Singapore is ready for Biometric Payment Cards

SINGAPORE – Media
OutReach – 8 February 2022 – Zwipe, a biometric fintech pioneer, conducted
a comprehensive consumer investigation in Singapore during Q4 2021 to study 150+
consumers’ payment preferences and feedback on biometric payment cards.
Consumers’ feedback on biometric payment cards was extremely positive,
indicating a strong demand for biometric payment cards.

Below are some interesting facts from the survey:

  • 88% of consumers
    would prefer their next payment card to be biometric
  • 70% of consumers
    are ready to switch to a new bank for a safer way to pay
  • 80% of consumers
    have concerns on the risk of infection when paying in-store and touching the
    POS

The survey’s findings are consistent with data
available from other worldwide studies undertaken in the Nordics, Canada, USA,
UK, Germany and South Africa. Consumers across the world, just as in Singapore,
want a payment solution that delivers world-class security and user experience
and ensures 100% touch-less check out at all times.

Zwipe: A biometric fintech pioneer

Founded
in 2009 with the mission to make “convenience safe and secure” through the use
of biometric technologies, Zwipe has today emerged as a pioneer in NxtGen
payment solutions. The company believes that the inherent uniqueness of every
person is the key to a safer future. Zwipe works across networks of
international organizations, industries and cultures to bring biometric payment
solutions globally.

­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­Headquartered
in Oslo, Norway, Zwipe’s growing team is represented by 14 different
nationalities in nine countries across five time zones – from Colorado Springs
to Singapore.

Strong demand for Biometric Payment Cards

According to Claus Hansen,
Zwipe’s newly appointed VP of Sales for APAC, “The payments market in Singapore is mature and
sophisticated, with banks and fintechs offering highly digital services for
retail, e-commerce and mobile financial services. The more-traditional smart
card segment is the area where Singaporean consumers are now expecting card
issuers to step up. The Zwipe Pay
platform, which includes a single silicon biometric system on the card, is a
game-changer in the payments sector as it has dramatically reduced the unit
costs and improved the biometric performance ensuring an excellent user
experience.”

He further
highlights, “Consumers value convenience, security, and safety when selecting
and using a payment method. As such, Zwipe is well positioned to provide cutting-edge
card-based solutions that enable our clients in APAC to respond to market
demands, while also establishing ourselves as the strategic technology partner
of choice.”

Hansen has worked in payment technologies,
cybersecurity, fintech, and smart cards for over 25 years. In the APAC region,
he has held senior executive management positions with Entrust, NXP
Semiconductors, Gemalto, dzcard, and Kona I.

 

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