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Making Convenience Safe and Secure
Zwipe interim report – First Half 2021
26 August 2021 | André Løvestam, CEO
AGENDA
1. Highlights from H1 2021 Interim Report
2. Quick introduction to Zwipe
3. Why will biometric payment cards reach annual volumes of hundreds of millions or even a billion globally by the end of this decade?
4. Why should banks embrace biometric payment cards as an opportunity for new profitable revenue?
5. Why is Zwipe the natural choice, having a superior end-to-end offering for banks?
2
Strong Customer & Partner Developments YTD 2021
3
426 August 2021
The strong operational momentum continues in 2021
Customers (SCMs) Announced 6 new customers: card manufacturers with almost 200 million payment cards shipped annually
Partnerships
Extended partnership with TAG Systems, who delivers 100 million cards annually
Partnered up with large processors FSS, Network International and ICPS, and be ys Pay, as well as with
Masterline and Sonali to ensure local presence in India and Bangladesh
TechnologyThe Zwipe Pay ONE project has passed most critical milestones and major risk points
Fully functional Zwipe Pay ONE demo cards and enrolment solutions presented and show-cased
Global Tier 1 smartcard manufacturer is evaluating Zwipe Pay ONE platform
CommercialZwipe Pay ONE pilots announced with Vopy and MEPS, with pipeline of pilots building
BCC placed a commercial order of MNOK 16.8 ($1.9m) for Zwipe Pay ONE in August
Consumer insightsZwipe and partners conducted several insights studies from the Nordics, UK, US and Romania showing strong
consumer interest for safer and more secure payments with high willingness to pay
Organization
Significantly strengthened our organization to meet the demand with new key positions, while also recruiting a regional
General manager for the MENA region.
Established wholly owned subsidiaries in the UK and Germany to support the global mass-market deployment
Sustainability Significant effort to address environmental considerations when making Zwipe Pay ONE Cards and enrollment
526 August 2021
Strong financial development first half 2021
Revenues • MNOK 1.4 (MNOK 0.9)
OpEx
• MNOK 28.0 (MNOK 32.4)
• Adjusted for 3rd instalment in joint development project with Idemia in Q2 2020 of MNOK 10.6, OpEx increased by
MNOK 6.2 – in line with expectations
EBITDA and
earnings per share• EBITDA was MNOK -25.4 (MNOK -30.7), and earning per share NOK -0.89 (-1.25)
Cash flow• Cash flow from operations and investments, before financing and facilitation, improved to MNOK -31.2 (-39.6).
• Adjusted for one-off payments in first half 2020, negative operating cash flow increased by MNOK 0.6 to MNOK 5.2 per month
Bank deposits (cash) • MNOK 94.9 (MNOK 43.2)
Equity and shares• MNOK 98.2 (MNOK 49.9), equity ratio of 90% (74%), and
Total outstanding shares increased by 29% to 32.9 million shares.
626 August 2021
The big picture: It’s all coming together
The market for biometric payment cards is happening now - with increasing traction from issuers
The long-term market potential of BPC is far greater than anticipated – from niche to mass market
Zwipe is successfully building the foundation for a leading position in a massive, global market, with excellent
long term value creation potential:
✓ strong team
✓ strong technology
✓ strong operational progress across all functions
✓ strong market traction and engagement among all customer groups and regions
✓ strong pipeline and outlook
✓ strong and effective go-to-market strategy
✓ strong execution
✓ strong confidence and excitement in all of the above
AGENDA
1. Highlights from H1 2021 Interim Report
2. Quick introduction to Zwipe
3. Why will biometric payment cards reach annual volumes of hundreds of millions or even a billion globally by the end of this decade?
