Zwipe will be embarking on a biometric payment card pilot with an unnamed Tier-1 bank. The bank is headquartered in Europe, though it has an international customer base with millions of clients located on continents all over the world.
The actual pilot will be carried out in three countries in Europe, where the bank will issue biometric payment cards to a few hundred lucky cardholders in the first quarter of 2022. If that goes well, the bank plans to move forward with a full commercial launch of the biometric cards later in the summer of that year.
The cards themselves will feature Zwipe’s Pay ONE technology, which enables the use of fingerprint recognition to verify a cardholder’s identity during a transaction. In doing so, it allows payment providers to lift the payment cap on contactless transactions, and minimizes the need for physical contact with PIN pads and point-of-sale terminals during the pandemic.
Zwipe will start working with the bank and its card manufacturing partners within the month. The company believes that the cards will appeal to new and existing customers that are looking for a safe and convenient payment experience.
“We are thrilled that a Global Tier 1 bank has chosen Zwipe for their pilot and, potentially, for a commercial launch where the long-term potential could be significant,” said Zwipe CEO André Løvestam. “Besides the technology, Zwipe will also support the bank through all stages of the pilot, ensuring that all end users’ experiences and feedback are systematically captured.”
Zwipe’s Pay ONE platform utilizes fingerprint sensors from IDEX Biometrics. The company has been targeting multiple international markets in the past few months, and it now has biometric card partnerships with ICPS, Network International, and Middle East Payment Services. The former will extend Zwipe’s reach in Africa and Southeast Asia, while the latter two will raise its profile in the Middle East.
September 7, 2021 – by Eric Weiss