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:
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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”.
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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”.
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This is information that Zwipe AS is obliged to make public pursuant to the Continuing obligations of companies admitted to trading on Euronext Growth Market Oslo, Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, Info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 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.
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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.
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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 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.
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This is information that Zwipe AS is obliged to make public pursuant to the Continuing obligations of companies admitted to trading on Euronext Growth Market Oslo, Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, Info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 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.
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This is information that Zwipe AS is obliged to make public pursuant to the Continuing obligations of companies admitted to trading on Euronext Growth Market Oslo, Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 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 – 23 July 2021 – As Zwipe continues to expand its relationship with smartcard manufacturers around the world, we are pleased to announce that a Global Tier 1 smartcard manufacturer has taken delivery of Zwipe Pay ONE components to evaluate inhouse manufacturing of biometric payment cards using Zwipe’s latest technology. Zwipe is a biometric fintech pioneering next generation contactless payment globally.
Zwipe Pay ONE is the world’s first single silicon based biometric payment platform offered to card manufacturers globally. It provides best in class biometric performance and energy efficiency at highly competitive prices. By enabling standard production processes and significantly lowering yield losses, it is designed to be mass market ready, delivering a significant improvement in both the consumer experience and the commercial benefits. Recent consumer studies demonstrate a very positive return on investment for this product enabling a strong business case for manufacturers and issuers to adopt it. Zwipe Pay ONE has delivered on its original design goals and offers significant opportunities across the payments value chain.
“As organisations around the world adapt to the increasing demands of their customers, we are seeing smartcard manufacturers gearing up to be able to supply this latest generation of biometric payment cards. This new initiative by one of the world's largest manufacturers signifies a key development for Zwipe as we move towards our new payment technology becoming a mainstream proposition for issuers and cardholders,” added André Løvestam, CEO of Zwipe.
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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 and CORPS, FRANCE – 21 November 2024 – OSE, one of France’s well known PCB assembly services provider, has chosen Zwipe to deploy Zwipe Access biometric access cards across their operations. This collaboration marks a significant milestone in delivering enhanced security to high-security environments.
OSE, headquartered in Corps, France, is known for its expertise in electronic board prototyping, testing, and lean manufacturing practices that emphasize quality and reliability. With a strong focus on innovative and flexible solutions, OSE has consistently positioned itself as a leader in the industry.
Caroline Guerin, OSE General Manager, commented on the partnership, saying, “Our commitment to protect our customers’ intellectual property aligns perfectly with Zwipe’s advanced biometric technology. The deployment of Zwipe Access cards on our premises allows us to provide a solution that ensures seamless integration and robust security for high-security environments.”
Zwipe Access cards offer a high level of security by conducting all fingerprint capture, extraction, and matching directly on the card. This ensures that sensitive biometric data never leaves the card, thereby providing optimal data privacy and security for users.
According to Robert Puskaric, President and CEO of Zwipe, “Innovation in security is paramount, especially in today’s fast-evolving landscape. With OSE as our partner, we are proud to support the deployment of Zwipe Access cards in France, reinforcing our commitment to delivering an additional layer of security in critical environments.”
About OSE
The company OSE, located in Corps en Isère (France), specializes in electronic boards from prototypes, pre-series and series industrializations to end and finished product. Its corporate culture promotes the development of the know-how of its employees in order to achieve a common objective: customer satisfaction. Our company has more than 130 employees, it is located in a 3000 m² building and controls all manufacturing processes (from the simplest to the most complex
To know more, visit www.ose.fr
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card technology for payment, physical and logical access control as well as identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway with a global presence.
To learn more, visit www.zwipe.com
OSLO, NORWAY – 19 NOVEMBER 2024 - Reference is made to the stock exchange announcement published by Zwipe AS (the "Company" or "Zwipe") earlier on 7 November 2024, regarding a contemplated rights issue in the Company, raising gross proceeds of approximately NOK 40 million (the "Rights Issue"). In relation thereto, the Board of Directors of Zwipe (the "Board") calls for an Extraordinary General Meeting (the "EGM") to be held on 3 December 2024 at 10:00 (CET). The general meeting will be held as a virtual meeting on Microsoft Teams.
