Zwipe continues to make inroads in the African market. The company has announced a new partnership with Libya’s Mediterranean Bank, and will be helping the Bank pilot a new biometric payment card in the country in the second quarter of 2022.
Mediterranean Bank is Zwipe’s first customer in Libya, and the first financial institution in the country to move forward with a pilot for a biometric card. The Bank itself is a medium-sized operation with branches in every major city in the country. It focuses primarily on corporate banking services for entrepreneurs and other small and medium-sized businesses.
The cards featured in the pilot will be built with the Zwipe Pay platform. The actual assembly will be handled by one of Zwipe’s unnamed (but certified) card manufacturing partners in the region. Mediterranean Bank is hoping that the cards will improve the payment experience for its customers, while guarding against the larger threats of fraud and corruption.
If the pilot goes well, Mediterranean plans to proceed with the commercial distribution of its cards before the end of the year. Zwipe will provide training to make sure the Bank is prepared to issue and manage biometric cards, and will continue supporting the bank all the way through to the official launch.
“We are proud to be the first bank in Libya to introduce this world-class innovation,” said Mediterranean Bank CIO Ahmed Nafo. “We want to ensure that our customers are well protected when using payment cards and enjoy a great user experience. Our collaboration with Zwipe is well timed and strongly complements our vision to be a customer-centric bank.”
“We are excited to enter the Libyan market with Mediterranean Bank and help them to pilot their next generation payment cards,” added Zwipe MENA Region GM Ramzi Saboury.
Zwipe’s first biometric card pilot in Africa is now underway in Egypt, and is being carried out in collaboration with Masria Digital Payments. The company has also partnered with NetPS and ICPS, both of which offer card personalization services on the continent.
March 10, 2022 – by Eric Weiss