Zwipe, Easy Pay and KL HI-TECH will pilot Biometric Payment Cards in India
Zwipe, KL HI-TECH and Easy Pay can confirm that they will pilot biometric payment cards in India, aiming for commercial launches by summer 2022.
Easy Pay is one of the fastest growing payment brands in India whose services are used by over 2 million retail stores and millions of consumers.
Zwipe is a fintech pioneering the development of next generation biometric payment solutions.
Founded in 2014, Easy Pay has grown rapidly to become a leading payment brand for merchants and consumers in India. “Paisa Nikal” is an AADHAR Enabled Payment Service (AEPS) which has been ideated and executed by Easy Pay allowing hassle-free and safe transactions for millions of users. In 2020, it processed payment transactions worth USD 8.4 billion (expected to reach USD 12 billion in 2021). Easy Pay has now decided to issue next generation biometric payment cards in collaboration with Zwipe and KL HI-TECH, Zwipe’s manufacturing partner in India.
Speaking on this development, Nilay Patel, Founder & CEO of Easy Pay said, “We are very pleased to bring the next generation contactless cards to India, enabling world-class security, safety and experience for our customers. We see many use cases for biometrics beyond payments, for example access cards for use in hotel chains, as well as high-end real-estate and smart city projects where we have long term contracts and a demanding client base. Following internal tests and external pilots we aim for commercial launches of biometric payment cards during summer of 2022.”
Besides the core biometric card technology, Zwipe will also support Easy Pay through all stages of the pilot ensuring that end users’ experiences and feedback are systematically captured and impact on business case thoroughly assessed.
André Løvestam, CEO of Zwipe said, “We are proud to confirm our first pilot in India, one of the world’s largest and fastest growing payment markets. Easy Pay has been a pioneer in driving innovative payment services and biometrics will enable them to further drive differentiation based on security, safety, and user experience. We are delighted that our card manufacturing partner, KL HI-TECH, is part of this exciting journey which we very much look forward to pursuing together”.