsequent Offering will, if approved, commence after a prospectus describing the Subsequent Offering has been approved by the Financial Supervisory Authority of Norway. The Board may at its discretion decide not to proceed with the Subsequent Offering.
The Board has considered the offering of new shares in Private Placement in light of the equal treatment obligations under the Continuing obligations of companies admitted to trading on Merkur Market and Oslo Børs' Circular no. 2/2014, and is of the opinion that the contemplated transaction is in compliance with these requirements. The Board of Directors concluded that the waiver of the preferential rights inherent in a private placement was considered necessary in the interest of time and successful completion of the share issue. The Private Placement will allow the Company to raise capital faster, with a lower discount and with significantly lower transaction costs than what a rights issue would entail, and it will also allow for the Company to strengthen its shareholder base to the benefit of the shareholders and the Company. On this basis, and based on an assessment of the current equity markets, the Board has considered the Private Placement to be in the common interest of the Company and its shareholders. As a consequence of the Private Placement structure, the shareholders' preferential rights will be deviated from.
Advokatfirmaet Simonsen Vogt Wiig AS is acting as legal advisor to Zwipe with respect to Norwegian law, White & Case Advokat AB and Kanter Advokatbyrå KB are acting as legal advisor with respect to Swedish law.
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 Continuing obligations of companies admitted to trading on Oslo Børs Merkur Market, 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) 8 528 00 399. The information was submitted for publication, through the agency of the contact person set out above, at 23:50 CET on 7 September 2020.
###
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.
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 – 07 September 2020 – Zwipe AS (“Zwipe” or the “Company”) has retained Arctic Securities AS and Erik Penser Bank AB (publ) as joint bookrunners (the "Managers") to advise on and effect a private placement of up to 6,381,315 new shares (the “Offer Shares”) equal to 25% of the outstanding shares in the Company, directed towards Norwegian and international investors, in each case subject to and in compliance with applicable exemptions from relevant registration, filing and prospectus requirements, and subject to other applicable selling restrictions (the "Private Placement"). The Managers have prior to launch received indications of demand covering the transaction size.
Jörgen Lantto, chair of the Company’s Board of directors (“the Board”), has committed to subscribe for new shares in the Private Placement for a subscription amount of NOK 5 million, subject to approval by an extraordinary general meeting in the Company to be convened shortly after allocation of the Private Placement (the "EGM").
André Løvestam, CEO, Lars Kristian Solheim, CFO, Bishwajit Choudhary, EVP of Strategy and Channels, and Dr. Robert Mueller, CTO, have all committed to subscribe for 20 000 new shares each in the Private Placement. Eric Mercer, CEO of Zwipe America Inc, has committed to subscribe for 5 500 new shares in the Private Placement.
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 2021 and beyond based on the current business plan and market assumptions.
The subscription price and number of Offer Shares to be issued in the Private Placement will be determined by the Board following an accelerated book building process. The minimum application and allocation amount have been set to the NOK equivalent of EUR 100,000. The Company may however, at its sole discretion, allocate an amount below EUR 100,000 to the extent applicable exemptions from the prospectus requirement pursuant to the EU Prospectus Regulation (as implemented in Norway by the Norwegian Securities Trading Act and through similar legislation in other EEA states) are available.
The book building period for the Private Placement commences today at 17:30 CEST and closes 7 September 2020 at 21:00 CEST. The Managers and the Company may, however, at any time resolve to close or extend the book building period, or cancel the Private Placement, at their sole discretion and on short notice. If the book building period is shortened or extended, any other dates referred to herein may be amended accordingly. Allocation of the Offer Shares will be determined at the end of the book building period, and the final allocation will be made by the Board at its sole discretion, following advice from the Managers. Notice of allocation of Offer Shares is expected to be sent to the investors on or about 8 September 2020.
The payment date for the Offer Shares will be on or about 10 September 2020, with delivery of the Offer Shares expected on or about 14 September 2020. The Offer Shares will be tradable following the registration of the share capital increase in the Norwegian Register of Business Enterprises expected to take place on or about 14 September 2020, and trading is expected to commence simultaneously at Merkur Market and Nasdaq First North Growth Market on or about 14 September 2020.
The completion of the Private Placement is subject to approval by the Board of the Company pursuant to an authorization to increase the share capital given by the annual general meeting held on 14 May 2020.
