PARTNER NEWS: Tappy Technologies has launched a platform which enables traditional brands to turn their watches easily into secure, contactless payment devices. Tappy’s Wearable Token Services Platform lets consumers link the details of their debit or credit card to their watch and use it to make payments wherever their card would be accepted worldwide.
Timex is the first watch brand to integrate the platform, which combines a batteryless payments chip, a mobile app and dongle used for provisioning card details to the chip. Timex customers will be able to add cards from Visa and Mastercard to their watches.
The batteryless payments chip “can be placed in virtually any watch strap and be tokenized using Tappy’s Universal Passive Provisioning Unit (UPPU), allowing traditional watch brands to enter the thriving mobile payment market currently dominated by new generation digital devices,” explains Tappy.
“Tappy’s tokenization platform, as well as our patented authentication and provisioning solutions, are a game-changer for the traditional watch industry,” says Tappy CEO Wayne Leung. “Highly sophisticated algorithms ensure that our solution operates flawlessly without batteries and that any products that incorporate our technology can be aesthetically pleasing, which is important to our watch partners.”
“Tappy’s tokenization solution enables us to sell our payment-enabled devices globally,” says Timex VP Brian Pemberton. “The highlight of the new solution is Tappy’s UPPU, which enables non-chargeable devices like traditional timepieces to be tokenized.”
Full details are in the press release below.
Tappy Tech and Timex Group announce their partnership for tokenization of Timex Group wearables
World-leading token service provider unveils ‘game-changing’ payment and provisioning solution for timepiece and accessories market at Mobile World Congress 2019
BARCELONA, Spain, Feb. 25, 2019 — Tappy Technologies (Tappy Tech or “Tappy”), the Hong Kong-based wearable and digital payments solution provider, has launched a partnership with Timex Group, in a move set to shake-up the traditional watch industry. Tappy, the first licensed Wearable Token Service Provider of its kind, will offer a unifying platform for digital and mobile payments to traditional watch brands enabling them to turn their products into cutting-edge mobile payment carriers. The partnership was unveiled at MWC Barcelona during the Tappy Product Launch Event.
Tappy Tech’s token payment solutions can effectively turn any watch into a secured credit or debit card, giving users more choices to pay. Its battery-less chip can be placed in virtually any watch strap and be tokenized using Tappy’s Universal Passive Provisioning Unit (UPPU), allowing traditional watch brands to enter the thriving mobile payment market currently dominated by new generation digital devices.
Wayne Leung, CEO Tappy Tech, said, “We are proud to launch our Wearable Token Services Platform in partnership with Timex Group on the two major card schemes Visa & Mastercard. I am confident that Tappy’s Tokenization platform, as well as our patented authentication and provisioning solutions, are a game-changer for the traditional watch industry. Highly sophisticated algorithms ensure that our solution operates flawlessly without batteries and that any products that incorporate our technology can be aesthetically pleasing, which is important to our watch partners.”
This new product will allow brands to combine the worlds of fashion and technology to provide consumers with quick, easy and convenient ways of making secure payments, enabling a future where everyday wearables could eventually replace the credit card.
Brian Pemberton, Group VP Advance Products, Timex Group, said, “Timex Group has always been at the forefront of technological innovation in the area of wrist-worn devices; Tappy’s tokenization solution enables us to sell our payment-enabled devices globally. The highlight of the new solution is Tappy’s UPPU which enables non-chargeable devices like traditional timepieces to be tokenized.”
About Timex Group
Timex Group designs, manufactures and markets innovative timepieces around the world. Timex Group is a privately-held company headquartered in Middlebury, Connecticut with multiple operating units and over 3,000 employees worldwide. As one of the largest watch makers in the world, Timex Group companies produce watches under a number of well-known brands, including Timex, Nautica, Guess, GC, Salvatore Ferragamo, Versace, Versus and Ted Baker.
About Tappy Technologies
Tappy Technologies (Tappy Tech or “Tappy”) is a world-leading wearable payment integrator connected to banking partners and card networks with operations that span across North America, APAC and EMEA. Tappy’s white labelled digital offerings and hardware solutions are fully trusted and certified by industry standards including PCI and EMVCo.
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