Zwipe getting ready to drive Next-Generation Payment Cards

OSLO,Norway,July 9,2021 --

Dear stakeholders of Zwipe,

Through the first half of 2021,our global payment ecosystem of Smart Card Manufacturers,Payment Processors,Banks and Go-to-market Partners has continued to expand at a rapid pace,further strengthening our foundation for future market success.In these challenging times,our growing team of competent and passionate Zwipers,spanning 14 different nationalities in nine countriesacrossthreedifferentcontinentsand five time zonesfrom Colorado Springs to Singapore,hasdemonstratedexceptionalteamworkwith asolidfocusoncustomers.I am delighted to sharethat the interestinbiometric payment cardsbased onZwipetechnology,which delivera more convenient,secureandsafe means to pay,has never beenstronger.The voices ofconsumerscaptured byZwipeinthe UK,USA,Canada,Sweden,Norwayand Romaniasince August last yearareencouragingand consistent with similarfindings from card schemes and otherindustryplayers.

EnteringtheIndian subcontinentand APACregion

In thefirst half of 2021,weannounced six newSmartCardManufacturersintoour ecosystem:

KL HI Techin India

Beautiful Card Corporationin Taiwan

SilkwaysCard and Printing Ltdin Bangladesh

Three card manufacturers in Europe and Asia who at this stage want to remain anonymous

Together,these manufacturers deliver around200 million payment cardsannually. In addition,we extended and expanded our partnership with TAG Systems,who delivers100 million payment cardsannually. Looking forward,it is great to see that our SCM and processor and issuer pipelines continue to grow.

The encouraging developments with cardmanufacturersreceived abigboost whenAsia'slargest payment processor,Financial Software and Systems(FSS)embraced our next-generationpayment cardsplatformbased on Zwipe Pay ONE technology. FSS manages over 800 million cards,and we are now working with them to bring our ground-breaking innovation globally. We also strengthened our regional presence by appointing Masterline and SonaliIntellectLtd. as our business development partners in India and Bangladesh,respectively.

AccelerationintheMENA Regionand Europe

Middle East and North Africa (MENA)

Ontheback ofgrowing demandforbiometric payments cardsin the MENA region,Network International(NI),providing payment services to over 200 banks in Middle East and Africa,andMiddle East Payment Services(MEPS),a leading payment service provider in the Levant region,entered new partnerships with Zwipe. NI and MEPS have boosted our reach and delivery capabilities in the MENA Region,on top of our already strong network of prominent partners in the region,notablyMasria Digital Payments,Inkript,areebaandVeritech. To effectively serve our growing partner network and issuers,we appointed Ramzi Saboury as the General Manager for the MENA region. Ramzi brings over 26 years of experience and network in payment services in MENA from leadership roles in Kuwaiti banks,VISA and areeba.

Europeand the UK

In the past few months,we have seen an increasing in-flow of interest from card manufacturers in multiple regions,most notably in Europe. The same can be said for issuer engagements that come through our Processor Partners and Card Manufacturers in Europe,especially in the UK and Nordics. This is proof that our "Megaphone" partner strategy works! Swedish fintechVOPY,providing embedded financial services to clients globally,and France-based payment service provider,be ys Pay,selected Zwipe Pay ONE (ZPO) cards for their ssuers,aiming to pilot Zwipe Pay ONE this year. Both these developments came within months of OP Bank's decision to pilot with cards based on the Zwipe Pay ONE platform togheter with our Go-to-market partner,TietoEVRY. OP is Finland's largest financial services group and serves over four million customers.

Delivery ofZwipe Pay ONEon track

We had strong progress in the development of Zwipe Pay ONE,the world's first Single Silicon based biometric payment platform offered to card manufacturers globally. In April 2021,we demonstrated our enrollment solution and touch-free payment transactions above the transaction cap at a Point-of-Sales terminal with test keys to emulate fully EMV authorized and authenticated transactions in a live environment. The feedback from the market was very positive as everyone could see how these cards quickly and reliably provide a considerable boost to user experience and security.

In fact,we have now passed most critical milestones and major risk points,with only piloting and certification left before commercialization in mass volumes.

Next steps– pilots and certification

Apart from pilots planned from late this quarter,certification will represent the lastmilestonebefore commercialization. We have already performedpre-tests ataccreditedtest labswithexcellentresults.

Weare now working closely withthecard schemes tosecure these processes,which will be explained in detail during ourH1 2021 reporting on 26 August.In the coming weeks,we will start handingoutZwipePayONEdemo cards toissuersandpartners andcontinue tohelpthemprepare forcommercial launches.

Zwipe 2.0

Last,but not least,H1 2021 has seenfurtherstrengthening of our team across all functions – commercial,technical,operational and regional. We have engaged every Zwiper in developing and honing our Winning Team Culture,with our Core Values driving us to be Innovative,Collaborative,Adaptable and Passionate. Each recruitment is intended not only to add capacity,but also to uplift our team.I am alsopleasedto see further strengthening of our board.

I take this opportunity to thank each member of the Zwipe team for their remarkable effort and passion to our mission of Making Convenience safe and secure. My thanks also go out to all our customers,partners,and shareholders for sharing this mission as strongly as every Zwiper.

I wish each one of you a very safe and happy summer ahead!

For further information,please contact:

Lars Kristian Solheim

CFO

+47 991 66 135

lars.kristian@zwipe.com

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Zwipe Summer Greetings 2021

https://news.cision.com/zwipe-as/i/summer-greetings-2021,c2934990

Summer Greetings 2021