Zwipe partners with Gemalto on fingerprint activated payment card pilot
Gemalto, the world’s largest card manufacturer, has confirmed multiple upcoming pilots in 2018, with the first of these being with Bank of Cyprus. The card being trialed by Bank of Cyprus is a fingerprint activated payment card which utilizes Zwipe’s energy harvesting capacity and biometric engine to enable contactless and contact transactions. It is powered by the payment terminal and does not require an embedded battery.
Fingerprint activated payment cards are seen as the next major market innovation in card based payments. In November, ABI Research projected that fingerprint embedded payment cards will experience a significant growth over the next years reaching 160 million shipments by 2022 with a 5-year CAGR of approximately 400 percent.
Kim Humborstad, CEO and founder of Zwipe, commented on the partnership saying that “receiving Gemalto’s support in bringing our technology to market is a big step for our organization. We share a common vision about the capabilities and capacity of what Zwipe’s technology can offer to banks and consumers moving forward.”
Sylvie Gibert, SVP of Payment Cards at Gemalto added that they have, “… already identified several issuing banks in multiple regions to participate in the pilot program.”