Zwipe On Track for Biometric Card Commercialization, CEO Says in Stakeholder Letter

The CEO of Zwipe has issued a letter to shareholders offering a general update on the company’s efforts to commercialize its fingerprint biometrics solution for cards – and things are going exceptionally well, according to André Løvestam.

The expansion of Zwipe’s global reach was a key focus in Løvestam’s letter. The chief executive highlighted Zwipe’s entry into the Indian subcontinent and the APAC region during the first half of 2021, thanks to partnerships with India’s KL HI Tech, Bangladesh’s Silkways Card and Printing Ltd., and Taiwan’s Beautiful Card Corporation.

Løvestam went on to gesture toward Zwipe’s ‘acceleration’ in the Middle East and Africa, crediting partnerships with Network International and Middle East Payment Services; and he noted that the company has been seeing “an increasing in-flow of interest from card manufacturers” in Europe. Likewise, Zwipe’s partnerships with financial and payment services providers have been paying off, with such partners including Sweden’s VOPY, France’s ys Pay, and Finland’s OP Bank.

The other important theme in Løvestam’s letter was Zwipe’s progress on the biometric card solution itself, Zwipe Pay ONE.

“We have now passed most critical milestones and major risk points, with only piloting and certification left before commercialization in mass volumes,” he said, noting later that pilots are planned for “late this quarter”, after which certification will be the final hurdle ahead of commercialization. “We have already performed pre-tests at accredited test labs with excellent results,” he added.

In the coming weeks, Zwipe will begin providing demo Zwipe Pay ONE cards to its partners and working with them on preparations for commercial launches. Further details of Zwipe’s work with card schemes will be revealed in Zwipe’s official report on H1 of 2021, due for publication on August 26.

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July 12, 2021 – by Alex Perala