Biometric technology company Zwipe was introduced this week to major card manufacturers and companies working in Fintech by Monica Mæland, the Norwegian Minister of Trade at a seminar organized and hosted by Zwipe’s partner in Japan, Hitachi High-Technologies.
The purpose of the visit by the Minister was to meet with Japanese and Norwegian businesses working together in Japan seeking to strengthen the strong cooperation between the two nations. With an emphasis on innovation, especially in Fintech, the Norwegian government has expressed a strong interest to support companies like Zwipe.
The cooperation between Hitachi High-Technologies and Zwipe was formalized with the outlook to collaborate on both technical and business development objectives. The Japanese market for both e-money and payment cards is fast growing as the people’s preference to use cash is shifting towards more secure and convenient alternatives. As much as 40% of all transactions are currently made with cash, according to the Japanese Fintech Association. In parallel with this shift the Japanese payment industry is recognizing the importance of adopting open world standards, targeting the Tokyo Olympics in 2020 as the critical deadline for changes. This activity is supported by the Ministry of Economy, Trade and Industry (METI). Additionally, biometric access control is seeing significant interest in the Japanese market, with many biometric alternatives already being adopted.
“At Hitachi we believe in collaborative creation and that is why we have partnered with Zwipe. The solutions offered by Zwipe in regards to payment, access control and ID provide complimentary offerings to our already strong and innovative solutions mix” said Ichiro Matsuba, General Manager, Electronic Components & Materials, adding “ we have already deployed Zwipe Access solutions in the market here in Japan and we have seen significant interest for both Zwipe payment and ID solutions.”
Zwipe was represented at the seminar by their SVP of Sales and Marketing, Einar Boije, who held an hour-long presentation to potential customers, representing major card manufacturers and companies working in Fintech. The presentation focused on familiarizing the attendees with Zwipe’s offerings as well as detailing Zwipe’s go-to-market strategy in Japan.
Speaking on the event, Einar Boije commented “ We are very honored to be working alongside our partners Hitachi High-Technologies and to have such positive support from the Norwegian government. Zwipe’s global expansion strategy is to establish and build strong partnerships with industry partners who have significant market impact and a high level of competence. With Hitachi’s market expertise and network we were able to bring together many important decision makers in the same room providing our partnership a real opportunity to take our business in Japan to the next level.”