Zwipe is extending its reach in the Latin American market through a new partnership with IC Payment. IC Payment is a fintech provider based in Chile, with an extensive partner network that covers all of Latin America and branch offices in Uruguay and Argentina.
The partnership with Zwipe will allow IC Payment to offer biometric payment card products to that partner network, which includes a number of Latin American banks and card issuers. Zwipe is best known for its Pay ONE solution, which uses fingerprint recognition rather than a PIN to verify the identity of a cardholder at the point of sale.
IC Payment and Zwipe are hoping that the arrangement will increase biometric card adoption rates in Latin America. The two companies can provide banks with custom-branded card designs, and will offer ongoing support and customer service for those that issue biometric cards to their consumers.
“We are thrilled that IC Payment has selected Zwipe Pay ONE to enable their issuer, processor and card bureau clients to adopt biometric payment cards,” said Zwipe CEO André Løvestam. “We look forward to introducing the next generation of contactless payment cards in large and high growth payment markets in Latin America and the Caribbean.”
“Biometric payment cards are attracting increasing interest from issuers as they deliver much better user experience, transaction security and safety,” added IC Payment CEO Christian Herrera. “This innovation will help our partners and customers to differentiate their offerings, make them more competitive and drive growth.”
FPC has argued that Latin America will be one of the leading markets for biometric card technologies, especially after BBVA Mexico became one of the first banks in the world to start issuing biometric cards to its customers. Zwipe itself has already signed a card partnership with TGS in Brazil, though it has recently been focusing its attentions on its business in the Middle East. To that end, the company has entered biometric card agreements with NymCard and QPS.