Payments

Zwipe, Raised another $3.5 Mn for its Biometric Access Card with Fingerprint Touch Sensors

The Electronic Access Control Market is estimated to reach $16.3 Bn by 2017 and is increasing at a CAGR of 7% according to Reportlinker.com. On 2nd December 2013, Zwipe launched a biometric access card with fingerprint touch sensors with the help of a firm called Fingerprint Cards. The new card is ISO 14443 compliant and is multi-functional. Interest in Authentication in general and Biometric access in particular, is at an all time high in technology circles now (partly due to iPhone 5s).

Zwipe was founded in 2009 and is headquartered in Norway. The management team includes Kim Kristian Humborstad (CEO), Steffen Larsen (CFO) and Pete Lowe (CTO). On December 10th, Zwipe announced that it had raised an additional $3.5 Mn in Series A funding. $2.5 Mn came from a private placement while $1 Mn was given by the Government of Norway as a grant.

“This additional funding further solidifies Zwipe’s vision of our product, our technology and the market,” said CEO Kim Kristian. “Because the Zwipe Access product is the only card on the market that protects user data by keeping biometric information on the card itself, not a remote server, our product’s potential applications in the consumer market are nearly limitless,” she added.

This is a video that shows you what Zwipe is all about:

About Zwipe’s platform:

  • The Zwipe Access card features on-card fingerprint matching utilizing fingerprint touch sensors from Fingerprint Cards (FPC).
  • The Zwipe Access card enables unique customer adaptation through multi-application functionality.
  • It is also ISO 14443 compliant, which allows the card to work with existing access control infrastructure and contactless readers.
  • Fingerprint data is stored inside the secure card and a positive match activates encrypted communication with a lock or reader.
  • Only the owner of the card can activate the card, rendering lost or stolen cards inoperable.

[widgetkit id=3385]

“Providing secure personal ID authentication in an easy-to-use portable device has been our goal. Together with FPC’s touch sensor, we have achieved this in our Zwipe Access biometric card,” said Humborstad. “The card provides a secure environment, protecting user data while still being able to communicate easily with access control systems using standard interfaces. FPC’s fingerprint sensors deliver the performance and functionality that our card product requires in an application where low power consumption and compact size are crucial.”

Fingerprint Cards AB develops, produces and markets biometric components that verify the person's identity through the analysis and matching of an individual's unique fingerprint. The technology comprises of processors, biometric sensors, algorithms and modules that can be used separately or in combination with each other. Recently, the company teamed up with security services provider Nok Nok to deliver an infrastructure solution for online authentication by making use of fingerprint sensors on tablets and smartphones.

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

Apply to Become a Contributor