Please find attached the notice to the EGM. The notice is also available on the Company's website, https://zwipe.com/investors.
The deadline for registration of attendance, proxies and advance voting for direct shareholders is 2 December 2024 at 16:00 hours (CET). Holders of nominee registered shares must register attendance, proxies and advance voting no later than within 29 November 2024 at 16:00 hours (CET). Shareholders are encouraged to register their notice of attendance and proxies via the link found here: https://zwipe.com/investors/general-meetings.
Alternatively, the attached notice of attendance and proxy forms may be sent by e-mail to genf@dnb.no, or by regular post to DNB Bank ASA, Registrar's Department, P.O.Box 1600 Sentrum, 0021 Oslo, Norway.
Shareholders who have not registered participation digitally, must also send an e-mail to ir@zwipe.com and will, thereafter, receive a link to the Teams meeting for the General Meeting.
The Board has proposed the following agenda:
1. Opening of the general meeting (non-voting)
2. Registration of attending shareholders and proxies (non-voting)
3. Election of Chair of the meeting and one person to co-sign the minutes.
4. Approval of the notice and the agenda
5. Rights issue
6. Board authorization to issue convertible loan
7. Issue of Warrants
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com
OSLO, NORWAY – 7 NOVEMBER 2024 - The board of directors (the "Board") of Zwipe AS ("Zwipe" or the "Company") has today, on 7 November 2024, resolved to propose that the Company carries out a new issue of units, consisting of shares and warrants, with preferential rights for existing shareholders raising gross proceeds of approximately NOK 39.7 million (the "Rights Issue"). The Rights Issue requires approval by the extraordinary general meeting of the Company expected to be held on 3 December 2024 (the "EGM") to be implemented. The notice of the EGM will be published in a separate press release.
Background and reason for the Rights Issue
Zwipe is a Norwegian biometric authentication technology company established in 2009, focused on developing and commercializing secure, fast, and easy-to-use biometric authentication solutions with broad applications across key verticals such as payments and access control.
Since the beginning of 2024, Zwipe has focused exclusively on Zwipe Access and continues to make considerable progress building their network of sales partners and establishing Zwipe as one of the leading solutions for biometric access control. Several major enterprises are currently evaluating Zwipes access control cards for potential deployment to enhance general security in their facilities and offices.
The Rights Issue is carried out in order to strengthen the Company's financial
position and to accelerate the commercialization of Zwipe’s biometric cards within access control. Zwipe has made substantial progress within the access control market, which the Company anticipates will translate to meaningful commercial traction and revenue in the coming quarters. With the company operating in a very cost-efficient manner, proceeds from the rights issue alongside available cash and possible additional cost saving measures are expected to support the Company throughout 2025 and in its transition to a phase of sustainable, long-term commercial success.
Key terms of the Rights Issue
The Board has today resolved to propose that the EGM resolves on the Rights Issue of 99,303,344 transferable subscription rights (the "Subscription Rights") with preferential rights for existing shareholders, whereby one Subscription Right gives the right to subscribe for four (4) units ("Unit"). Each Unit consists of (i) a new share in the Company, each with a nominal value of NOK 0.10, and (ii) a warrant of series T02 (the "Warrants") for a subscription price of NOK 0.10 per Unit. One Warrant give the right to subscribe for one ordinary share in the Company during the period beginning on 3 March 2025 and ending on 14 March 2025. The subscription price in the Rights Issue is NOK 0.10 per Unit on Euronext Growth Oslo and SEK 0.10 per Unit on Nasdaq First North Growth Market Sweden. The subscription price per share corresponds to the subscription price per Unit. Thus, the Warrants are issued free of charge. Upon full subscription, the Company will initially receive approximately NOK 39.7 million in gross proceeds. If Warrants are exercised, the Company will receive additional proceeds in March 2025.
