The investment comes from Photon Future, a wholly owned subsidiary of Shenzhen-based high-tech holding group Kuang-Chi Group.
Zwipe says the Series B funding — which brings its total raised since 2009 to USD 11 million — will be used to accelerate commercial deployment, and also for additional R&D activities.
The Zwipe tech embeds a fingerprint reader into a contactless payment card without the need for the card to include a power source — instead relying on payment terminals to power the fingerprint reader, using what it says is a patented energy harvesting technology.
The user’s fingerprint data remains stored on the secure element on the card to minimize the risk of interception. To use the card to authorize a payment, the user places their finger on the fingerprint reader as they swipe their card over a contactless payment terminal, or insert it into a Chip and PIN terminal.
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