OSLO, NORWAY- 18 November 2019 - The Board of Directors of Zwipe AS has today
resolved to approve management's proposal for a streamlining program, enabled by
the strategic collaboration agreement with Idemia. The program will focus the
company's activities, reduce staff and operational expenses, and enable
underlying annual savings in excess of NOK 40 million.

The program is expected to be fully implemented in November 2019 and related one
-off costs will be included in the Q4 results. The effects are expected to be
realized from first quarter of 2020.

CEO André Løvestam comments: "The product roadmap streamlining that we are now
launching has been made possible thanks to the strategic collaboration with
Idemia on a disruptive technology platform. We believe this innovation is a game
changer and a catalyst for growth in the industry.

The new platform will integrate and simplify component design, drastically
reducing costs of the product itself and the manufacturing process. As a result,
a complete biometric payment card cost of below USD 10 is becoming realistic,
providing an accelerated path to mass volumes while giving Zwipe a long-term
cost leadership position.

Zwipe's streamlined roadmap enables simplifying and focusing the company, while
maintaining competent capacity to support our customers. In combination with the
announced 90% guaranteed rights issue, we see a clear path toward
commercializing our technology, with the required capital resources to get to
that point."

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For more information please contact:

André Løvestam, CEO, +47 930 44 040, info@zwipe.com