The Board has considered the offering of new shares in Private Placement in light of the equal treatment obligations under the Continuing obligations of companies admitted to trading on Merkur Market and Oslo Børs' Circular no. 2/2014, and is of the opinion that the contemplated transaction is in compliance with these requirements. The Board of Directors concluded that the waiver of the preferential rights inherent in a private placement was considered necessary in the interest of time and successful completion of the share issue. The Private Placement will allow the Company to raise capital faster, with a lower discount and with significantly lower transaction costs than what a rights issue would entail, and it will also allow for the Company to broaden its shareholder base to the benefit of the shareholders and the Company. On this basis, and based on an assessment of the current equity markets, the Board has considered the Private Placement to be in the common interest of the Company and its shareholders. As a consequence of the Private Placement structure, the shareholders' preferential rights will be deviated from.
The Private Placement is directed towards investors subject to applicable exemptions 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 Offer Shares for investment purposes for its own account, or pursuant to another exemption from the registration requirements of the US Securities Act.
The Board will consider to carry out a subsequent offering of new shares in the Company (the “Subsequent Offering”) which, subject to applicable securities laws, will be directed towards existing shareholders in the Company as of 7 September 2020 (as registered in the VPS and Euroclear Sweden AB on 9 September 2020) who (i) were not allocated Offer Shares in the Private Placement, and (ii) are not resident in a jurisdiction where such offering would be unlawful, or would (in jurisdictions other than Norway and Sweden) require any prospectus, filing, registration or similar action. The subscription price in a potential Subsequent Offering will be equal to the subscription price in the Private Placement.
Existing shareholders that participate in the Private Placement will irrevocably undertake to vote for their shares in favor of the resolution(s) proposed at the EGM to issue shares to Jörgen Lantto and the potential Subsequent Offering.
Advokatfirmaet Simonsen Vogt Wiig AS is acting as legal advisor to Zwipe with respect to Norwegian law, and White & Case Advokat AB and Kanter Advokatbyrå KB are acting as legal advisors with respect to Swedish law.
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 more information 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 Continuing obligations of companies admitted to trading on Oslo Børs Merkur Market, 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 above, at 17:40 CET on 7 September 2020.
###
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 – 27 August 2020, CET 09:40 – Zwipe AS today publishes its half-year report for H1 2020.
The update is with reference to the EU Market Abuse Regulations
Highlights for first half-year 2020 include:
Financials
Second Quarter
First Half Year
Significant events during the period
Significant actions after the period
CEO comment
The first half of 2020 has been very productive, and a period marked by progress and major achievements for Zwipe. At a time when the public is particularly attuned to the benefits of social distancing, the payment ecosystem has increasingly embraced the need for secure, contactless payment technologies. COVID-19 has been a game-changer for market acceptance of the need for truly touchless payment solutions such as those offered by Zwipe.
The year began with Zwipe successfully listing on Nasdaq’s First North Growth Market in Sweden, boosting liquidity and investor awareness through access to a broader investor community.
We continued building our end-to-end ecosystem, expanding our customer network globally, forging several new strategic technical partnerships, securing important orders and extending exclusive partnerships. All of this while continuing to make progress on our previously announced key projects, Zwipe Pay ONE with IDEMIA and IDEX, and the wearables project with Giesecke+Devrient (G+D).
The ongoing COVID-19 pandemic has elevated the focus on safety and significantly increased the growth of contactless transactions. This, in turn has led to raised contactless transaction limits all over the world and has served to highlight the improved hygiene and safety benefits of biometric payments. During 2020, the first announcements of upcoming small-scale commercial launches of biometric payment cards to consumers have been made, proving that the industry is ready to start serving a mass market.
We believe we hold the key to the next step of broad-scale, high-volume adoption of biometric payment cards through our cooperation with IDEMIA on Zwipe Pay ONE, which will reduce manufacturing cost for biometric payment cards to a level that enables card issuers to start mass-volume deployment.
Consequently, we are doubling down our efforts to serve the market, with immediate results. As previously announced, we have an ongoing dialogue with more than 40 out of the world’s top 50 smart card manufacturers. During H1 2020 we have seen very good progress in our sales pipeline. We have announced that five new smart card manufacturers have decided to adopt Zwipe Pay ONE once it is available for early sampling, planned for later in 2020, and our prospect list and pipeline are continuously increasing. These are the clearest indications of demand for our solutions.
During the period we also began to engage directly with issuers and banks. Early insights suggest that a sizable number of consumers are willing to pay a meaningful monthly fee for biometric payment cards. We have been able to initiate fruitful engagements with multiple banks on how to profitably deploy biometric payment cards to consumers in large scale. This has strongly resonated across the payments and cards ecosystem, creating a wave of interest in what we uniquely offer to the marketplace.
