Zwipe signs up Indian partner to manufacture biometric payment cards
Zwipe is pursuing the Indian biometric payment cards market by forming a partnership with local payment card manufacturer KL Hi-Tech, which will also supply other key international markets, according to a company announcement.
Zwipe Pay ONE was selected by KL Hi-Tech as its biometric card platform after an extensive evaluation of the alternatives available on the market, the companies say. In addition to supplying the technology, Zwipe will provide technical services for the manufacturing of test card beginning in Q2 2021.
KL Hi-Tech is the second-largest payment card manufacturers in India, and 31st in the world according to the 2020 Nilson Report. It delivers approximately 50 million cards a year, 30 million of which are payment cards.
“With the impact of the pandemic still being felt across India, consumers’ focus on safety and hygiene has increased significantly,” says P. Srinivas Rao, chairman and CEO of KL Hi-Tech. “In collaboration with Zwipe, we will deliver physical cards that will enable payments to be completely touchless through a PIN-free checkout experience for consumers with much higher security. Our assessment shows that Zwipe Pay ONE represents the most advanced and high-performing solution and will be the first mass-market viable platform.”
The partners have begun engaging with issuers in India, and aim to launch pilots in Q3, with full market launches following before the end of the year.
“India is one of the world’s most attractive payment markets in size, growth rates and business potential. Complementing each other, Zwipe and KL HI-TECH will leverage each other’s unique technology, product and market assets, including KL HI-TECH’s extensive relationships with the leading banks in India, the Middle East and Africa, to offer innovative biometric payment solutions,” said André Løvestam, CEO of Zwipe.
A recent Nilson Report highlights the cost savings on biometric cards from Zwipe’s partnership with Tag Systems, released just as Goode Intelligence has forecast that 1 in 5 payment cards shipped in 2026 will have biometrics embedded.