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.
Posted on 11.29.16
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)
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About IDEMIA - OT-Morpho is now IDEMIA, the global leader in Augmented Identity for an increasingly digital world, with the ambition to empower citizens and consumers alike to interact, pay, connect, travel and vote in ways that are now possible in a connected environment.
Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, we reinvent the way we think, produce, use and protect this asset, whether for individuals or for objects. We ensure privacy and trust as well as guarantee secure, authenticated and verifiable transactions for international clients from Financial, Telecom, Identity, Public Security and IoT sectors.
OT (Oberthur Technologies) and Safran Identity & Security (Morpho) have joined forces to form IDEMIA. With close to $3 billion in revenues and 14,000 employees around the world, IDEMIA serves clients in 180 countries.For more information, head to www.idemia.com. And follow us @IdemiaGroup on Twitter.
