Zwipe books largest single quarterly order for biometric payment cards, expects more to follow
Zwipe has received a commercial order of its technology to enable smart card manufacturers to produce biometric payment cards from what it says is one of the world’s largest smart card manufacturers.
The order for the Zwipe Pay platform is worth approximately $225,000, and shipment is targeted for the fourth quarter of 2022.
The deal represents the largest single commercial order ever in a quarter for Zwipe, but is only part of a larger volume order expected from the same customer in 2023. The manufacturer has accelerated its progress towards production readiness, Zwipe says, to deliver high volumes of biometric payment cards for key growth markets in Europe.
The unnamed card manufacturer delivers tens of millions of payment cards around the world each year, according to the announcement.
Tag Systems, part of the Austriacard Group which manufactures 100 million payment cards a year, according to a 2021 announcement, received approval from Mastercard to deploy biometric cards using Zwipe Pay just weeks ago.
“It is encouraging to see the growing commitment from one of the largest smart card manufacturers to launch biometric payment cards in higher volumes from 2023 with Zwipe,” says Zwipe CEO and President Robert Puskaric. “Our platform’s Visa certification in March and Mastercard’s approval in August this year has further accelerated our customers’ interest to bring their next generation payment cards to markets in continued partnership with Zwipe.”
The deal dramatically boosts Zwipe’s top line, after the company reported NOK 800,000 (approximately US$75,000) in revenues for the first half of 2022.