Zwipe has announced that it has made the first shipment of its biometric technology products, for use in commercial contactless biometric payment card pilots by leading card manufacturers and banks. Commenting on the announcement Kim Humborstad, founder and CEO of Zwipe said: “We now have extensive agreements in place with some of the world’s leading card manufacturers, paving the way for commercial deployment with banks over the course of 2018.” Global smart card market In total, Zwipe’s card manufacturing partners represent over 40% of the global smart card market, per volume shipped per the Nilson Report. Zwipe has entered into seven new agreements with both card manufacturers and payments ecosystem partners with a focus on meeting escalating commercial demand for biometric smartcard solutions. Zwipe received their first commercial orders for their contactless biometric payment card inlay in June of this year. Providing further insight, Pascal Dufour, SVP of Payment at Zwipe said: “We have received additional orders based on progress made this summer for our solution which is fully market ready. Upon successful completion of pilots, commencing in the fourth quarter this year, our partners have communicated expected volume roll-outs numbering in the several hundred thousand range in 2018.” Zwipe’s contactless payment card is the only smartcard solution capable of operating without the need for a battery Growth of contactless payment The rapid growth of contactless payment is a key driver for the integration of biometric technology on conventional payment cards. Contactless payment card adoption throughout the world has seen double digit growth globally, and with that, contactless transaction fraud has also grown equally as fast. Additionally, new regulation is seeking to address these challenges by mandating much stronger consumer authentication, as seen in the European Commission’s Payments Services Directive, PSD2. Biometric enabled contactless payment cards directly address these issues. Zwipe’s biometric contactless payment card is the only smartcard solution commercially available, and the only solution capable of operating without the need for a battery or fixed power supply. Other biometric card concepts are most commonly capable of contact-only payment, or operate with the support of a battery. Addressing the market and Zwipe’s position, Kim Humborstad added: “The industry’s biggest movers, card brands, card manufacturers and key technology stakeholders across the ecosystem are investing heavily to gain an advantageous position in a market segment that is here now, with Zwipe being the leading technology provider.”
The ISO and EMV compliant card operates without the need for a battery Biometric technology company Zwipe will for the first time publicly demonstrate its dual-interface payment card in Singapore, on April 19th and 20th, at Seamless Asia 2017. The innovative payments solution is the first of its kind to fully integrate EMV compatible contact and contactless transactions. Unlimited contactless transactions Working with existing infrastructure, the ISO and EMV compliant card operates without the need for a battery, allowing end-users to make limitless contactless transactions thanks to the advanced security enabled by biometrics. All biometric information is securely encrypted only on the card and nowhere else meaning that the solution works without the need for a database. Commenting on the progress of its payment solution, Kim Humborstad, CEO of Zwipe said: “We have been working diligently to bring our biometric payment technology to market and the payment card, which we will be showcasing at Seamless Asia, will give attendees in Singapore a glimpse at what we have been demonstrating successfully behind closed doors in pilot programs over the last few months.” Integrating a fingerprint sensor "You do not need to sacrifice security for speed or a friendlier user experience, you can have it all" Zwipe’s core technology is a payments system that is secured by biometrics and powered by near field technology. “We are not just integrating a fingerprint sensor into a traditional payment card. There are many unique components that are working seamlessly together to enable a more secure and user friendly experience with applications that go beyond cards.” commented Kim Humborstad, adding, “You do not need to sacrifice security for speed or a friendlier user experience, you can have it all.” It is widely believed that adoption of biometric smart card applications and systems will happen this year with significant interest in Asia, Europe, and North America. “From our discussions concerning the Asian marketplace with our partners in the region, we see our technology being deployed in Asia as early as this year.” commented Pascal Dufour, SVP of Payment at Zwipe, adding, “The technology is ready and our network of suppliers in the region has confirmed interest from multiple end customers.” Seamless Asia 2017 will take place at the Suntec Convention & Exhibition Centre in Singapore. To see live demonstrations and meet Zwipe’s Payments team please visit Zwipe at booth F03.
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