Zwipe reveals new biometric payment platform partnership

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Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • Zwipe, which offers biometric payment services through its technology offering, will work with the Sweden-based firm Vopy as part of a new commercial card payment offer.
  • Vopy will act as a ‘commercial issuer’ for Zwipe payments, meaning that it will produce and offer cards – with an ambitious aim of offering half a million cards by next year.
  • Vopy said that it had a strong focus on security and customer experience, and that its values and those of Zwipe fit together well.

One of the world’s most innovative biometric payment platform providers has announced a new collaboration with a commercial card issuer.

Zwipe said that it will work with the Swedish company Vopy, which specialises in cross-border payments and other related financial services such as insurance provision.

Vopy will be responsible for issuing the new cards, which will use advanced and unusual silicon technology.

The cards, made by Zwipe under the Zwipe Pay ONE brand, include what is known as a capacity for ‘on-card fingerprint’ permissions.

This means that the customer can make a payment in a physical environment without having to come into contact with a payment machine – a development that is expected to be highly valued during the coronavirus pandemic.

The firm plans to begin this process in Q3 2021, when it will institute a pilot project.

If this goes well, it intends to launch 100,000 cards in Q4 2021.

Next year, it has a particularly ambitious target of issuing half a million such cards.

The card delivery part will be handled by firms associated with Zwipe in its pre-existing network.

However, Zwipe will benefit from the partnership with Vopy in various ways.

It is understood that Zwipe will be able to ramp up its projects with greater speed and cheaper costs, for example.

In a statement, a spokesperson for Vopy said that “user experience” was highly important for the firm when it comes to selecting partners.

Håkan Tollefsen, who serves as chief executive officer at Vopy, added that there was a strong fit between his firm and Zwipe.

“As a disruptive financial services platform provider, it is crucial for Vopy to deliver a payment solution built on world-class security and user experience,” he said.

“Having closely followed Zwipe’s innovations in biometric payments and their global delivery network of card suppliers, our decision to go for Zwipe Pay ONE was a natural one.”

For Zwipe’s part, its chief executive officer André Løvestam said that the company was “grateful” for the assistance of Vopy.

Løvestam emphasised the fact that Vopy was in the process of scaling up its operations, and he offered public support for this endeavour.

“We are grateful for Vopy’s confidence and ready to support them with biometric payment cards on their ambitious expansion journey,” he said.

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