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February 25, 2019

Timex taps Tappy Technologies to support payment on watches

Timex Group has teamed up with Tappy Technologies, a wearable payment technology provider based in Hong Kong, to enable payment on its watches.

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The initiative will be supported by Visa as well as Mastercard.

Timex group VP of Advance Products Brian Pemberton said: “Timex Group has always been at the forefront of technological innovation in the area of wrist-worn devices; Tappy’s tokenisation 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 tokenised.”

Tappy also offers a battery-less chip, which can be incorporated in a watch strap and tokenised through Tappy’s Universal Passive Provisioning Unit (UPPU).

Tappy CEO Wayne Leung said: “I am confident that Tappy’s Tokenisation 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.”

Recent initiatives by Tappy:

Last October, Tappy launched its biometric enabled payment watch strap.

In the same month, the technology provider partnered with Zwipe to develop biometric wearable payment authentication devices.

 

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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