By 2020, payments technology will never be the same again when Tappy and Mastercard roll out contactless payment functionality through tokenized chips on fashion accessories, starting with analogue watches from Timex Group.
Imagine using your collection of mechanical watches, bracelets, eyeglass and the likes to purchase at any merchant that accepts Mastercard Digital Enablement Services (MDES) contactless payments.
Tappy’s patented contactless payment chips can be embedded into virtually any fashion acceasory, transforming them into payment enabled wearables.
This was revealed during the pocket press conference hosted by Mastercard at the Singapore FinTech Festival x SWITCH 2019 in Singapore EXPO Convention and Exhibiton Center that runs from November 11-15, 2019.
Senior Vice President, Digital Payments and Labs, Asia Pacific, Mastercard, Benjamin Gilbey presented this innovation together with Wayne Leung, CEO, Tappy Technologies, Ltd. Gilbey and Leung showed the beauty of contactless payment and the rapid growth of fintech space. Hungry for solutions, Mastercard has been actively fostering ties with technology providers such as Tappy through Mastercard Accelerate – a global platform that gives fintechs and emerging technologies brands access to everything they need to grow quickly. Offering a simple, single entry-point to a wide portfolio of specialized programs, Mastercard Accelerate offers start-ups and emerging brands support and assistance or every stage of their growth and transformation, including market entry nd global expansion.
The Accelerate program that connected Mastercard wirh Tappy is Mastercard Engage – an initiative that identifies qualified technology partners and connects them with thousands of Mastercard customers to help scale their business, quickly and efficiently.
“The innovation Tappy offers, fueled by Mastercard’s payments and secure tokenization technology, is a great example of how the power of partnerships and is expanding the fintech landscape. Mastercard’s exciting journey in the wearables space is a testament to our commitment to driving contactless payments. Through the Accelerate platform, Mastercard offers a range of solutions to help fintechs rise to the next level and scale their business more rapidly through access to powerful resources, tools, and insights,’ said Gilbey.