Hong Kong-based wearable payments technologists 'Tappy Technologies' recently introduced a new design that is developed in the form of a watch strap. It blends in contactless payment technologies with a biometric system that implements a fingerprint sensor. This sensor sets a transaction limit to the payment method and more importantly, it increases the security measurements. CEO Wayne Leung announces that the new technology is set to ship out with a "major watch manufacturer" in the following year.
To activate the payment solution, wearers will touch the fingerprint sensor on their watch and hold it within a close range of POS devices. Tappy Technologies works closely with major watch labels including Timex, Mondaine, and Guess as well as a list of banks to initiate the service.
Biometric Wearable Payments
Tappy Technologies Unveils a Fingerprint-Activated Payment Timepiece
Trend Themes
1. Biometric Wearable Payments - The integration of biometric sensors into wearable devices for contactless payments presents opportunities for enhanced security and convenience in transactions.
2. Fingerprint-activated Payment Timepiece - The development of a watch strap that incorporates a fingerprint sensor for payment authentication opens up possibilities for seamless and secure mobile payments on-the-go.
3. Wearable Payments Technologists - The collaboration between wearable technology companies and watch manufacturers to introduce contactless payment solutions with biometric authentication offers disruptive innovation opportunities in the wearable tech industry.
Industry Implications
1. Wearable Technology - The convergence of biometric sensors and contactless payment technologies in wearable devices transforms the way consumers make transactions, providing an avenue for growth in the wearable tech industry.
2. Financial Technology (fintech) - The integration of biometric authentication and contactless payment technologies in the banking sector through partnerships with wearable technology companies creates opportunities for safer and more convenient payment methods.
3. Watch Manufacturing - The inclusion of biometric payment features in watch straps through collaborations with wearable technology companies enables traditional watch manufacturers to tap into the growing market of contactless payments.