4. Why should banks embrace biometric payment cards as an opportunity for new profitable revenue?
5. Why is Zwipe the natural choice, having a superior end-to-end offering for banks?
7
826 August 2021
Passive InlayISO Contact Plate Modulewith biometric SE
Fingerprint Sensor
Zwipe is a biometric fintech company pioneering the next generation contactless payment experience
✓ HQ in Oslo, Norway, global team
✓ A long history of «world’s firsts» in the
industry
✓ Global technology performance and cost leadership
position with one stop shop offering
✓ Global, fast-growing partner network
✓ Listed on Nasdaq First North in Stockholm and
Euronext Growth in Oslo
AGENDA
1. Highlights from H1 2021 Interim Report
2. Quick introduction to Zwipe
3. Why will biometric payment cards reach annual volumes of hundreds of millions or even a billion globally by the end of this decade?
4. Why should banks embrace biometric payment cards as an opportunity for new profitable revenue?
5. Why is Zwipe the natural choice, having a superior end-to-end offering for banks?
9
1026.08.2021
Next Generation Contactless Payments …World’s first single silicon biometric payment card
Extracts energy from standard terminal/card reader
through energy harvesting (NFC) technology. No battery.
No need for transaction limits on contactless payment
Power is harvested from standard infrastructure
I am me
- Faster and more convenient with PIN, and more secure.
- Biometric data are encrypted stored and processed only
in the EMV certified secure element in the card
Live biometric authentication on card
Biometric payment cards combine the convenience of contactless with the security of biometrics to enable totally contact free payments
Value Propositions for Consumers
Enabling fast contactless
payments every time
(above or below
transaction limits)
SECURITY
Only the authorized user can
complete transactions
No PIN which can be stolen
CONVENIENCE SAFETY
Allows the user to avoid
touching payment terminals
regardless of the amount
PRIVACY
User’s biometric information is
encrypted and stored only in
the secure element in the card
and nowhere else
INNOVATION
Brings novelty and coolness
factor to cardholders
1226 August 2021
Zwipe has now surveyed almost 2000 cardholders in the US, Canada, UK, Norway, Sweden and Romania to capture their payment preferences and views on Biometric Payment Cards
70% of the cardholders want a completely touch-free checkout experience and 60% are willing to pay for this experience
Zwipe Insights evidence soaring demandStrong consumer willingness to pay
79%
21%
8 out of 10 consumers want their next payment card to be biometric
YES NO
I would be interested in a new payment method that offers a completely touch-free experience
No, I would prefer using my current payment card
70,3%
29,7%
51% of the cardholders would consider switching to a new issuer who could offer a biometric payment card
YES NO
51%
49%
Differentiate and uplift
payments portfolio
Easy implementation and
global acceptance
Improved cardholder
security
Demonstrate Leadership
in Pandemic
Create revenue impact and
effective segmentation
Drive loyalty, card usage and
customer acquisition
Value Propositions for Issuers Differentiation - Revenue impact - Loyalty - Easy implementation
1327.07.2021
A strong business case for issuers
Additional revenues (not included here) will
come from
- Accelerated customer acquisition (almost
50% end users expected to connect with a new
bank for biometric payment cards)
- Higher transaction volumes (due to improved
user experience)
14
A conservative estimation from higher card fees for a bank with 1 million cards converted to biometrics*
# Card holders with biometric solution 1,000,000
Annual fee card holders are willing to pay $ 24/year (vs. $ 12-60/year in Nordic study)
> Revenues per year from higher card fees = 1,000,000 x $ 24 = $ 24 million
* Based on Zwipe insights
** RedEye analysis and calculations in report as of 24 November 2020
Additional positive revenue effects ($m)**
Fraud prevention 1.5
Top of wallet effect 1.5
Increased card transactions 0.4
= Total $ 3.4m per year in additional revenues for the issuers
Total additional revenues per year: $ 27.4 million
Most importantly, BPCs represent an opportunity for banks to accelerate
customer acquisition, uplift loyalty and create new revenue streams
AGENDA
1. Highlights from H1 2021 Interim Report
2. Quick introduction to Zwipe
3. Why will biometric payment cards reach annual volumes of hundreds of millions or even a billion globally by the end of this decade?
