PARTNER NEWS: Mastercard and Singapore-based Banking-as-a-Service provider MatchMove have partnered with Tappy Technologies to make it possible to provide consumers with the ability to add a tokenized Mastercard to a wide range of batteryless wearables.
“The three-way collaboration will enable MatchMove Mastercard cardholders to easily and securely add their payment cards to a chip which can turn accessories into payment-ready wearables,” the partners say.
Cardholders add their tokenized MatchMove Mastercard to the payment chip using a Universal Passive Provisioning Unit (UPPU), a small, Bluetooth-connected device developed by Tappy.
“After downloading the Tappy app and following the in-app instructions, the MatchMove Mastercard will be tokenized via Mastercard’s Digital Enablement Service (MDES) into the secure payment chip of a wearable via the Bluetooth device,” the partners explain.
“This contactless-enabled wearable device works exactly like any contactless card or digital wallet where the user taps the wearable at any contactless-accepted terminal.”
“We are proud to introduce network tokenization to the world of wearables in partnership with MatchMove and Mastercard,” says Tappy CEO Wayne Leung.
“The Tappy-patented provisioning accessory digitalizes payment credentials into wearables within seconds which is an absolute game changer for the banking industry.
“Embedded inside the wearable is the Mastercard-certified payment chip, which operates contactlessly without batteries.
“Our goal is to rewrite the standards of consumer wearables by producing products that are secure, easy to use and at the same time maintain the natural aesthetics of the fashion wearable accessories which is critical to end consumers.”