Tappy Technologies, a Hong Kong-based wearable and digital payments solution provider, announced on Monday it has teamed up with watch brand giant Timex to create tokenized wearables. Tappy reported that it will offer a unifying platform for digital and mobile payments to traditional watch brands enabling them to turn their products into mobile payment carrier.
Tappy also revealed that the new product will allow brands to combine the worlds of fashion and technology to provide consumers with quick, easy and convenient ways of making secure payments, enabling a future where everyday wearables could eventually replace the credit card. While sharing more details about the partnership, Wayne Leung, CEO Tappy Tech, stated:
“We are proud to launch our Wearable Token Services Platform in partnership with Timex Group on the two major card schemes Visa & Mastercard. I am confident that Tappy’s Tokenization 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.”
Brian Pemberton, Group VP Advance Products, Timex Group, then added:
“Timex Group has always been at the forefront of technological innovation in the area of wrist-worn devices; Tappy’s tokenization 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 tokenized.”