Central Bank of Iraq Encourages Banks to Work With Zwipe

Zwipe has received an official endorsement from the Central Bank of Iraq, a development that could help to further strengthen its global position in the emerging biometric payment cards market.

“We deeply appreciate that global technology leaders [such] as Zwipe are putting immense efforts to not just introduce great innovations but building the payments ecosystem, helping all the parties in the value chain,” said the bank’s General Manager, Duha Al Atta, in a statement. “We encourage banks to pilot innovations from Zwipe, assess the end users’ feedback and bring biometric payment cards to Iraq in 2022.”

The affirmation arrives on the heels of Zwipe’s announcement that an undisclosed bank in the Levant region will soon trial a biometric payment card based on the Zwipe Pay ONE platform. The project, conducted in partnership with payment services provider areeba, is expected to begin in the first half of this year.

“We are extremely glad to see the support from Central Bank of Iraq for Zwipe,” commented Zwipe’s General Manager for the MENA region, Ramzi Saboury. “Their interest in biometric payment cards will further accelerate the adoption of our innovation in 2022.”

The central bank endorsement may help Saboury to deliver further wins for Zwipe in the Middle East region. Appointed to his role less than a year ago, Saboury appears to have helped to drive considerable business for Zwipe in the region in recent months, with the company having announced multiple partnerships and, most recently, a pilot project with an Egyptian bank.

That having been said, in seeking to establish a partner network ahead of an anticipated boom in biometric payment cards, Zwipe’s scope is global, with recent partnerships spanning from Mexico to Africa. Zwipe CEO André Løvestam got some attention at the start of this year with his prediction that 2022 will deliver a commercial breakthrough for the company.

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(Originally posted on Mobile ID World)