The globally renowned biometrics company, Fingerprint Cards AB (Fingerprints) and Mswipe, one of India’s major end-to-end digital enablers for SMEs, will collaborate and bring biometric debit and credit cards to India, targeting 940 million active payment card customers.
Fingerprints’ proven biometric technology, along with Mswipe, who is India’s largest independent mobile POS merchant acquirer and network provider, will target around 100,000 existing customers. The collaboration will feature Fingerprints’ T-Shape module and software platform.
Fingerprints and Mswipe partnership
Michel Roig, the President of Payments & Access at Fingerprints, said “We are happy to collaborate with Mswipe, being a leader of digital payment provider in India. With the wide partner portfolio secured by Mswipe, we truly believe adding biometric solutions to their product range will add convenience and easy payments for merchants and consumers in the region.”
Michel Roig adds, “Contactless and digital payments are growing fast in India, as consumers are choosing touch-free, safe and seamless ways to pay.”
Fingerprints’ biometric solution
Introducing biometric payment cards offers great benefits for our merchants and consumers alike"
Manish Patel, the Managing Director (MD) at Mswipe, said “We selected Fingerprints’ biometric solution, as the leading technology in the market. It offers proven biometric performance and the lowest power consumption, features which are of the highest importance for contactless biometric cards.”
H adds, “Introducing biometric payment cards offers great benefits for our merchants and consumers alike, as contactless payments in India continue to grow quickly.”
Fingerprints and Transcorp collaboration
World-renowned biometrics company, Fingerprint Cards AB (Fingerprints) and Transcorp, a 27-year-old Reserve Bank of India-regulated Prepaid Instruments licence holder, collaborate to bring cutting-edge biometric technology to India.
Transcorp has pioneered and democratised co-branded cards in India for fintechs and has a varied and broad portfolio of B2B partners.
Biometric cards featuring Fingerprints' T-Shape module
The biometric cards to be launched will feature Fingerprints’ T-Shape module, which is tailored to be integrated in biometric payment cards using standard automated manufacturing processes.
Michel Roig, the President of Payments & Access at Fingerprints, said “We are pleased to collaborate with Transcorp, to bring state-of-the-art contactless biometric cards to Transcorp’s customers.”
Contactless payment transactions
Michel Roig adds, “This collaboration will bring consumers in India a more secure, fast, and convenient payment experience. We see huge potential in India and the APAC region, since contactless payment transactions have been increasing year-on-year.”
Ayan Agarwal, who heads the PPI Business at Transcorp, said “In the spirit of financial innovation and payments security, we are thrilled to collaborate to launch India’s first contactless biometric authenticated card! This will further expand offerings to over one million Transcorp customers.”
Ayan Agrawal adds, “Delivering this project required the approvals of many entities, which Transcorp was able to secure in record time. This reinforces continuous successful efforts to enable Transcorp’s fintech partners, to achieve their desired milestones, by aligning stakeholder deliverables.”