Zwipe and Tappy Technologies to develop wearable biometric payment devices
Zwipe and wearables technology company Tappy Technologies today announced a partnership to jointly develop and launch biometrics-enabled wearable payment, access and digital authentication devices.
Tappy Technologies, a global provider of tokenization services, will be licensing Zwipe’s core intellectual property to enable biometric authentication in a range of form factors.
“We count some of the biggest payment networks, banks and watch brands in the world as our trusted customers and we strongly believe that the future of wearable payments will be biometric,” explained Wayne Leung, CEO of Tappy Technologies. “In 2017 brands partnering with us sold over 85 million units, and we expect to see our wearable payment and tokenization platform deployed in millions of units over the next years and we are proud to partner with Zwipe to enable biometric authentication as part of this portfolio next year.
“At Tappy we have an insatiable appetite for innovation and our latest offering, a unique biometric wearable solution is going to be a game changer in the wearable payment space as it enables second factor authentication in passive devices, offering the most secure and seamless wearable contactless payment experience to our customers.”
The companies expect to demonstrate the first prototype before the end of this year.
“Zwipe is paving the way to enable financial services in wearable devices, in addition to payment cards,” added André Løvestam, CEO of Zwipe. “Tappy Technologies is a proven leader in this segment and we are very excited to join forces in bringing this innovative solution into the hands of the consumer.”
New research from Goode Intelligence predicts that there will be 2.6 billion people using biometrics for payments by 2023.