April 21, 2017 -
Iris Corporation is partnering with Zwipe to look into the potential for biometric smartcard applications and ways the two companies can work together to promote the technology in Malaysia, according to a report in The Edge Markets.
“Iris has been in trusted ID for over 20 years and our facilities are all geared towards trusted ID,” explained Iris Corporation co-founder and technical adviser Chas Yap. “Zwipe, on the other hand, is pure payments and they’re an IP company as well. We are looking towards a future where we merge finance and ID together.”
Yap further added that there are some similarities between the manufacturing of the biometric cards and the manufacturing of the components for ID cards and passports, which Iris Corporation currently does, but said that Iris will need further investments to upgrade its manufacturing capabilities.
Zwipe chief executive officer Kim Humborstad said the two parties will look at ways to bring the new technology into the market and that they are “focusing not only on Malaysia but also other markets as well.”
Federal Land Development Authority (Felda), which holds a 21.33% stake in Iris Corporation through Felda Investment Corp Sdn Bhd (FIC), is positive on the partnership between the two companies.
“Iris is currently undergoing its corporate restructuring, so we will certainly have to look at this new investment for this new business. We will bring it to the FIC board and Felda’s as to how we will finance this new investment required,” Felda chairman Tan Sri Sharir Samad said.