Sunday , 15 December 2019

Soon, Fashion Wearables Will Let You Do Cashless Payments

Made possible by Mastercard’s partnership with Tappy Technologies

Have you ever imagine that fashion accessories like watches can be used to do contactless payments, saving you the hassle of bringing physical cash with you? Hong Kong-based token service provider Tappy Technologies wants and Mastercard wants to make that a reality.

Through their strategic partnership, Tappy will be using its patented payment solutions to enable any fashion accessories to do contactless payments using Mastercard’s Digital Enablement Service (MDES). We’re not talking about smartwatches here: instead, Tappy’s tech aims to enable payments with analog watches, bracelets, and sunglasses, among other things, using NFC.

Tappy’s digital tokens are placed in a watch’s strap, at the side of s sunglass’ frame, or in one of the bracelet’s beads. They are waterproof for up to 200 meters, so you don’t need to worry about water damage.

Loading your credit card into Tappy’s digital token only takes a few minutes to set up via an app proprietary to the fashion wear brand and a dongle to set up the chip to tokenize your credit card. Like regular, physical cards, these tokens can be disabled on the fly to prevent unauthorized transactions.

The partnership will kick off with analog timepieces by Timex, where they will be equipped with the necessary hardware to enable contactless payments. Timex, for their part, will debut its payment-enabled range of watches and straps by first half of 2020.

Our partnership with Mastercard means that fashion brands can now easily respond to consumer needs and take full advantage of this fast-growing trend,” Tappy Technologies CEO Wayne Leung said.

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