Biometrics firm, Fingerprint Cards AB and Mswipe, which claims to be one of India’s leading end-to-end digital enablers for SMEs will collaborate and “bring biometric debit and credit card to India, targeting 940 million active payment card customers.”
Further, Fingerprint’s “proven” biometric technology along with Mswipe, who is India’s largest independent mobile POS merchant acquirer & network provider, “will also target around 100,000 existing customers.”
The collaboration will “feature Fingerprints’ T-Shape® module and software platform.”
Michel Roig, President of Payments & Access at Fingerprints, stated:
“We are happy to collaborate with Mswipe, being a leader of digital payment provider in India. With the wide partner portfolio secured by Mswipe, we truly believe adding biometric solutions to their product range will add convenience and easy payments for merchants and consumers in the region. Contactless and digital payments are growing fast in India, as consumers are choosing touch-free, safe and seamless ways to pay.”
Manish Patel, MD, Mswipe, remarked:
“We selected Fingerprints’ biometric solution as the leading technology in the market. It offers proven biometric performance and the lowest power consumption, features which are of the highest importance for contactless biometric cards. Introducing biometric payment cards offers great benefits for our merchants and consumers alike, as contactless payments in India to continue to grow quickly.”
As noted in a release, Fingerprint Cards AB (Fingerprints) – “the world’s leading biometrics company, with its roots in Sweden.”
They believe in “a secure and seamless universe, where you are the key to everything.”
Their solutions are “found in hundreds of millions of devices and applications, and are used billions of times every day, providing safe and convenient identification and authentication with a human touch.”
As mentioned in the update, Mswipe “is one of India’s largest financial services platforms for SMEs providing seamless, omnichannel digital payments and other value-added financial services.”
It is “the largest independent mobile POS merchant acquirer and network provider with 6.75 lakh POS and 11 lakh QR merchants across the country. Mswipe offers a host of payment acceptance services for SME’s enabling them to accept – cards, wallets, mobile payment apps and bank apps, contactless and QR payments.”
Headquartered in Mumbai, Mswipe “began operations in 2011.”
Its key investors “include B Capital, UC-RNT, Falcon Edge Capital, Matrix Capital Partners, DSG Partners and Epiq Capital.”