June 7, 2017 -
Zwipe has secured two new orders for its biometric payment solution, the first from an undisclosed customer in Asia and the second from a global tier-1 card manufacturer.
These customers are expected to deploy cards with Zwipe’s biometric payment solution in Q3 and Q4 in Europe and Asia.
The solution consists of an electronic inlay embedded into existing payment cards. The inlay integrates an off-the-shelf fingerprint sensor with Zwipe’s biometric engine and power harvesting technology to allow the authorized user to complete contactless and contact transactions with the card, without the need for a battery. Standard point of sale terminals provide the power to operate the biometric payment card.
“Integrating biometrics into payment cards is a logical thing to do, however, to work in scale it needs to be practical, user friendly and function without the need for a biometric database,” explained Kim Humborstad, CEO of Zwipe. “Our technology addresses this directly.”
In February Zwipe completed a $4.3M private placement of new shares to existing and new investors.