With the world’s top three payment card producers based in continental Europe and its largest smartphone OEMs located in Asia, Swedish biometrics company Fingerprint Cards has decided to expand its operation, moving closer to the dual hearts of the biometric tech sphere.

The Big Move

The Swedish company has its eyes set on two locations: Shanghai, China and Zug, Switzerland.

“Shanghai, being the most important economic, financial, trade, and shipping hub in China, is close to our major customers and partners in the mobile industry,” said the company in a press release. They intend for their regional office to be the company’s center for its mobile business line.

Not far from its founding grounds, the Zug office will house Fingerprint Cards’ Payments & Access business line center. “Zug has become a well-respected and established hub in the payments marketplace, with its central European connections,” said the press release.

The company also plans on building a sales and distribution hub in Singapore to both streamline inventory management and bank on growing its economies of scale to multiple markets.

A Word from the President

Fingerprint Cards higher-ups are seemingly ready and eager for the expansion.

“As we enter the next phase in Fingerprints’ development, I believe that close collaboration and proximity to key customers, suppliers and partners, as well as access to critical talent, will be even more crucial to our success,” says Christian Fredrikson, President & CEO.

“Our new organization will benefit our operations through enhanced organizational flexibility, speed, cost- and cash effectiveness, as well as through a sharper focus on our two individual business lines.”

Fingerprint Cards’s parent company, which is featured on Nasdaq Stockholm, will remain in Sweden. Its CEO and CFO will relocate to Zug, although they will both maintain their current roles in the parent company.

ABOUT THE WRITER

Olivia Baker is a Tech Innovation Fellow at Identity Review from Columbia University, where she writes on tech policy and national digital identity technologies.

Contact Olivia Baker at olivia@identityreview.com.

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