Strengthening the power of collaboration: Zwipe & Infineon extend their partnership
Munich, Germany, and Oslo, Norway – 18 June 2019 – Biometric technology company Zwipe and the world’s leading provider of semiconductor solutions in the payments market, Infineon Technologies AG, have extended their non-exclusive partnership through a long-term agreement. This settlement outlines both technical and commercial collaboration between the two companies. The two parties will co-define and develop advanced system-on-chip solutions and related system designs for mass deployment of biometric smart devices, including payment cards and wearables.
Tap and go payments with biometric cards are gaining considerable market traction as they significantly improve the user experience without compromising on security, supporting the strong customer authentication (SCA) requirements demanded by the second Payment Service Directive (PSD2) in Europe.
Zwipe and Infineon have a long-standing relationship. Infineon’s Secure Element is currently deployed in all pilot projects featuring Zwipe’s biometric payment platform, currently supporting multiple leading payment networks run by 12 major banks in various countries across Europe and the Middle East. Card manufacturers plan to certify fully biometric payment cards and make them commercially available this year.
Commenting on this partnership, André Løvestam, CEO of Zwipe, said “We are proud to strengthen our long-standing partnership with a global technology leader such as Infineon. This collaboration further enhances our ability to commercialize our technology and IP through competitive solutions for mass-volume deployment.”
Bjoern Scharfen, Head of Payment & Wearables at Infineon had the following to say: “Our collaboration and joint offering with Zwipe is a key accelerator of mass deployment in the biometric payment market.”
Working together, the two technology companies will seek to develop advanced integrated solutions optimized to the volume requirements of biometric dual-interface payment cards. The platforms being developed combine simplified card design with reduced bills of material.
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*Secure Element (SE) is a microprocessor chip which can store sensitive data and run secure apps such as payment. It acts as a vault, protecting the information inside the SE (applications and data) against malware attacks that can be typical launched against the host (i.e. device operating system).
About Infineon
Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer and greener. Microelectronics from Infineon is the key to a better future. In the 2018 fiscal year (ending 30 September), the Company reported sales of €7.6 billion with about 40,100 employees worldwide. Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY). Further information is available at www.infineon.com
Media Contact for Infineon: Karin Braeckle, Manager Media Relations, +49 89 234 234 24 karin.braeckle@infineon.com
About Zwipe
Zwipe is a technology solution provider that enables battery-less, ultra-low-power, self-contained biometric authentication solutions. Together with an ecosystem of partners including global brands within security, financial services and ID applications, Zwipe is “Making Convenience Secure™” for banks, merchants and consumers. Using advanced fingerprint recognition while protecting personal information, Zwipe’s solutions address the data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, Zwipe has spent the last 10 years developing its unique power harvesting technology platform in combination with security solutions based on international infrastructure standards. To learn more, visit www.zwipe.com
Media Contact for Zwipe: André Løvestam, CEO, +47 930 44 040 info@zwipe.com
