Private Placement to Boost Zwipe Payment Card Effort

Zwipe is banking on a big new private placement to help fund its push into the emerging biometric payment cards market.

Private Placement to Boost Zwipe Payment Card EffortValued at NOK 35 million, or about $4.3 million, the new shares were sold to both current and new investors. In a statement announcing the move, Zwipe CEO Kim Humborstad called it an acknowledgement of Zwipe’s “value proposition – easy, secure and fast authentication”.

While multiple firms are now racing their own biometric payment card solutions to the market as it begins to take shape, Zwipe claims to have “the only commercially available fingerprint activated contactless payment card capable of operating without the need for a battery or fixed power supply.” The company says it is currently running its solution through commercial trials.

Meanwhile, the company’s Zwipe Access biometric access control cards continue to find new customers, with G4S Canada and Chatsworth Products both having added them to their solutions portfolio last month.

December 1, 2017 – by Alex Perala