The shareholders of the Company on 3 December 2024 (and being registered as such in the Norwegian Central Securities Depository, Euronext Securities Oslo, (the "VPS") as at the expiry of 5 December 2024 (the "Record Date") will be granted one (1) Subscription Right for each share registered as held by the shareholder as of the Record Date. One (1) Subscription Right is required to subscribe for four (4) Units. Each Unit consists of one (1) new share and one (1) Warrant.
Subscription of Units with or without preferential rights shall take place during the period beginning on 6 December 2024 and ending on 20 December 2024. Subscription Rights that are not exercised during the subscription period become invalid and lose their value. Trading in Subscription Rights takes place on Nasdaq First North Growth Market and Euronext Growth Oslo during the period beginning on 6 December 2024 and ending on 16 December 2024.
Pursuant to Section 10-4 of the Norwegian Private Limited Companies Act, the shareholders of the Company at the day of the EGM (as registered in the Company's shareholder register in VPS two trading days thereafter (the "EGM Record Date")), and who are not resident in a jurisdiction where such offering would be unlawful or, would (in jurisdictions other than Norway) require any prospectus, filing, registration or similar action, will be granted a preferential right to subscribe for and be allocated the new shares in proportion to the number of shares in the Company they own as of the EGM Record Date (the "Existing Shareholding"), and will receive Subscription Rights proportionate to their Existing Shareholding. The Company expects to apply for admission to trading of the Subscription Rights on Euronext Growth Oslo and Nasdaq First North Growth Market Stockholm.
Units will be allocated in the Rights Issue in accordance with the following criteria:
a) Allocation of Units shall be made according to granted or acquired transferable subscription rights which have been validly exercised during the subscription period.
b) Units not allocated pursuant to a) above, will be allocated to subscribers who have exercised their transferable subscription rights and oversubscribed. These subscribers will be allocated additional Units based on the amount of transferable subscription rights exercised by each subscriber. To the extent that pro rata allocation is not possible, the Company will determine the allocation by drawing lots.
One (1) Warrant entitles, during the period beginning on 3 March 2025 and ending on 14 March 2025, to subscription of one (1) new share in Zwipe at an exercise price of NOK 0.10.
There will from and including 7 November 2024 temporarily be imposed a block for repositioning of trading in the shares in the Company between Euronext Securities Oslo (VPS) and Euroclear Sweden AB until and including the Record Date. Full terms and conditions for the Rights Issue as well as other information about the Company will be described in the EU Growth Prospectus, which is expected to be published on or around 5 December 2024.
Robert Puskaric, CEO of Zwipe comments:
"Zwipe continues to see strong interest in bringing biometric access control cards to market globally. We feel confident that a number of the engagements and opportunities our partners are working with us on will result in commercial and operational deployments in a very short timeframe. The proceeds from the Rights Issue will give us more financial flexibility and enable us to execute on our commercial objectives for Zwipe Access. We are operating in an efficient and agile manner and proceeds from the Rights Issue should support us in achieving significant commercial traction and positioning the company for sustainable, profitable growth."
Change in share capital, number of shares and dilution
Based on the outstanding number of shares as of today, the share capital in the Company increases through the Rights Issue by a maximum of NOK 39,721,337.60, from NOK 9,930,334.40 to NOK 49,651,672.00, through the issuance of a maximum of 397,213,376 shares. The number of shares increases from 99,303,344 to a maximum of 496,516,720 shares. For existing shareholders who do not participate in the Rights Issue, this implies a dilution effect of 80.0 percent in the case of full subscription.
In the event that all outstanding Warrants issued in the Rights Issue are fully exercised for the subscription of new shares in Zwipe, the number of shares will increase by an additional 397,213,376 to a total of 893,730,096 shares and the share capital will increase by NOK 39,721,337.60 to a total of NOK 893,730,009.6.
Extraordinary general meeting
The Rights Issue requires the approval by the EGM expected to be held on [3 December] 2024 to be implemented. The notice of the EGM will be published in a separate press release.
