Zwipe announces continued progress on dual interface biometric payment card

Zwipe shared 2016 fourth quarter business highlights this week as part of its investor presentation hosted by Carnegie Norway, a prominent Nordic investment bank.

Dual interface biometric payment cards

Zwipe has continued to make progress on testing, product expansion, and market development in all three product verticals, payment, access control, and ID solutions. With a focus on preparing for large scale commercialisation, the company has invested in organisational development, internal infrastructure, and customer centric R&D.

On the payment side, the company confirmed that it is on track for an expected launch in 2017 of dual interface biometric payment cards while also sharing that it has entered new statement of work agreements with two multinational card manufacturers in the quarter.

Global product deployment

Regarding access control and ID solutions, Zwipe was pleased to communicate a large follow-up order from an existing customer in the United States. The critical infrastructure company, with an extensive network of facilities across the West Coast made the order following a successful initial deployment. This comes on the heels of Zwipe confirming a new partnership with ISG, a network of 33 solutions resellers covering the whole of North America, providing entry to an extensive sales channel for both access and ID solutions. In Asia, Zwipe signed a letter of intent with a prominent Chinese public transportation company, paving the way for increased global product deployment.

Further, the company raised NOK 36 million of new equity in February expanding the support shown towards the economic potential of Zwipe’s unique technology and offerings.