OSLO, Norway and CHENNAI, India, May 10,
2021 /PRNewswire/ -- FSS (Financial Software and Systems), a
leading global provider of integrated payment products and a
payment processor, is partnering with Zwipe to bring next
generation contactless payment cards to issuers globally. Zwipe is
a payment FinTech recognized for having pioneered the development
of biometric payments and has delivered many successful pilots
around the world.
FSS is among the leading providers of card issuance products
globally and its card portfolio consists of 800 plus million
payment cards for Tier One banks and payment processors. The
organizations will collaborate closely, offering greater value to
customers by combining FSS's Unified Issuance Platform and Zwipe
Pay One biometric card capabilities, supported by Zwipe's
fast-growing global network of card manufacturing partners.
The widespread adoption of contactless payment cards has been a
huge success in recent years1. The Covid-19 pandemic has
accelerated the use of contactless payments even further as
consumers demand a safe, contact-free transacting environment.
However, the lack of cardholder authentication with contactless
cards translates into usage being restricted to relatively small
and medium value payments, hampering the ability to deliver a fully
contact-free experience for all payment values. The response to
this is the biometric payment card that fully enables contact-free
transactions while boosting confidence and security for consumers,
retailers and issuers.
Commenting on the partnership K Srinivasan, Chief Operating
Officer, FSS PayTech, said "Biometric payment cards will
bring strong differentiation and value uplift to our card issuance
and management offerings. Our partnership with Zwipe will help our
issuer clients to deliver a completely touchless and PIN-free check
out experience, better in-store payments hygiene and much stronger
cardholder security. Needless to say, now more than ever,
innovation can play a critical role within the context of the
global pandemic which makes it even more important to bring
solutions such as this quickly to our customers. Zwipe Pay ONE is
recognized as the most advanced (Gen3) biometric payment technology
and complements FSS' innovative card portfolio. It will be made
available to our clients for piloting and deployment from H2
2021".
As part of this collaboration, FSS will offer Zwipe Pay ONE
biometric payment cards globally. The initial focus will be in
those markets where contactless is bringing considerable benefits
in the area of financial inclusion as seen in Canada, India
and a number of countries within Europe, Middle
East (GCC countries) and Africa. Both partners will start engaging with
issuers from Q2 2021 and aim for starting pilots from 2H 2021.
"We are humbled and proud to partner with FSS, one of the
most respected and global providers of payment services. This is a
landmark agreement for Zwipe and will significantly accelerate our
growth globally, most notably in Asia, the world's largest payment market,"
said André Løvestam, CEO of Zwipe.
This is information that Zwipe AS is obliged to make public
pursuant to the Continuing obligations of companies admitted to
trading on Euronext Growth Market Oslo, Nasdaq First North Growth
Market and the EU Market Abuse Regulation. 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 10:05 CEST
on 10 May 2021.
About FSS
Financial Software and Systems (FSS) is a leader in payments
technology and transaction processing. The company offers an
integrated portfolio of software products, hosted payment services
and software solutions built over 30+ years of experience. FSS,
end-to-end payments products suite, powers retail delivery channels
including ATM, POS, Internet and Mobile as well as critical
back-end functions including cards management, reconciliation,
settlement, merchant management and device monitoring.
Headquartered in Chennai, India,
FSS services leading global banks, financial institutions,
processors, central regulators and governments across North America, UK, Europe, ME, Africa, and APAC and has 2,500 experts
on-board. For more information visit www.fsstech.com
About Zwipe
Zwipe is pioneering the next generation contactless payments
experience, providing biometric payment cards components and
wearables technology that enable consumers to authorize
transactions with their fingerprints without compromising their
privacy. Together with an ecosystem of partners including global
brands within digital security and financial services, Zwipe is
"Making Convenience Safe & Secure" for banks, merchants and
consumers. Zwipe's solutions address the hygiene and data theft
pitfalls inherent in traditional authentication methods.
Headquartered in Oslo, Norway,
with a global presence, Zwipe is leading the next great shift in
payments from contactless to contact free. To learn more, visit
www.zwipe.com
For further information please contact: André Løvestam, CEO,
+47 991 66 135 info@zwipe.com
1 A recent study by Mastercard shows
considerable consumer uptake on contactless payments.
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FSS selects Zwipe Pay
ONE for Next-Generation Contactless Cards to be offered
globally
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https://news.cision.com/zwipe-as/i/fss,c2911095
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FSS
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SOURCE Zwipe AS