Advisor
Zwipe has engaged Bergs Securities AB and Advokatfirmaet Schjødt AS as financial and legal advisors respectively in connection with the Rights Issue.
For further information contact:
Robert Puskaric, CEO of Zwipe
E-mail: ir@zwipe.com
This information is subject to the disclosure requirements in the Market Abuse
Regulation (EU 596/2014) and the Norwegian Securities Trading Act section 5-12,
and is information that Zwipe AS is obligated to make public pursuant to the
continuing obligations of companies admitted to trading on Euronext Growth Oslo
(Euronext Growth Oslo Rule Book - Part II) and on Nasdaq First North Growth
Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se.
The information was submitted for publication, through the agency of the contact
person set out below, at the date and time provided.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer
future. We work with great passion across networks of international
organizations, industries and cultures to make convenience safe and secure. We
are pioneering next-generation biometric card and wearables technology for
payment and physical & logical access control and identification solutions. We
promise our customers and partners deep insight and frictionless solutions,
ensuring a seamless user experience with our innovative biometric products and
services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit http://www.zwipe.com
Important information
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus will be prepared by the Company and published on the Company's website after the prospectus has been reviewed and approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen).
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Belarus, Hong Kong, Japan, Canada, New Zealand, Russia, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Offers to the public will be permitted in Sweden and Norway from and including the date of approval of the prospectus by the competent authority in Sweden and the competent authority in Norway has been notified in accordance with the Prospectus Regulation, through to and including the end of the subscription period in the Rights Issue.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.
OSLO, NORWAY, and WETZIKON, SWITZERLAND – 14th October 2024 – As part of the official launch of LEGIC neon on card Zwipe and LEGIC Identsystems are excited to announce the introduction of biometric cardholder verification on Zwipe Access for LEGIC-based access control systems. This enhancement, now available commercially, integrates Zwipe’s industry-leading biometric technology into the latest version of LEGIC’s neon application.
With LEGIC neon on card, organizations can now deploy smartcard-based access solutions that incorporate fingerprint authentication. This new feature ensures that Zwipe Access releases credentials only after successful on-card fingerprint verification, adding an extra layer of security while maintaining a seamless experience for users.
For end users, the process is simple and secure: by placing a finger on the card’s built-in sensor, the cardholder can easily unlock the credentials needed to gain access via an NFC reader. This eliminates the need for PINs or passwords, streamlining access control without compromising safety.
"We are delighted to bring multi-factor authentication to LEGIC neon-based cards," said Christoph Beckenbauer, General Manager at LEGIC Identsystems. “This product seamlessly extends biometric verification to smartcards, which was previously only available with LEGIC neon for smartphones.”
"LEGIC neon is a uniquely secure and flexible technology." Robert Puskaric, President and CEO of Zwipe, added, "We are proud that LEGIC has chosen to partner with us, leveraging our Zwipe Access platform to enhance the security of their application."
For over 30 years, Swiss-based LEGIC Identsystems has enabled companies from around the world to deploy solutions with demanding security requirements. Based on key management, trusted services and secure, contactless semiconductors, the LEGIC Security Platform provides end-to-end security for smartphone- and smartcard-based access, mobility, shared resource and industrial IoT applications.
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card technology for payment, physical and logical access control as well as identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway with a global presence.
For more information, visit: www.zwipe.com
OSLO, NORWAY – 07-Oct-2024 – One of the prominent global leaders in the pharmaceutical industry is currently testing Zwipe Access biometric cards, in collaboration with a trusted partner, with a view to potentially deploy these innovative cards in its operations.
Zwipe AS, a pioneer in biometric technology, offers Zwipe Access cards equipped with an advanced fingerprint sensor. This technology captures the cardholder’s fingerprint securely, delivering the highest level of security and privacy available in biometric systems. By ensuring that the biometric data never leaves the card, Zwipe Access provides an unparalleled safeguard against data breaches.
