Zwipe Anticipates Commercialization of Biometric Payment Cards

Biometric smart cards are finally poised to become a commercial reality. In a recent memo, Zwipe CEO André Løvestam noted that several “1^st Generation” biometric cards will achieve small-scale commercial launches in 2020, paving the way for an even greater breakthrough as demand increases in the next few years.

Of course, Løvestam believes that Zwipe is well positioned to capitalize on that emerging market. He specifically cited the company’s Pay ONE platform, which is a single-chip solution that was designed to reduce manufacturing costs while increasing energy efficiency. The technology has drawn the interest of several card manufacturers, including Hong Kong’s TFCT and Brazil’s Thomas Greg & Sons. Both companies are currently moving towards the small-scale manufacturing of biometric cards with Pay ONE technology.

Løvestam does attribute much of the recent demand for biometric payment options to COVID-19. The coronavirus has made people more aware of the fact that contactless payments are more sanitary than contact-based alternatives, leading many countries to raise their contactless payment caps to minimize the number of people using shared devices like PIN pads. Biometric authentication can help facilitate those transactions without compromising on security. 

In the meantime, Zwipe has teamed up with Watchdata Technologies to bring biometric payment technology to wearable devices in addition to physical payment cards.

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July 6, 2020 – by Eric Weiss