FB pixel

Zwipe sees revenue growth in Q3 but cash flow is a problem

Zwipe sees revenue growth in Q3 but cash flow is a problem
 

Zwipe‘s third-quarter revenue doubled compared to the third quarter last year. In the most recent quarter, revenue was 800,000 NOK, or US$77,000, compared to 400,000 NOK, or $38,000, in the third quarter of 2021, according to the company.

Net cash flow moved the other direction. In the third quarter this year, it was -24.2 million NOK (-$2.33 million) compared to -15.8 million NOK (-$1.52 million) a year ago.

“During the third quarter, [Zwipe] continued to strengthen its platform and market position to help its customers deliver biometric payment and access control cards to the market,” according to the company.

In the third-quarter brief, the company counted among its significant events during Q3 Mastercard certifying the Pay biometric payment card platform and Tag Systems obtaining a Mastercard letter of approval for cards built on Zwipe’s Pay platform.

Zwipe CEO Robert Puskaric and chief financial officer Danielle Glenn made a short presentation on the operational update that can be found here.

Also in Q3, Fraport announced that biometric access control project at Frankfurt Airport was successfully completed, with Zwipe passing all required tests.

More recently, Zwipe announced a significant commercial order for Pay totaling $225,000 from a large European organization, and Civix announced a partnership with Zwipe to bring biometric access control cards to airports in the United States.

Article Topics

 |   |   |   | 

Latest Biometrics News

 

Anticipation for Metalenz and Samsung’s answer to Face ID mounts

After Samsung and Metalenz collaborated to incorporate Samsung’s Isocell Vision 931 image sensor into Metalenz’s Polar ID imaging technology, Mashable…

 

Germany beefs up border security ahead of UEFA Championship

Germany has been ramping up security measures such as border checks and CCTV surveillance in preparation UEFA European Football Championship…

 

Inverid and Cybernetica team up to secure digital ID, signatures with biometric MFA

A new partnership has been formed by Inverid and Cybernetica to combine the NFC ID document-scanning capabilities of the former…

 

Vision-Box unveils new Service Design platform for travel experience enhancement

Vision-Box, an Amadeus company known for its biometrics-based travel offerings, has introduced its latest service innovation: Service Design, which aims…

 

Moldova’s first digital ID app sees 24K downloads in five days

Moldova’s first digital identity wallet was downloaded over 24,000 times within the first five days, causing temporary glitches due to…

 

Australia and Japan showcase cross-border verifiable credentials

In recent years, Australia and Japan have both launched digital identity initiatives allowing their citizens to verify themselves online. The…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events