The global pharmaceutical company involved in this testing is dedicated to reimagining medicine, improving, and extending lives. With the deployment of Zwipe Access cards, the company aims to enhance security across its processes and operations.
Robert Puskaric, President and CEO of Zwipe, shared his thoughts on the potential deployment and said, “Securing individual identities is critical in today’s landscape of cyber and security threats. Biometric authentication offers a highly secure, reliable method for identity verification. Since biometric characteristics are unique to each person, Zwipe Access Cards prevents the risk of unauthorized access, all while providing a seamless and intuitive user experience."
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work passionately across networks of international organizations, industries, and cultures to make convenience safe and secure. We pioneer next-generation biometric card technology for payment, physical and logical access control, as well as identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, please visit http://www.zwipe.com/
OSLO, NORWAY – 30-Sept – 2024 – Zwipe, a global pioneer and leader in biometric technology for access control, identification, and payment solutions, announces that one of the world’s top digital music streaming service providers is currently testing Zwipe’s biometric access cards. This evaluation is part of a potential deployment of Zwipe’s technology across the company.
Zwipe is listed on the stock exchanges of Oslo and Stockholm and specializes in secure, biometric authentication technology for access control, identification, and payment solutions.
The global music streaming company aims at increasing security on its premises by evaluating and potentially adopting Zwipe Access cards. These biometric cards offer enhanced protection by ensuring that sensitive credentials are kept secure and can only be activated by the legitimate cardholder.
Zwipe Access is a card-based fingerprint dual-authentication solution designed for access control, fast and easy to deploy. With fingerprint capture, extraction, and comparison taking place entirely on the card itself, the biometric data never leaves the card. This provides heightened data privacy and security for users, significantly reducing the risk of security breaches, whether in the physical or digital world.
Robert Puskaric, President and CEO of Zwipe, commented on the potential partnership, stating: “Security and privacy concerns are growing everywhere. Adopting secure and reliable access control systems is essential in protecting people and facilities. Zwipe’s biometric technology offers a secure, fast, and intuitive authentication experience for access control. We are delighted to have such a global leader as potential customer.”
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries, and cultures to make convenience safe and secure. We are pioneering next-generation biometric card technology for payment, physical and logical access control, and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com
OSLO, NORWAY – 25-September – 2024 – A leading U.S.-based social media and IT company is currently testing Zwipe Access biometric cards via their strategic technology partner, mandated to assess and implement technology globally, considering the possible deployment of this cutting-edge solution across its facilities.
Zwipe AS, a widely recognized pioneer in biometric technology, has supplied these cards as part of a collaborative effort to enhance customer’s sites security.
Zwipe is listed on the stock exchanges of Oslo and Stockholm and specializes in secure, biometric authentication technology for access control, identification, and payment solutions.
The global technology giant aims at further strengthening its security protocols by evaluating and potentially adopting Zwipe Access cards. These biometric cards offer enhanced protection by ensuring that sensitive credentials are kept secure and can only be activated by the legitimate cardholder.
Zwipe Access is a card-based fingerprint dual-authentication solution designed for access control. With fingerprint capture, extraction, and comparison taking place entirely on the card itself, the biometric data never leaves the card. This provides heightened data privacy and security for users, significantly reducing the risk of security breaches, whether in the physical or digital world.
Speaking on this potential deployment, Robert Puskaric, President and CEO of Zwipe, said, “In today’s digital age, secured identity and authentication are more important than ever. We are immensely proud for a potential partnership with such a prominent global leader in the tech industry. The Zwipe Access biometric card offers an excellent solution for enhancing security through two-factor authentication, all without requiring lengthy and costly hardware upgrades, thus providing both increased protection and significant savings in capital expenditure.”
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work passionately across networks of international organizations, industries, and cultures to make convenience safe and secure. We pioneer next-generation biometric card technology for payment, physical and logical access control, as well as identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, please visit http://www.zwipe.com/
Significant events H1 2024
Focusing on identity and access management, Seriline, a Sweden-based company, has signed a distribution agreement with Zwipe that pioneers next generation biometric cards for physical & logical access control and identification solutions.
