Mastercard certifies Safran Identity & Security’s “Style2Pay” product for wearables and payments on-the-go
Safran Identity & Security, a world leader in security and identity solutions, announces that its secure element for contactless payment “Style2Pay” has been certified by Mastercard.
Thanks to contactless technology, consumers can make payments at any time by simply tapping a contactless device. To combine the convenience of something people always have with them with the speed of contactless payments, the Style2Pay tag can be inserted into any form factor, such as a wristband, a key holder, a watch or a necklace.
This easy and fun way to pay is on the rise. The number of wearables is expected to reach 213.6 million units worldwide in 2020* as user demand increases for different applications such as sporting events, music festivals, public transport tickets or amusement parks.
Mastercard's certification underlines the security of Style2Pay and its compatibility for transactions. By enhancing their contactless offering with Style2Pay, banks will be able to motivate existing and new customers to experience the convenience of contactless technology. This will strengthen customer loyalty and open up new revenue streams.
*Source : IDC (International Data Corporation)