4. Why should banks embrace biometric payment cards as an opportunity for new profitable revenue?
5. Why is Zwipe the natural choice, having a superior end-to-end offering for the players in the payment value chain?
15
Mass-market price inflection point in sight with Zwipe poised for cost and technology leadership with single silicon solution
Discrete Components Single Silicon
Industry Progression: Component Integration with radical complexity-down, size-down, cost down
2017 - 2021 2020 - ? 2021 onwards
Multi-die System in
Package (SiP)
Zwipe’s strategic partnership with IDEMIA is on
track to deliver this radical unit cost reduction.
Most major risk points are already passed, with
remaining hurdles before commercialization
and mass volumes being pilots and
certification.
• Replaces the Secure Element, Microcontroller
and >30 components with a single chip
• Offers best in class biometric performance and
energy efficiency
• Enables radical cost reduction, highly
competitive production costs and mass volume
market take-off
• Zwipe retains worldwide exclusive distribution
rights for the lifetime of the product to all
manufacturers of payment cards, wearables
and other payment solutions (except IDEMIA),
and also to their suppliers
• High bill of material
• High production costs
(due to cold lamination process)
• Expensive yield loss
Confidential26.08.2021
Zwipe Pay ONE Key Features for Issuers and Users
1st genTechnology
Zwipe Pay ONE
Longer read range at POS:Much better user experience
Competitive Unit Cost:Simplified and improved manufacturing process
Excellent fingerprint performance:Large sensor offering greater user accuracy
Latest Biometric Technology:Zwipe Pay ONE brings all the latest technology into ONE card
Mobile App enrollment being developed:Zwipe already has a functioning Beta version.
The Zwipe Pay ONE single silicon platform represents the highest level of component integration, offering a cutting-edge and future-proof design with fundamental benefits:
1826.08.2021
Zwipe Pay ONE – a modular, turn-key solution
Optional Packages
5. Biometric-aware payment applet:
VISA VBSS | Mastercard M/Chip Advance |
Local Schemes
6. Fingerprint Sensor
7. Prelaminate sheets
8. Enrolment solutions
Fingerprint Sensor
Idex IDX3405 for post-placement
Zwipe Pay ONE Basic Package
1. ISO Contact Plate Module
2. Biometric Java Card OS
3. Inlay & Card reference designs
4. Integration Support
1 2
3
Prelaminate sheetsmade to customer specification
6
7
5
8
19
Zwipe's role is to enable, raise awareness, and interact with all stakeholders
Enrollment SolutionsCard Body
*) WEEE: Waste from Electrical and Electronic Equipment
Passive InlayISO Contact Plate Module
with biometric SE
Fingerprint Sensor
• Zwipe is committed to bringing a recycled PVC card
to certification within 2022.
• Battery-less inlay ensures no adverse environmental
impact.
• Enrollment sleeve is WEEE* compliant and can be disposed of
safely by separating the plastic, PCB and battery.
• The sleeve is also reusable for multiple users, re-use
programs can be implemented by banks.
• Mobile/app-based enrollment (under development) would
make customer boarding fully digital, meaning radical
reduction in waste, complexity, and cost.
Zwipe Pay ONE Cards address Environmental Considerations
2126 August 2021
What makes Zwipe stand out from the crowd?
