Easy Pay, a payment services provider in India, has joined forces with Zwipe and KL HI-TECH to pilot biometric payment cards in the country.
The firms plan commercial launch of the cards in summer 2022 after conducting internal trials and external pilots.
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Zwipe is a fintech that offers biometric payment solutions, whereas KL HI-TECH is its manufacturing partner in India.
The partnership will see the firm provide core biometric card technology for the pilot and support Easy Pay through all stages of the pilot in recording customer feedback and assessing the impact on business.
Easy Pay is said to be one of the fastest-growing payment providers in India, where it is used by over two million retail stores.
Easy Pay founder and CEO Nilay Patel 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.”
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By GlobalDataFounded in 2014, Easy Pay has also launched an AADHAR Enabled Payment Service (AEPS) for ‘hassle-free’ and ‘safe’ transactions.
The payment provider processed $8.4bn of transactions in 2020, which is projected to increase to $12bn this year.
Zwipe CEO André Løvestam said: “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.”
