Zwipe’s biometric smart card business is racing down the runway toward liftoff, it seems. The company has announced that it has just shipped its first order of biometric technology destined for biometric payment cards, and that it has established seven new agreements with “card manufacturers and payments ecosystem partners”, according to a statement.
Elaborating further, Zwipe says that its card manufacturing partners represent more than 40 percent of the global smart card market, with CEO Kim Humborstad asserting that the company has “extensive agreements in place with some of the world’s leading card manufacturers, paving the way for commercial deployment with banks over the course of 2018.”
Zwipe Payment SVP Pascal Dufour added that next year’s volume roll-outs will number “in the several hundred thousand range”.
The news comes amid other recent developments pointing to a heating biometric smart cards market. Last week, another fingerprint sensor specialist, IDEX, announced that it had begun sampling of its own smart card sensors with several new clients based in the APAC region; and Fingerprint Cards announced it had acquired its first customer for its T-Shape module for biometric smart cards.
For its part, Zwipe ascribed the demand to rapid growth in contactless payment solutions, coupled with new regulations like the European Union’s PSD2 requiring stronger authentication for consumers, asserting that biometric contactless payment cards “directly address these issues.”