Zwipe’s competitive position is
built on the combination of our: Zwipe Pay ONE will offer card
manufacturing customers a solution with
superior energy efficiency and biometric
performance at highly competitive cost
levels
The first-of-its-kind solution
We also offer professional services to
banks and issuers on biometric payments,
consumer insights, marketing,
presentation and pilot execution services
Completely end-to-end
• Technology cost and performance leadership
• One-stop-shop offering with complete turn-key
solution
• Aggregator role → better prices
• Value-adding trusted advisor
• Full focus and dedication to biometric payments
• Passion, agility, innovation and collaboration
• Innovative approach
2226 August 2021
Partnership with Thomas Greg & Sons do Brasil, to enable Latin American marketplace
Partnership with Inkript, to strengthen position in the Middle East, Africa and Central Asia
Partnerships with Goldpac, XH Smart Technology, Silone Cardtech, Toppan Forms Card Technologies, Asia Credit Card and Watchdatasolidifying ability to service issuers in APAC region
Partnership with dz card,strengthening capacity to support issuers in Southeast Asia
Long standing collaboration with CPI Card Group, largest domestic card manufacturer in the United States
Long standing collaboration with Thales (Gemalto), world’s largest card manufacturer
Partnership with TAG Systems, to unlock the fast-mover approach of European-based Challenger Banks
Selected by Giesecke + Devrient to develop biometric wearable
Partnership with AllCard Inc. to address opportunities in the Philippines
Partnering with Idemia to offer disruptive biometric payments card platform
Partnership with MasriaDigital Payments, to strengthen position in the Middle East, Africa
Partnering with Publicenter to offer biometric payment solutions
Fast-growing global and growing cards supplier network… as of Nov 2020
November
2020 Partnering with TietoEvry to accelerate
commercialization of Zwipe Pay ONE
26 August 2021
Partnership with Thomas Greg & Sons do Brasil, to enable Latin American marketplace
Partnership with areeba and Inkript to address demands in the Middle East, Africa and Central Asia
Goldpac, XH Smart Tech., Silone Cardtech, Toppan Forms Card Tech., Asia Credit Card and Watchdata in APAC region
Partnership with dz card,strengthening capacity to support issuers in Southeast Asia
Long standing collaboration with CPI Card Group, largest domestic card manufacturer in the United States
Long standing collaboration with Thales
Selected by TAG Systems to unlock the potential from European Challenger Banks
Selected by Giesecke + Devrient to develop biometric wearable
Partnership with AllCard Inc. to address opportunities in the Philippines
Partnering with Idemia to offer disruptive biometric payments card platform
Partnership with Masria Digital Payments, for the Middle East, Africa
Selected by Publicenter to offer biometric payment solutions
Partnership with KL HI TECH adds to delivery capability in India and MEA Regions
Chosen by TAG Nitecrest to bring Zwipe Pay ONE to UK Issuers
Partnering with TietoEvry to accelerate commercialization of Zwipe Pay ONE
Partnership with VeriTechto deliver next generation contactless payments in Kuwait
Parntering with Beautiful Card Corporation in Taiwan for production of BPCs
Partnership with Silkways Cards & Printing adds to delivery capability in Bangladesh
Partnership with Network International and MEPS to address growing demand in Levant and MENA region
Partnering with be ys Pay to bring ZwipePay One to France and the Benelux
Partnership with FSS to bring Zwipe Pay ONE to issuers globally
Partnership with ICPS to bring Zwipe Pay ONE to banks across Africa and Asia
Fast-growing global and growing cards supplier network…as of Aug 202124 collaborations with SCMs have been announced (of which 3 are currently anonymous).In addition, Zwipe has partnered with multiple processors and perso-bureaus globally.
August
2021
2426 August 2021
Strong testimonials from our customers and partners
2526 August 2021
Revenues Annualised revenues of NOK 1 billion
VolumeExternal predictions of global sales of Biometric Payment Cards vary. Leading analyst firms UBS and Goode Intelligence
are projecting 15 % and 20 % penetration by 2026 respectively.
ASP Targeting $3-4 ASP for Zwipe deliverables per biometric payment card or wearable.
Gross MarginWe target healthy gross margins.
Our main competition is in the semiconductor industry, traditionally enjoying margins in the 40 % range.
EBITDA margin Zwipe has a very scalable business model, targeting an EBITDA margin of 20%, rising with volumes.
Break Even Volume Cash flow break even expected at 6m units (annual volume).
Current Financial
statusMonthly spending and cash flow is according to plan and previous announcements.