Zwipe builds its competitive position on combining cost and performance leadership with our value-adding trusted advisor/systems integrator role. This combination is the cornerstone in Zwipe’s ambitions towards mass market deployments of Biometric Payment Cards and wearables.
In the second half of 2019 we streamlined costs and lasered in on core processes to achieve mass-volume market readiness for Zwipe. Our progress in recent months is proof that we are on the right path. Our technology partnership with IDEMIA has secured Zwipe world-wide, exclusive ownership to a disruptive technology platform with superior energy efficiency and excellent biometric performance, positioning Zwipe for cost- and technology leadership.
Leveraging the deep systems know-how of our organization, we are also teaming up with other component suppliers and manufacturing partners to further simplify adoption and reduce the total cost of Zwipe Pay ONE. I am excited by the results of these efforts, which secure our ability to meet the aggressive cost targets we have set for Zwipe Pay ONE. We remain on track with regards to the development of Zwipe Pay ONE, having met all significant milestones during the period. We are confident that our cost leadership strategy is enabling us to bring a very compelling offering to our customers, while laying the foundation for a sound long-term business and value creation for Zwipe as the market matures.
Thanks to the experience gained from being fully dedicated to Biometric Payment Cards from the outset, we are a trusted advisor to smart card manufacturers and card issuers, advising them on what is needed to launch Biometric Payment Cards including user experience and customer onboarding.
This comprehensive approach makes Zwipe stand-out in the crowd. Zwipe’s uniqueness is in the combination of our know-how, network, patents and technology. We make the entire process of evaluating, building, integrating, and deploying a biometric payment solution simple. We provide the components and build the inlays necessary for the smart card manufacturers. We are building an ecosystem of partners to enable card manufacturers and issuers a frictionless route to launching Biometric Payment Cards. This cooperative approach is central to supporting the growth of the overall Biometric Payment Card market, but also key to cementing Zwipe’s position and role. By giving banks and issuers, alongside our smart card manufacturing partners, a one-stop shop for the most cost effective and compelling route to launching an innovative, rapidly deployable contactless payment solution, we are building a commercial path that creates sustainable long-term value for our customers.
Cardholders and consumers around the world are demanding greater safety and security when paying for goods, and they want convenience too, which is the background for our mission of “making convenience safe and secure”. I am confident that we are on track to deliver on our mission and fulfil our pivotal role in supporting our many communities tackle the risks posed by COVID-19 at the point of sale.
###
This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Oslo Børs Merkur Market and 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 09:40 CET on 27 August 2020.
OSLO, NORWAY – 27 August 2020, CET 08:00 – Zwipe AS today publishes its half-year report for H1 2020.
Highlights for first half-year 2020 include:
Financials
Second Quarter
First Half Year
Significant events during the period
Significant actions after the period
CEO comment
The first half of 2020 has been very productive, and a period marked by progress and major achievements for Zwipe. At a time when the public is particularly attuned to the benefits of social distancing, the payment ecosystem has increasingly embraced the need for secure, contactless payment technologies. COVID-19 has been a game-changer for market acceptance of the need for truly touchless payment solutions such as those offered by Zwipe.
The year began with Zwipe successfully listing on Nasdaq’s First North Growth Market in Sweden, boosting liquidity and investor awareness through access to a broader investor community.
We continued building our end-to-end ecosystem, expanding our customer network globally, forging several new strategic technical partnerships, securing important orders and extending exclusive partnerships. All of this while continuing to make progress on our previously announced key projects, Zwipe Pay ONE with IDEMIA and IDEX, and the wearables project with Giesecke+Devrient (G+D).
The ongoing COVID-19 pandemic has elevated the focus on safety and significantly increased the growth of contactless transactions. This, in turn has led to raised contactless transaction limits all over the world and has served to highlight the improved hygiene and safety benefits of biometric payments. During 2020, the first announcements of upcoming small-scale commercial launches of biometric payment cards to consumers have been made, proving that the industry is ready to start serving a mass market.
We believe we hold the key to the next step of broad-scale, high-volume adoption of biometric payment cards through our cooperation with IDEMIA on Zwipe Pay ONE, which will reduce manufacturing cost for biometric payment cards to a level that enables card issuers to start mass-volume deployment.
