The penetration of biometric payment cards is still taking its time, but we believe the market is nearing the tipping point. Zwipe’s 20 or so partnerships have resulted in around 50 negotiations with potential users. Interest in Europe among neo-banks and fintechs remains high and one larger Nordic bank has taken the next step in its pilot scheme, adding Zwipe’s mobile certification application to its online banking. We anticipate an acceleration in revenues for Pay in the coming quarters.

Interest in biometric access cards is still high, as they have been seen to help companies become compliant with EU directive NIS2. Among those testing solutions are one of the three largest cloud operators in the world, Berkshire Hathaway Energy Group, and Brazil’s Prosegur. Their tests and ongoing discussions suggest demand for Zwipe’s solutions. We thus also expect an acceleration in sales in this area in the coming quarters.

Cost savings will bolster cash flows