Lean and scalable business model ready for growthHere are our key medium term financial aspirations:
2626 August 2021
Announced partnership
with Wisecard
Technology, a leading
supplier of EMV
personalization and
payment solutions to
support the co-
development of card
personalization
offerings for Zwipe Pay
family of products and
solutions
August 20, 2020
Announced partnership
with
Cardmatix on mass-
production of Zwipe Pay
ONE. Cardmatrix is a
leading player
in industrial
manufacturing and
testing equipment
specifically for mass
production of
payment cards
September 14, 2020
Announced partnership
with TietoEVRY to
deliver biometric
payments to banks in
the Nordic and Baltic
regions
October 8, 2020
HIGHLIGHTS: Last ~ 12 months’ rolling news flow – 1 of 4
Announced
partnership with
areeba to bring
nxtgen biometric
contactless
payments to banks in
the Middle East &
Africa
Announced partnership
with Inkript to launch
Zwipe Pay ONE in the
Middle East, with
Inkript placing an order
to Zwipe commencing
small scale
manufacturing of
biometric payment
cards
October 14, 2020 October 15, 2020
Announced order of
300,000 sensors from
IDEX Biometrics to
support the rollout of
Zwipe Pay ONE to a
growing list of smart
card manufacturers
and issuers in Europe,
the Middle East, the
Americas and Asia
Launched Swedish
market study with
TietoEVRY showing
large interest in
biometric cards in
respons to Covid-19
in-store payment
concerns
October 19, 2020 November 17, 2020
2726 August 2021
Zwipe Pay ONE in first
biometric payment
card pilot in the
Nordics, with OP
Financial Group,
TietoEVRY and Tag
Systems
November 23, 2020
Announced partnership
with Veritech to
provide key
components for the
Zwipe Pay ONE
biometric payments
platform and take lead
on providing advisory
services directly to
banks and card
issuers in close
collaboration with
VeriTech.
December 3, 2020
Zwipe and Idemia
announced that the next
generation biometric
card secure chip they
are co-investing in,
has obtained the ICCN
security certificate
from EMVCo, as
planned. Zwipe has
worldwide exclusive
rights to this
disruptive single-chip
biometric technology
December 23, 2020
HIGHLIGHTS: Last ~ 12 months’ rolling news flow – 2 of 4
Announced partnership
with Vopy which aims
to launch a pilot in Q3
2021. Vopy aims for
an initial rollout from
Q4 2021, starting with
100.000 biometric
payment cards by the
end of this year and
500.000 cards in 2022
Announced four new
partnerships with
prominent card
manufacturers in
Asia-Pacific and
Europe which have
chosen the Zwipe Pay
ONE platform for
delivering biometric
payment cards to the
issuers, targeting pilots
before the end of 2021
February 3, 2021 February 10, 2021
Tag Systems steps up
collaboration, placed a
small order and will
proactively promote
Zwipe Pay ONE
towards issuers and
partner bureaus in
Europe and the USA
to sell and market
next generation
payment cards
After evaluating
available alternatives
KL HI-TECH selected
Zwipe Pay ONE as their
preferred biometric card
platform. India’s
second largest SCM
aim to manufacture
Zwipe Pay ONE test
cards from Q2 2021,
pilot ZPO from Q3 and
have first full market
launches end of 2021
March 2, 2021 April 6, 2021
2826 August 2021 28
HIGHLIGHTS: Last ~ 12 months’ rolling news flow – 3 of 4
French payment
solutions provider be
ys Pay selects Zwipe
Pay One for their BPC
in France and Benelux,
engaging with issuers
from Q2 2021 with the
ambition to deliver
pilots from H2 2021
April 7, 2021
Appointing Ramzi
Saboury as GM for the
MENA Region and
Masterline as a
Strategic Business
Partner in India to
strengthens
engagements
towards banks,
bureaus and
manufacturers in
those two key
regions
April 12, 2021
The FSS partnership
will help the
deployment of ZPO
Biometric Cards
globally. FSS is one of
the world’s
largest within cards
and payments services
to banks managing a
portfolio >800 million
cards. FSS and Zwipe
will work to initiate
pilots and early
commercial deliveries
from later in 2021.