Consequently, we are doubling down our efforts to serve the market, with immediate results. As previously announced, we have an ongoing dialogue with more than 40 out of the world’s top 50 smart card manufacturers. During H1 2020 we have seen very good progress in our sales pipeline. We have announced that five new smart card manufacturers have decided to adopt Zwipe Pay ONE once it is available for early sampling, planned for later in 2020, and our prospect list and pipeline are continuously increasing. These are the clearest indications of demand for our solutions.
During the period we also began to engage directly with issuers and banks. Early insights suggest that a sizable number of consumers are willing to pay a meaningful monthly fee for biometric payment cards. We have been able to initiate fruitful engagements with multiple banks on how to profitably deploy biometric payment cards to consumers in large scale. This has strongly resonated across the payments and cards ecosystem, creating a wave of interest in what we uniquely offer to the marketplace.
Zwipe builds its competitive position on combining cost and performance leadership with our value-adding trusted advisor/systems integrator role. This combination is the cornerstone in Zwipe’s ambitions towards mass market deployments of Biometric Payment Cards and wearables.
In the second half of 2019 we streamlined costs and lasered in on core processes to achieve mass-volume market readiness for Zwipe. Our progress in recent months is proof that we are on the right path. Our technology partnership with IDEMIA has secured Zwipe world-wide, exclusive ownership to a disruptive technology platform with superior energy efficiency and excellent biometric performance, positioning Zwipe for cost- and technology leadership.
Leveraging the deep systems know-how of our organization, we are also teaming up with other component suppliers and manufacturing partners to further simplify adoption and reduce the total cost of Zwipe Pay ONE. I am excited by the results of these efforts, which secure our ability to meet the aggressive cost targets we have set for Zwipe Pay ONE. We remain on track with regards to the development of Zwipe Pay ONE, having met all significant milestones during the period. We are confident that our cost leadership strategy is enabling us to bring a very compelling offering to our customers, while laying the foundation for a sound long-term business and value creation for Zwipe as the market matures.
Thanks to the experience gained from being fully dedicated to Biometric Payment Cards from the outset, we are a trusted advisor to smart card manufacturers and card issuers, advising them on what is needed to launch Biometric Payment Cards including user experience and customer onboarding.
This comprehensive approach makes Zwipe stand-out in the crowd. Zwipe’s uniqueness is in the combination of our know-how, network, patents and technology. We make the entire process of evaluating, building, integrating, and deploying a biometric payment solution simple. We provide the components and build the inlays necessary for the smart card manufacturers. We are building an ecosystem of partners to enable card manufacturers and issuers a frictionless route to launching Biometric Payment Cards. This cooperative approach is central to supporting the growth of the overall Biometric Payment Card market, but also key to cementing Zwipe’s position and role. By giving banks and issuers, alongside our smart card manufacturing partners, a one-stop shop for the most cost effective and compelling route to launching an innovative, rapidly deployable contactless payment solution, we are building a commercial path that creates sustainable long-term value for our customers.
Cardholders and consumers around the world are demanding greater safety and security when paying for goods, and they want convenience too, which is the background for our mission of “making convenience safe and secure”. I am confident that we are on track to deliver on our mission and fulfil our pivotal role in supporting our many communities tackle the risks posed by COVID-19 at the point of sale.
###
This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Oslo Børs Merkur Market 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 08:00 CET on 27 August 2020.
OSLO, NORWAY– August 20th, 2020 – Biometric fintech company Zwipe and Wisecard Technology, a leading supplier of EMV personalization and payment solutions, have partnered to support the industrialization of biometric payments solutions.
Headquartered in Shenzhen, China, Wisecard Technology Ltd. specializes in personalization software development, primarily focusing on the smart card payment industry. As a leading provider of EMV personalization services, the company will support the co-development of personalization offerings for the Zwipe Pay family of products and solutions.
“We are excited to work closely with Zwipe to tap into the huge potential we see for biometrics in the payments market. Zwipe has led the way in establishing a global network of partners to make the launch of biometric payment cards and wearables at scale as effortless and cost-effective as possible. We are keen to support this mission and bring safer and more secure payment options to consumers around the world,” says, Kevin Yi, Vice President at Wisecard.
Smart card manufacturers will benefit from the collaboration by having access to a validated and proven personalization process for their biometric payment cards powered by Zwipe technology.
Speaking on the partnership André Løvestam, CEO of Zwipe, says “We are excited to partner with Wisecard as we continue to expand our ecosystem and our capacity to provide the most comprehensive and compelling offerings within biometric payments to smart card manufacturers and issuers, further cementing the value-add we bring to our customers.”
