Strengthening the power of collaboration: Zwipe and Infineon extend their partnership
June 18, 2019 at 08:34 am EDT
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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 (FSE: IFX / OTCQX: IFNNY), have extended their partnership through a long-term agreement. The cooperation is non-exclusive. The agreement 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 card system designs for mass deployment of biometric smart devices, including payment cards and wearables.
The cooperation is concentrating on so called 'Tap and go payments' with biometric cards which are gaining in popularity. They can significantly improve the user experience without compromising on security while meeting 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 now 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 added, '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 bill of material.
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 Zwipe:
André Løvestam, CEO
+47 930 44 040
info@zwipe.com
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Infineon Technologies AG published this content on 18 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 June 2019 12:33:02 UTC
Infineon Technologies AG is one of the world's leading manufacturers of semiconductors. The group's products include power semiconductors, sensors, microcontrollers, digital, mixed-signal and analog ICs, discrete semiconductor modules, switches, interface ICs, motor-controlling ICs, RF power transistors, voltage regulators, and electronic safety components. Net sales break down by area of activity as follows:
- automotive (50.5%): semiconductor products used in the automotive industry, and memory products for specific applications for automotive, industrial, information technologies, telecommunications and consumer electronics.
- power & sensor systems (23.3%): semiconductors for energy-efficient power supplies, mobile devices, mobile phone network infrastructures, human-machine interaction as well as applications with special demands on their robustness and reliability.
- industrial power control (13.5%): semiconductor products for the conversion of electrical energy for small, medium and high-power applications, used in the manufacturing, the low-loss transmission, the storage and the efficient use of electrical energy;
- connected secure systems (12.6%): semiconductors for networked devices, card-based applications, and government documents; microcontrollers for industrial, entertainment, and household applications, components for connectivity systems, various customer support systems;
- other (0.1%).
Net sales are distributed geographically as follows: Germany (12.4%), Europe/Middle East/Africa (14.4%), China/Hong Kong/Taiwan (32.3%), Japan (10.5%), Asia/Pacific (15.9%), the United States (12.1%) and Americas (2.4%).