Plasticard - ZFT, one of the leading manufacturers for plastic cards, smart cards and ID media has partnered with Zwipe to distribute biometric access cards for Zwipe in Germany, Austria and Switzerland.
Ermes srl, one of the leaders in providing solutions for the identification and security of people, has signed a distribution agreement with Zwipe, a pioneer and world leader in the development of biometric technology on cards for identification and access control.
Zwipe announced the appointment of PCB & Security Europe S.L., headquartered in Barcelona, Spain, as its official distributor for Spain and Portugal. This strategic partnership expands Zwipe’s reach across Europe and positions the company to capitalize on the growing demand for secure and convenient biometric access solutions in the Iberian Peninsula.
Zwipe has teamed up with SCAP, the leading distributor of access control cards and readers in France, focusing on providing advanced security RFID solutions, to introduce the innovative “biometric system-on-card” to SCAP’s customers.
Tadera and Zwipe announce that the Zwipe Access Biometric Smart Card System has completed operational test and evaluation by National Safe Skies Alliance, Inc. (Safe Skies) at Richmond International Airport (RIC). The report concludes that the Zwipe access card is a highly secure and user-friendly solution that meets the needs of the airport.
In January, Zwipe announced a company restructuring and new strategic direction, increasing its focus on Zwipe Access and accelerating the commercialization of its biometric authentication technology in the access control market. As a result of the change in strategic focus, the company has initiated a restructuring process that is expected to reduce operational costs, particularly related to Zwipe Pay.
Significant events after the period
ZKTeco, a globally recognized leader in access control solutions, is proud to announce a partnership with Zwipe, a leader in biometric technology for cards used in identification, access control, and payment. Together, they aim to deliver cutting-edge, high-security access solutions in Europe.
Zwipe the market leader in Biometric Smart Card technology for biometric access card technology, has entered into a strategic partnership with ABC Security Access Systems, a prominent integrator specializing in physical security solutions. This collaboration aims to introduce Zwipe’s state-of-theart biometric smart card technology solutions to customers across the Canadian marketplace, focusing on key sectors such as retail, government, commercial and institutional.
Zwipe, the global leader in biometric payment and access cards, and AXYS, a specialist in integrating access control, video surveillance, intrusion detection, and other security technology solutions announce a strategic partnership. This collaboration aims to deliver the groundbreaking “biometric smartcard” technology solution to AXYS’s global customer base.
Message from the CEO
During the first half of the year, we have, alongside the execution of the restructuring program, focused on implementing the new strategy focusing on the access control market. We intensified our efforts to establish and develop strategic partnerships in our targeted regions that enhance our reach and credibility within the industry with good traction and response. Collaborations and the establishment of go-to-market partnerships with key players in the security and technology sectors are increasing both our market presence and growth potential and we have expanded our network of distributors and resellers, as well as system integrators and installation companies in all geographies.
In France, during the first quarter, we signed a distribution agreement with SCAP, a major distributor giving us access to many local system integrators and installers, and a large pool of potential French end user enterprises.
During the second quarter we have started to see our intense work paying off as we have been able to sign additional collaborations with, among others, Seriline, Plasticard and Ermes. Lately we also communicated agreements with AXYS, ABC Security Access Systems, ZKTeco Europe. Many of these partners operate and have strong foothold in multiple countries and regions giving us an even wider reach.
Today we have more than 60 distributors and system integration partners throughout North America and European counties we have selected to focus on. It also means we have continued to increase the number of distributed starter packs/ demo kits during the second quarter of the year, so our partners can approach an increased number of end user enterprises.
As we have stated before, we are primarily targeting three verticals. For the Airport, Power Plants and Data Centers we have developed specific value propositions that we are getting good response and traction on. The fourth area we are approaching is more generic in terms of government agencies, major tech companies and multinational enterprises in various sectors and verticals.