May 10, 2021
Beautiful Card
Corporation has
completed rigorous
tests of Zwipe Pay
ONE with very good
results. They will scale
up production with the
aim of delivering pilots
and commercial
deliveries before the
end of 2021.
May 11, 2021
Middle East Payment
Services (MEPS) will
bring next generation
contactless payment
cards in the MENA
region by combining
MEPS’s Issuance
Platform with our Zwipe
Pay ONE biometric card
platform. MEPS are
aiming to make BPCs
available for piloting
and commercial
deployment during H2
2021
June 3, 2021
Silkways Card &
Printing Ltd (Silkcard)
selects Zwipe to deliver
Zwipe Pay ONE
powered biometric
payment cards in
Bangladesh. Silkcard
will manufacture and
personalize biometric
card payments for
issuer clients while
Zwipe will help the
banks through all
stages of pilot, launch
and mass market rollout
June 16, 2021
Zwipe establishes local
representation in
Bangladesh appointing
Sonali Intellect
Limited as sales and
strategic business
development partner
to help banks, card
personalization bureaus
and processors to
support Zwipe Pay ONE
cards with the ambition
to deliver pilots later this
year
June 18, 2021
2926 August 2021
HIGHLIGHTS: Last ~ 12 months’ rolling news flow – 4 of 4
Network International
(NI) selects Zwipe to
deliver biometric
payment cards to
banks in the Levant
region. Zwipe will
provide support and
cards will be delivered
by a 3rd party SCM, thus
NI can focus on
delivering Zwipe Pay
ONE powered cards to
issuers
June 24, 2021
ICPS, a leading
international card
payment processor and
card personalization
bureau will bring Zwipe
Pay ONE enabled
biometric payment
cards to banks across
Africa and Asia. Zwipe
will provide Biometric
ISO contact plate
module, Passive inlay,
Fingerprint sensor, OS
license and enrollment
sleeves.
July 16, 2021
A Global Tier 1
smartcard
manufacturer are
evaluating Zwipe Pay
ONE components
for inhouse
manufacturing of
biometric payment
cards. Zwipe Pay ONE
is designed to be mass
market ready,
delivering improvement
in both the consumer
experience and the
commercial benefits
July 23, 2021
Zwipe receives USD
1.9 million commercial
order from Beautiful
Card Corporation. The
order covers the supply
of modules, sensors
and inlays, enabling
BCC to be one of the
first manufacturers to
bring significant
volumes of this next
generation of biometric
payment cards to
market.
Aug 3, 2021
Middle East Payment
Services (MEPS)
and Zwipe will launch a
pilot of Biometric
Payment Cards based
on the Zwipe Pay ONE
platform to top-level
executives and key
decision makers at up
to 20 banks and
issuers
in the Levant region.
The pilot will be conclu-
ded in Q4 2021 with
Zwipe Pay ONE Cards
delivered from Inkript.
Aug 16, 2021
We now have a
stronger
pipeline than ever
3026 August 2021
Final milestone: certification
Zwipe does not seek payment scheme certification for the finished card product, our SCM customers do.
Certain critical certifications have already been obtained, e.g. EMVCo security certification of the secure element
(ICCN) which was secured in December 2020.
To simplify the certification process for our customers, Zwipe plans to secure a component level certification from
schemes which our customers can reference, simplifying their process. As part of this process, Zwipe will have
already performed 90% of the required testing which greatly reduces the test scope for our customers.
To thoroughly validate the performance and robustness of our design before certification process starts, Zwipe is
undergoing a program of pre-testing, called “debug testing”.
Debug testing is typically performed for the most critical items, such as interoperability with multiple brands and
generations of payment terminals. We have already performed such pre-tests at accredited test labs with
excellent results.
