The payment technology company, Zwipe announced that it has collaborated with Easy Pay and KL HI-TECH today to pilot biometric payment cards in the Indian market. Through the commercial launch in 2022, Zwipe is planning to introduce a next-generation payment experience in India.
Easy Pay, Zwipe’s partner for the latest initiative, is one of the fastest-growing payment companies in India. More than 2 million retail stores and customers are using the services of Easy Pay. Founded in 2014, Easy Pay has seen rapid growth in the last two years due to a surge in digital adoption. Last year, Easy Pay processed transactions worth $8.4 billion.
Nilay Patel, the Founder & CEO of Easy Pay, said: “We are very pleased to bring the next generation of contactless cards to India, enabling world-class security, safety and experience for our customers. We see many use cases for biometrics beyond payments, for example, access cards for use in hotel chains, as well as high-end real-estate and smart city projects where we have long-term contracts and a demanding client base. Following internal tests and external pilots, we aim for commercial launches of biometric payment cards during summer of 2022.”
In addition to the latest collaboration, Zwipe aims to facilitate Easy Pay through all stages of the pilot program.
India’s Digital Payment Sector
Due to the pandemic, India witnessed a sharp rise in digital payments. Startups working in India’s fintech sector and specifically the digital payment industry has attracted billions of dollars in funding during the last 24 months.
“We are proud to confirm our first pilot in India, one of the world’s largest and fastest-growing payment markets. Easy Pay has been a pioneer in driving innovative payment services and biometrics will enable them to further drive differentiation based on security, safety and user experience. We are delighted that our card manufacturing partner, KL HI-TECH, is part of this exciting journey which we very much look forward to pursuing together,” André Løvestam, the CEO of Zwipe, added.