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About Wisecard Technology
Wisecard Technology Co , Ltd. is a solution provider for smart card issuance and innovative payment platforms with more cost effective and user friendly features. Wisecard has invested heavily on technological innovation and product development. This has resulted in the creation of leading solutions in the area of Card Management and Personalization, payment systems, which have been compliant with the regulations from international payment schemes. Wisecard has always had a strong customer service focus and built leading edge professional services organization, delivering high class product and process support around the world. After a decade of providing cost-effective, innovative and vendor independent solutions that enable customers to improve their operational processes, Wisecard has successfully deployed solutions in more than 60 countries throughout Europe, Africa, Middle East, Southeast Asia and South America.
To learn more, please visit www.wisecardtech.com
For more information contact: Kevin Yi, Vice President, + 86 755 86007346 sales@wisecardtech.com
OSLO, NORWAY– 18 August 2020 – Biometric fintech company Zwipe and Smart Technology Services (STS), one of the world’s first equipment manufacturers to develop a biometric payment card milling and embedding enabled system, have expanded their previously announced partnership to support the industrialization of dual interface biometric payment cards using Zwipe Pay ONE platform.
Headquartered in France, STS is a leading player in the development of industrial manufacturing equipment specifically for the production and personalization of smart cards. The two companies have jointly developed integrated solutions that will enable Smart Card Manufacturers (SCMs) to achieve a risk-free and agile industrialization of biometric payment cards.
“Zwipe has been one of the leaders in the development of biometric payment platforms while we have developed manufacturing processes to enable SCMs to successfully reach a true volume offer capability for such cards. We have worked very closely together over the last year to fine-tune our complementary offering in order to support smart card manufacturers as they adopt and begin to roll out cards based on the Zwipe Pay ONE platform,” said Thierry Buisson, CEO of STS, speaking on the ramping up of activities.
“Our expanded partnership with STS has mitigated project risks and reduced the capital expenditure needed to enable the production of biometric payment cards. This will further strengthen our respective positions in the market and accelerate the adoption of biometric payment cards,” said André Løvestam, CEO of Zwipe.
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About Smart Technology Services
Founded in 2013 in France, Smart Technology Services provides high level support services and card personalization solutions to card manufacturers and bureaus worldwide. The company provides services support activities for card central issuance systems and secondhand systems It also supplies the Smart Evol 1000 – a fully modular mid-range card personalization system, and the SI20 and SI700 – versatile card production systems for contact, dual interface, and biometric cards.
Please visit http://stservices.fr for further information
OSLO, NORWAY– 28 JULY 2020 – Biometric fintech company Zwipe and Liveo Research, a major supplier of PVC materials to some of the world’s largest card manufacturers, have partnered to offer a highly optimized route to efficient and scalable manufacturing of biometric payment cards. This is key in supporting the ongoing industrialization of the Zwipe Pay family of products.
Liveo Research is a global manufacturer of rigid packaging solutions focusing on pharma packaging innovations, specialty films and card solutions. With around 1,100 employees across five locations worldwide, Liveo is generating annual sales of more than 350 million euros.
“We are excited to collaborate with Zwipe, a pioneer in the field of biometric payment cards, to promote and roll out the Zwipe Pay ONE platform that will radically reduce the cost and complexity associated with card production process”, says Managing Director at Liveo Research, Mr. Pietro Parmeggiani.
Speaking on the partnership André Løvestam, CEO of Zwipe says, “This showcases how Zwipe is leveraging the payment ecosystem’s key players to enable best-in-class solutions and grow the biometric payment card segment. Liveo Research is a strong stakeholder and working together we will be able to further strengthen the value proposition to smart card manufacturers.”
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About Liveo Research
Since 1953 Liveo Research’s Castiglione facility has been at the forefront of technological innovation in vinyl calendaring. Decades of commitment to manufacturing quality and enhanced rigid films properties has given Liveo’s card manufacturers the extra edge to easily move into new niche market with even newer technological requirement. Today, Liveo’s SICO films are sought after for high quality secure payment cards, e-government, IoT SIM/GSM, M2M, access controls cards, where they withstand daily handling while maintaining a pristine appearance and data integrity. Liveo Research SICO films are available globally with two primary manufacturing sites, Castiglione, Italy, where it all began and, Delaware City, DE, USA. To learn more, visit www.liveoresearch.com
For more information contact: cs.eu@liveo-research.com
