Partnership will initially see both companies enable contactless payment functionality for analogue watches, with limitless scope for contactless fashion accessories ahead.
HONG KONG and SINGAPORE, Nov. 7, 2019 /PRNewswire/ -- Tappy Technologies, the Hong Kong-based wearable and digital payments solution provider, today announces strategic partnership with Financial technology pioneer, Mastercard, in the Asia Pacific region.
The patented technology of Tappy embeds contactless payment chips into virtually any fashion accessory, transforming them into payment-enabled wearables. By partnering with Mastercard, Tappy can integrate its technology platform with Mastercard Digital Enablement Service (MDES) tokenization platform for tokenizing payment credentials across mechanical and digital watches for use across contactless payments accepting Mastercard merchants.
"Fashion-conscious consumers are now looking to their favorite brands to add payment capabilities to their watches, jewelry and other accessories. Our partnership with Mastercard means that fashion brands can now easily respond to consumer needs and take full advantage of this fast-growing trend," Wayne Leung, CEO of Tappy Technologies Ltd, said.
In the first half of 2020, Timex Group will debut its first payment-enabled timepieces across a variety of collections and straps sold separately, all of which can be purchased on Timex.com.
"For 165 years, we have created quality timepieces that our consumers love, delivering on fashion, variety and accessibility," said Shawn Lawson Cummings, SVP Advanced Technology, Timex Group. "Now, thanks to our partnership with Tappy, we can offer convenient payment-enabled timepieces that will transform our relationship with our consumers, offering them even greater functionality that keeps up with how they interact with the world around them."
Mastercard's focus on fintech partnerships through Mastercard Engage has brought the company in proximity to technology providers like Tappy who offers payment experiences in the wearables and fashion arena.
Mastercard Engage is a successful global program that identifies qualified technology partners and connects them with thousands of Mastercard customers to help scale their business. Mastercard Engage is part of Mastercard Accelerate platform, which is a suite of programs and solutions designed to meet the different needs of fintechs to scale and take their products to market faster amidst a rapidly changing completive landscape.
"The innovation Tappy offers, fueled by Mastercard's payments and secure tokenization technology, is a great example of how the power of partnerships is expanding the fintech landscape. Mastercard's foray into wearables is the testimony of our support to drive contactless payments. Through the Mastercard Accelerate platform, we have a suite of solutions to help fintechs rise to the next level and scale their business at increased speed with access to powerful resources, tools and insights," said Ben Gilbey, Senior Vice President, Digital Payments and Labs, Asia Pacific.
About Tappy Technologies
Tappy Technologies (Tappy Tech or "Tappy") is a world-leading wearable payment enabler 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 comply with industry security standards and are certified by industry bodies including PCI and EMVCo.
Mastercard , www.mastercard.com [http://www.mastercard.com/], is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardAP [https://secure-web.cisco.com/1-oLUa7clRF9ut0g4aFLZ-2yrmhZdLdtU1jaonfY_Dxyr0_ArmNXlei0cuyyWKg4yYzSqD6D19n7bFGtDip_85QkXPCv5XKhpvMlVWED0SjcdABMhxJAXP_VG-jx8YQI5s97iyr9GGYj9s82-Um-YW-n4b2-NpTZ9nc4KgBFgdudZ_lKXXnp9kpgUn7ilS1RGcwkeKWeBmrVeBKx3WWhN0ETERYH3Svzk_UNUJhCD9q9-9lrcpXYaUozoLomWbh2FnOOfaQrhQ12Zddy167GACp_MwSd5xSyHUEKg1uMnRGs/https%3A%2F%2Furldefense.proofpoint.com%2Fv2%2Furl%3Fu%3Dhttps-3A__twitter.com_MastercardAP%26d%3DDwMGaQ%26c%3Duc5ZRXl8dGLM1RMQwf7xTCjRqXF0jmCF6SP0bDlmMmY%26r%3DfqxGzwHIAvPRIVQJ88pxuP9kRmQghQDkwXriHUuAUQs%26m%3DCvaxWand6rn4mS8_yyO1OqpVDUVE7sA6LXazIkyDetg%26s%3Dg1HO3shXk1V-NV9j7WGGMDEStS8Z8dpthJoFiG0cWsI%26e%3D], join the discussion on the Beyond the Transaction Blog [https://newsroom.mastercard.com/asia-pacific/blog/] and subscribe [https://newsroom.mastercard.com/asia-pacific/subscribe/] for the latest news on the Engagement Bureau [https://newsroom.mastercard.com/asia-pacific/].
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.
CONTACT: Tappy Communications Contact, Suboor Ahmed, +852 6332 1453, firstname.lastname@example.org; Mastercard Communications Contact, TKTK, +65 TKTK, TKTK@mastercard.com; Agency Communications Contact, TKTK TKTK, +65 TKTK, TKTK@webershandwick.com; Timex Group Communications Contact, Jenna Amyot, +1 617-939-8471, Jenna.Amyot@porternovelli.com