Three of our partners in North America are specialized in providing security solutions to data centers. This has so far resulted in that we are engaged in a tender process with a leading internet search company and that we have commenced testing for a top social network and software company. Biometric access cards and our solution have also been adopted by architects and solution providers in future tenders when building new data centers.
On the power plant vertical we have passed product tests and are under evaluation by a major nuclear plant in North America. We also under evaluation by a major energy company in the USA.
Unfortunately, the airport vertical has not yet shown the development we had expected given the positive outcome of the report by National Safe Skies Alliance, Inc. We have two major partners in this vertical that are currently in dialogue with more than 10 airports in the USA. It is our assessment that more time is needed as decision processes in these potential deals take longer time than expected.
In total we together with our partners now have around 55 ongoing unique end user enterprise engagements. Not to say that every enterprise will ever implement biometric access cards for all their employees, but our current 55 engagements have an average of +40.000 employees per engagement, so the potential is huge.
We are obviously disappointed that we and our partners have not been able to enter into material commercial deployments and generate revenue during the first half of this year. At the same time, we are very pleased with the development in building our partner network in the first half year and the response we are getting from our engagements. That said, we are convinced that the work we have been doing will pay off in the near future.
Financial review
Profit and loss Zwipe reported total revenues of NOK 0.6 million during the first half of 2024, lower than the NOK 1.7 million reported in the first half of 2023. Net sales equalled NOK 0.1 million during the first half of 2024, and consisted to 100 percent of Zwipe access, compared to NOK 0.05 million during the first half of 2023.
Total operating expenses totaled NOK 29.4 million in the first half of 2024, down NOK 28.1 million compared to the first half of 2023. Personnel expenses were down to NOK 13.6 million compared to NOK 28.3 million in the first half of 2023, as headcount has decreased in line with the restructuring plans presented in June 2023 as well as in January 2024. Other operating expenses of NOK 14.6 million in the first half of 2024 were also significantly lower when compared to NOK 26.9 million in the first half of 2023, driven mainly by lower development, certification, marketing and travel costs. Depreciation, amortization and impairment amounted to NOK 0.7 million in the first half of 2024 versus NOK 1.0 million during the first half of 2023.
The above resulted in net income for the first half of 2024 of NOK -30.0 million, substantially better than NOK -56.1 million reported in the first half of 2023.
Cash flow During the first half of 2024, cash flow from operations and investments, before financing and facilitation, was NOK -40.9 million from NOK -59.3 million in the first half of 2023, an improvement with NOK 18.4 million.
Cashflow from financing activities equalled NOK 24.1 million and represents the remaining cash outstanding from the fundraising in the fourth quarter of 2023.
Total net cash flow for the first half of 2024, including cash flow from financing and investing activities, was NOK -17.0 million compared to NOK 25.4 million in the first half of 2023, as Zwipe completed a rights issue raising NOK 100.1 million in gross proceeds in the first half of 2023. Investments, liquidity, and financial position On 30 June 2024, cash and cash equivalents were NOK 25.2 million, compared to NOK 76.0 million on 30 June 2023.
As of 30 June 2024, production equipment, machinery, and fixtures were valued at NOK 3.7 million, and made up all long-term assets. Including cash of NOK 25.2 million, inventories of NOK 23.5 million, and receivables of NOK 1.2 million, current assets stood at NOK 49.9 million giving total assets of NOK 53.7 million.
Total equity as of 30 June 2024 amounted to NOK 30.7 million. Liabilities totaled NOK 22.9 million, comprising solely short-term liabilities. Consequently, the equity ratio stood at 57%.
This disclosure contains information that Zwipe AS is obliged to make public pursuant to the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 22-08-2024 08:00 CET.
Zwipe AS will publish its H1 2024 financial report on 22 August 2024 at 08.00 CET. On the same day at 14.00 CET, the company will host a webcast to present the report. After the presentation, the webcast will be opened up for questions from the audience.
Participants will be required to register to listen to the webcast and participate in the Q&A.
Webcast details:
Date: 22 August, 14.00 CET
Format: webcast and Q&A
Language: English
Link:
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