Biometric payments are coming as Zwipe raises $14m

Biometric payments are coming as Zwipe raises $ 14m

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It certainly looks futuristic Rather than use the tried and tested chip and PIN method, Zwipe cards use a combination of contactless payment technology and biometric fingerprint scanning to authorize transactions. The card harvests the energy needed to operate using NFC. The company says its payment system combines the speed of contactless with the security of biometrics.

The tech itself is still the pilot stage, and has been deployed in Italy with Intesa Sanpaolo Bank as well as 10 banks in the Middle East. Now, with this new investment, Zwipe is pursuing partnerships globally with hopes of bringing its biometric payment card to market this year.

Investors are excited, at least if Zwipe's latest round of fund-raising is going on. The startup offered six million new shares which attracted strong interest from institutional and professional investors as well as the general public, raising 120 million Norwegian kron (14 million USD) in the process. The share-offer, which was over-subscribed, was ahead of a planned admission to trading on Merkur Market, Oslo Børs.
Biometric payments are coming as Zwipe raises $14m
NFC and Touch ID combined? / © Zwipe

André Løvestam, CEO of Zwipe, said: "Zwipe is the forefront of a global shift toward more secure and convenient contactless payments and the market is primed for growth. We are confident that our industry-leading technology and partnerships have a strong market position both in the short and long-term. "

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Løvestam added that for the new funding received, the company can now intensify its customers and partners in making facility secure.

Opinion by David McCourtThis will be big in the UK, where NFC credit cards are the most popular payment method. What do you think? 5050B the first to vote

Jorge Lantto, Chairman of the Board of Zwipe, said: "The company seeks to capitalize on its strong position in the biometric payment marketplace and as the payment industry consumers to the biometric payment cards carrying towards the move." He also thanked the current shareholders for their continuous support.

What do you think? Would you be interested in using this kind of payment technology?

Biometric payments are coming as Zwipe raises $14m

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