Zwipe is continuing to build its biometric card business in the Middle East. The company has now partnered with the Qatar Fintech Hub to help raise awareness about biometric payment technologies amongst financial stakeholders in the country.
The end goal is to persuade more financial institutions in Qatar to integrate Zwipe Pay into their own biometric payment cards. The Qatar Fintech hub was established by Qatar Development Bank (QDB) in 2018, in an effort to modernize the country’s financial infrastructure and encourage collaboration both domestically and abroad. The Hub has relationships with leading FinTech developers in the UK, Turkey, Australia, and Singapore, and is hoping that those partnerships will help drive the growth of the country’s own Fintech ecosystem.
Biometric payments are expected to be a key component of that evolution. The Qatar Fintech Hub believes that Zwipe Pay will improve the in-store checkout experience with faster and more secure transactions. Its outreach efforts are expected to motivate more biometric card trials and launches in the years ahead.
“We believe this collaboration will further accelerate the adoption of Zwipe Pay enabled biometric payment cards among fintechs, issuers, processors and consumers,” said Zwipe MENA General Manager Ramzi Saboury. “Qatar is a core market for us in the MENA region and we are already engaging with issuers in the country to pilot Zwipe Pay and be amongst the first in MENA to deploy the next Gen biometric cards.”
“Our innovation programs have witnessed tremendous success since their launch, and we are extremely happy to incorporate biometrics now,” added QDB Executive Director Ibrahim Abdulaziz Al Mannai. “This collaboration will greatly enrich our technology competency and help Qatar to become a regional hub of fintech solutions, catering to the needs of the global market.”
Zwipe is currently preparing for a biometric card trial in the Levant region, and the Central Bank of Iraq has also endorsed the technology for local financial institutions. GEPCOM, NymCard, and Middle East Payment Services are some of Zwipe’s other clients in the Middle East.
March 2, 2022 – by Eric Weiss