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  Business   Companies  25 Feb 2019  Tappy Tech & Timex Group Announce Partnership For Tokenization of Timex Wearables

Tappy Tech & Timex Group Announce Partnership For Tokenization of Timex Wearables

PTI
Published : Feb 25, 2019, 3:17 pm IST
Updated : Feb 25, 2019, 3:17 pm IST

Timex Group is a privately-held company headquartered in Middlebury, with multiple operating units and over 3,000 employees worldwide.

Timex watch. (Photo: Twitter)
 Timex watch. (Photo: Twitter)

Barcelona: Tappy Technologies (Tappy Tech or "Tappy"), the Hong Kong-based wearable and digital payments solution provider, has launched a partnership with Timex Group, in a move set to shake-up the traditional watch industry. Tappy, the first licensed Wearable Token Service Provider of its kind, will offer a unifying platform for digital and mobile payments to traditional watch brands enabling them to turn their products into cutting-edge mobile payment carriers. The partnership was unveiled at MWC Barcelona during the Tappy Product Launch Event.

Tappy Tech's token payment solutions can effectively turn any watch into a secured credit or debit card, giving users more choices to pay. Its battery-less chip can be placed in virtually any watch strap and be tokenized using Tappy's Universal Passive Provisioning Unit (UPPU), allowing traditional watch brands to enter the thriving mobile payment market currently dominated by new generation digital devices.

 

Wayne Leung, CEO Tappy Tech, said, "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."

This 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.

 

Brian Pemberton, Group VP Advance Products, Timex Group, said, "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."

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.

 

Join Timex on social media: @timex

About Tappy Technologies

Tappy Technologies (Tappy Tech or "Tappy") is a world-leading wearable payment integrator 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 are fully trusted and certified by industry standards including PCI and EMVCo.

Tags: timex group
Location: Spain, Katalonia, Barcelona