Zwipe has found another partner in its efforts to target the Middle Eastern financial services market. The company has teamed up with Kuwait-based VeriTech in a partnership revolving around the Zwipe Pay ONE biometric payment cards platform.
In announcing the partnership, Zwipe explained that it will provide VeriTech with “key components” of its biometric payment cards platform, and that it will take the lead on providing advisory services to banks and card issuers. VeriTech is described as a market leader in EMV payment card personalization, POS and mobile NFC technology, and self-service kiosks.
For the payment specialist’s part, VeriTech CEO Shakeel Khokhar suggested that Kuwait’s status as an early-adopter market for payment innovations bodes well for the success of biometric payment cards. Meanwhile, the COVID-19 environment is further spurring demand for contactless solutions like tap-to-pay cards.
“Having seen firsthand other solutions in the market, we are excited to embrace Zwipe Pay ONE as our preferred biometric payment card product,” he said. “The urgency with which issuers are demanding more contact-free payment alternatives is really driving interest and investment in this area with some of the largest banks in the region who we count as customers.”
For Zwipe, it’s the latest of multiple partnerships focused on the Middle East. The company teamed up with Lebanon-based Inkript in October, and announced an extended partnership with Areeba around the same time.
“This partnership is another big step forward for Zwipe in driving our continued expansion in the Middle East where we have a strong network of technology partners in place,” commented Zwipe CEO André Løvestam, adding that this latest partnership would harness “VeriTech’s close relationships with leading banks in Kuwait”.
December 3, 2020 – by Alex Perala