We buy small, big, beloved and more every day. We do it in grocery stores, cafes on the corner, favorite restaurants, or small markets on the other side of the world. There are many ways to make a payment. Some feel safer than others. Proven biometric technology also brings a new level of security and convenience to contactless payment cards and wearables.
As payment methods become faster, more convenient and more common, companies are making them safer. And lots of companies making you the key to payments that you don't have to worry about. Zwipe, KL HITECH and Easy Pay have announced their next pilot project to commercialize by the summer of 2022, so the biometric card could soon be used by Easy Pay users in India.
Zwipe is a fintech company that innovates biometric payments, and its partnership with Easy Pay has led to more than 2 million retailers as Indian payment brands are rapidly becoming one of the leaders in the field. The key to reaching millions of consumers.
Easy Pay will offer Zwipe biometric cards in 2022 Founded in 2014, Easy Pay has developed and implemented Paisa Nikal, an AADHAR-enabled payment service (AEPS), enabling millions of users to make hassle-free and secure transactions.
The company will process $ 8.4 billion in payment transactions in 2020 and is projected to reach $ 12 billion in 2021.
The next-generation biometric card is the company's next step, with pilots being implemented in partnership with Zwipe and Zwipe's Indian manufacturing partner KL HITECH. The Zwipe supports Easy Pay at all stages of the pilot to systematically record end-user experiences and feedback and thoroughly assess their impact on business cases.
Nilay Patel, Founder and CEO of EasyPay said: There are many use cases for biometrics other than payment transactions, such as access cards used in hotel chains, high-end real estate with long-term contracts and a demanding customer base, and smart city projects. Following internal testing and external pilot projects, we aim to launch a biometric card commercially in the summer of 2022.
Zwipe CEO André Løvestam said: “As you can see, the largest and fastest growing payments market. Easy Pay is a pioneer in driving innovative payment services, and biometrics can further differentiate you based on security, protection and user experience. We are pleased that our card manufacturing partner, KL HITECH, is part of this exciting journey. This is a lot of fun.”
Zwipe will advance into the MENA region via Areeba. Zwipe has also identified a future biometric card pilot at an unknown medium-sized bank in Lebanon, servicing thousands of wealthy consumers in the wealth management segment. The Zwipe's only silicon biometric card platform has received widespread interest in many Middle Eastern markets. The bank is supported by areeba, one of Zwipe's strategic partners established in the region. Areeba has recently launched a biometric card pilot project with many of the region's largest banks.
Maher Mikati, CEO of Areeba Sid, describes this development as follows: “Biometric payments greatly improve the user experience and security of card payment products. We are pleased to be able to test the latest generation biometric cards with Zwipe and the leading wealth management and private banking banks in the region.”
Ramzi Saboury, General Manager of the Zwipein MENA region said: “A few weeks after the decision to issue a biometric card to a Lebanese or Iraqi customer, we are ready to work with Zwipe to use the biometric card as a service for other issuers. Pilots are confident that biometric cards will show how banks can help banks attract new customers, increase customer loyalty, and bring significant profits to their payment portfolio. Zwipe supports banks at all stages of the pilot journey to ensure a smooth pilot with an end-user focus.”
Easy Pay is an emerging payment solutions company that is opening its niche in the fintech industry. Formed by highly professional and technically advanced team members, supported by strong business ethics. The team is working on bridge solutions primarily in the areas of payment transactions and biometrics. This is India's upcoming payment domain, enabling all kinds of payments for everyone and everywhere under one roof.
Paisa Nikal is an AADHAR-enabled payment service (AEPS) developed and operated by Easy Pay, enabling fast, hassle-free and secure transactions. This futuristic model was developed to enable retailers to execute digital transactions quickly and automatically. We provide convenience and convenience to both retailers and consumers.
In addition, electronic payment services have been extended to include most of the customer community where electronic payments are not possible. Manage payments for multiple institutional investors and provide innovative solutions for expanding your business. This unique business model makes it easy to pay in multiple modes such as cash, cards, checks, online banking and e-wallets.
Based on this, Indonesia also has lots of online payments, not biometrics but with one tap payments, online wallets, and qris. These kinds of payments help people to pay easily without hassle to count the money manually or even in this kind of pandemic situation, merchants preferred to provide qris and e-wallet only, so it would lessen the contact with money and viruses.
Author: Diva Maharani | Illustrator: Akbar Nugroho
