Zwipe has picked up another smart card client in the Asian market. This time around, the company is teaming up with Modularsoft to bring biometric cards to financial institutions and other stakeholders in Malaysia.
The partnership will focus primarily on payments, with Modularsoft adding the Zwipe Pay platform to its portfolio to enable biometric transactions. Modularsoft is a certified card provider in Malaysia, with a client roster that includes many of the country’s leading banks and financial institutions.
Zwipe, meanwhile, will provide ongoing technical and business expertise to help Modularsoft achieve commercialization. The two companies are hoping to work with card issuers on pilot programs, before moving forward with full rollouts for the Malaysian public. The manufacturing of the actual cards will be handled outside of Malaysia, but will occur in the APAC region through Zwipe’s extensive partner network of certified card manufacturers. Zwipe will also provide other support services to add more value for card issuers.
Modularsoft also offers smart card services beyond the payments industry. The company’s cards have been used in education, healthcare, and telecommunications, and Zwipe’s contactless tech may have applications (such as security) with Modular’s other customers.
“We are excited about the opportunities that biometric payment cards bring to us and our issuer clients,” said Modularsoft GM Haleelur Rahman AG. “We believe that highly secure and touch-less payment cards will create a very compelling proposition for banks and consumers.”
“I am confident that this partnership will lead to multiple commercial launches of Biometric Payment Cards and I look forward to a very successful long term relationship between our companies,” added Zwipe CEO André Løvestam.
The news reflects Zwipe’s recent efforts to grow its business in Southeast Asia. The company opened a new office in Singapore in November, and appointed Claus Hansen as its new Vice President of Sales and Business Development for the broader APAC region.
February 28, 2022 – by Eric Weiss