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Zwipe to contribute to EMVCo’s Biometric on Card initiative

Idex cards coming to India in Q1 2024
Zwipe to contribute to EMVCo’s Biometric on Card initiative
 

Zwipe has joined EMVCo, the global body for technical standards supporting payment card interoperability and acceptance, as a subscriber to work on the organization’s “Biometric on Card” project.

EMVCo’s “Biometric on Card” initiative is working towards the development of performance and security requirements, and evaluation frameworks for biometric payment cards. Zwipe will contribute its technical expertise and growing experience in the field, according to the announcement.

“We welcome this EMVCo initiative, which will greatly simplify market introduction of biometric payment cards by the issuers, banks and fintechs, and further accelerate market adoption of this convenient and secure payment product,” says Patrice Meilland, chief strategy, product and marketing officer at Zwipe.

Mastercard approved BCC payment cards built with Zwipe’s Pay platform earlier this year.

The first biometric Visa card launched in Kuwait, by Zwipe and Inkript partner Kuwait International Bank (KIB), has won an award from the payments giant honoring the accomplishment, Arab Times reports.

Several of Zwipe’s recent deals for biometric cards are for access control applications.

Cards from KL Hi-Tech and Idex coming to India

Biometric payment cards continue the long march to mainstream adoption, as cards produced through a partnership between Idex Biometrics and KL Hi-Tech are expected to roll out in the first quarter of 2024, the companies announced.

KL Hi-Tech is accredited by Visa, as well as Mastercard and RuPay, and produces 36 million dual-interface payment cards a year.

“The convergence of a thriving smart card market and the rapid adoption of biometrics in India presents a remarkable opportunity for biometric cards,” says KL Hi-Tech Chairman and CEO P Srinivas Rao.

“India leads the world in biometric authentication solutions for digitalization and boasts one of the fastest-growing payment card markets globally, with nearly 1 billion cards in circulation,” says Idex Biometrics CCO Catharina Eklof. “The Indian market holds immense potential for biometric payment cards, and KL Hi-Tech’s robust market positioning and extensive bank and issuer portfolio will further bolster its growth.”

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