Another financial institution is looking to bring a biometric payment card to the market with assistance from Zwipe. The company’s Pay ONE platform will be featured in a new card from Reltime, and will also provide ongoing technical support for Reltime as the company conducts pilots and moves toward a full commercial launch.
Reltime itself is a financial start-up that is developing a Decentralized Finance (DEFI) Ecosystem for end users all over the world. The company is based in Oslo, and will begin offering financial services to customers in Europe, Japan, India, Mexico, and Brazil in the first quarter of 2022, before opening up to a global market in the third quarter of the year.
The goal is to provide those customers with convenient (and secure) financial services geared toward an international economy. The platform offers international money transfers and digital wallets in addition to more traditional banking, lending, and card payment services, and will automatically convert everything to the local currency to streamline transactions.
Reltime will act as its own card issuer, though Zwipe will be working with its other pilots to make sure that the pilots (scheduled for Q1 2022) go smoothly. Pay ONE will provide a strong layer of biometric security, allowing card holders to authorize payments with fingerprint recognition rather than a PIN.
“We are proud that a global innovator such as Reltime recognizes the value of biometric payment cards and has decided to use Zwipe as part of its next-generation financial services platform,” said Zwipe CEO André Løvestam. “Together we will help many telecom operators and issuers to bring significantly enhanced convenience and security in payments.”
The news extends Zwipe’s recent run of success. The company has now signed four new partners in September alone, with Reltime joining a list that already includes NymCard, QPS, and an unnamed tier-1 bank in Europe. Zwipe also received a follow-up order from Inkript for the Pay ONE solution.