Zwipe - Mastercard approves the Zwipe Pay Biometric Card Platform

Rhea-AI Summary

On August 25, 2022, Zwipe AS announced the acquisition of a Component Conformity Statement (CCS) from Mastercard for its Zwipe Pay platform. This certification affirms that the biometric payment card platform meets Mastercard's rigorous security and performance standards. The CCS allows Smart Card Manufacturers to utilize Zwipe’s certification to gain Mastercard’s Letter of Approval for their biometric cards, expediting global deployment. This development enables issuers to create differentiated payment solutions, enhancing customer acquisition and loyalty opportunities.

Positive

• Zwipe Pay platform received CCS from Mastercard, confirming its security and performance.
• Certification accelerates deployment of biometric payment cards by Smart Card Manufacturers.
• Issuers can leverage Mastercard's global network for enhanced customer acquisition and loyalty.

Negative

• None.

OSLO, Norway, Aug. 25, 2022 /PRNewswire/ -- Zwipe AS, a leading provider of biometric payment card solutions, is proud to announce that it has obtained the Component Conformity Statement  ("CCS") certificate from Mastercard for the Zwipe Pay platform, the most advanced and integrated biometric card solution available to all Smart Card Manufacturers ("SCMs") in the market today.

This CCS certificate enables Zwipe's customers, the SCMs, to leverage Zwipe's certification results to obtain a Letter of Approval ( "LoA") from Mastercard for their own biometric payment cards built on the Zwipe Pay platform.

Zwipe successfully passed all tests required to obtain the Mastercard CCS certificate. This certification confirms that the Zwipe Pay biometric payment card platform meets all the security, reliability, functionality, and performance standards required by Mastercard. Zwipe's complete end-to-end biometric payment card platform is now ready for full adoption by SCMs to produce Mastercard cards.

Issuers can now work with their SCMs to develop and launch biometric payment cards based on Zwipe Pay, and leverage Mastercard's global network to deliver Mastercard biometric payment cards throughout the world. Issuers will have the opportunity to create differentiation, accelerate customer acquisition, uplift loyalty and create new revenue streams.

Consumers will benefit from more convenient, safe, and secure ways to pay.

"Having the Zwipe Pay platform certified by Mastercard is a significant milestone and major step forward for Zwipe and our customers. This development will further accelerate issuer pilots and planned launches based on Mastercard's network. The pathway is now open for Smart Card Manufacturers and issuers all over the world to certify, produce and deploy Mastercard biometric cards based on Zwipe Pay," said Robert Puskaric, CEO of Zwipe.

This information is subject to the disclosure requirements in Regulation EU 596/2014 article 19 number 3 and the Norwegian Securities Trading Act section 5-12, and is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out below, at 11.15 on 25 August 2022.

About Zwipe

Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.  To learn more, visit http://www.zwipe.com.

For more information, please contact:

Danielle Glenn, CFO and Head of IR

+47 909 98 201

danielle@zwipe.com

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20220825 Mastercard approves the Zwipe Pay Biometric Card Platform

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SOURCE Zwipe AS

FAQ

What does the Mastercard CCS certification mean for Zwipe AS?

The CCS certification confirms that Zwipe's biometric payment card platform meets Mastercard's stringent security and performance requirements, enabling faster deployment of their products.

How will the Mastercard certification affect biometric payment card issuers?

Issuers will be able to collaborate with Smart Card Manufacturers to develop and launch biometric cards, leading to differentiation and new revenue streams.

When was the Zwipe Pay platform certified by Mastercard?

The Zwipe Pay platform was certified on August 25, 2022.

What opportunities does the CCS certification create for Smart Card Manufacturers?

The certification allows SCMs to leverage Zwipe's results to obtain Mastercard's Letter of Approval for their biometric payment cards, streamlining their production process.