3126 August 2021
The big picture: It’s all coming together
Final take-away:
The market for biometric payment cards is happening now - with increasing traction from issuers
The long-term market potential of BPC is far greater than anticipated – from niche to mass market
Zwipe is successfully building the foundation for a leading position in a massive, global market, with excellent
long term value creation potential:
✓ strong team
✓ strong technology
✓ strong operational progress across all functions
✓ strong market traction and engagement among all customer groups and regions
✓ strong pipeline and outlook
✓ strong and effective go-to-market strategy
✓ strong execution
✓ strong confidence and excitement in all of the above
3326 August 2021
This is Zwipe
Addressing a 4-billion-unit market
characterized by growth from innovation
Mass-market price inflection point in sight, with
Zwipe positioned for technology and cost
leadership with disruptive technology and strong IP portfolio
Unique one-stop-shop offering, with end-to-end
systems integrator approach and trusted advisor role
Fast-growing customer and partner base with global coverage
Soaring demand due to COVID-19, strong
consumer willingness to pay
Lean and scalable business model ready for growth
Strong company culture, management and board
1
2
3
4
5
6
7
3426 August 2021
Dedicated Management Team with a deep understanding of ecosystem, industry, technology, and company
25 years of C-level
experience, incl. CEO of
Orkla snacks (KiMs),
Tomra Europe,
Telecomputing,
Umoe IKT, Eneas and
Kjedehuset
Proven track record of
commercial success
from a variety of
industries and markets
André LøvestamCEO
Extensive experience
working at top
management positions at
EY and more recently at
the C-level, incl. CFO of
NetCom/TeliaSonera
Solid track record in the
areas of M&A, financial
governance and
business planning
Lars Kristian Solheim
CFO
Dr. Robert Mueller
CTO
John Goodale
CCO
Over 20 years’
experience in senior
technical development
positions focusing on
biometrics and smart card
technology at leading
companies such as
Siemens,
Giesecke+Devrient and
BMW. His most recent
role was serving as Chief
Technology Officer at
Next Biometrics.
19 years in senior sales
and business
development roles at
TSYS
15 years in professional
services at i.a. KPMG and
DMR Consulting
Recognized for thought
leadership across many
payment concepts in
multiple European
markets and strong
understanding of the
global financial market
Eric Mercer
COO
Bishwajit Choudhary
EVP Financial Inst. & Alliances
Over 20 years payments
industry experience,
having previously worked
as Group SVP Strategy
at NETS as well most
recently CCO at
Usertribe
Strong track record of
leading new business
initiatives, customer
advisory, strategic
alliances and fintech
partnerships
Over 20 years at large
and small technology
development companies
including 10 years with
Intel Corporation
Leadership experience in
Program Management,
Operations, Supply
Chain, and Finance
3526 August 2021
Highly Experienced Board of Directors with diverse, deep industry knowledge and complementary skills
A recognized authority on
payment products, and
services
More than 35 years’
experience as an
executive, advisor and
investor in the information
technology and telco.
Industry
Previously served in
global roles at Visa
International and
MasterCard
Former CEO of Fingerprint
Cards
20+ year experience from
various positions in
Ericsson Group
Board member of Dirac
Research AB, Tobii AB and
Wirepas Oy
Advisory board of a handful
of companies in the US,
UK and Scandinavia
Head of Payments at Tink
A seasoned payment
expert with various senior
roles within H&M Group,
Klarna and iZettle
Board Member of Yabie
in Sweden
Recently retired as the
COO of TSYS Issuer
Solutions with extensive
experience in the fintech,
payments and
processing sectors
Former Chairman of
Paysafe (a UK based
global payments
company), Former
Chairman of MasterCard
UK, Various executive
roles within RBS and
NatWest
Private investor
Chairman of Nitro Games
Board member and
Investment manager at
Feat Invest AB since
2016
Extensive experience
with financial markets
COO at Bambora and
Head of Customer
Services Regional
Businesses at Worldline
20+ years experience
from the Fintech, Fast-
Moving Consumer Goods
and Retail Industries
Stina Granberg Johan BiehlDennis Jones Tanya Juul Kjær Diderik SchonheyderJörgen Lantto
Chairman of the Board