Thales Gemalto FlexiTag can integrate into a vast range of wearables
Thales (Euronext Paris: HO) said its Thales chip form factor will leverage Toronto-headquartered Tappy Technologies’ holistic payment solution to Axis Bank to further enhance customers outreach by offering innovative purchase methods.
These range of wearable contactless payment devices are easy to carry around, and blend seamlessly into the users’ daily lives with minimum intrusion. Thales has managed to condense the technology of a contactless payment card into a tiny piece of secure payment technology – Thales Gemalto FlexiTag – that can be invisibly integrated into a vast range of wearable shapes and sizes.
Axis Bank customers can, therefore, enjoy payment bands, key fobs, or loops to process fast contactless transactions – without having to take a wallet out, said Thales in a release from Paris on 12 Mar 2021.
The wearable is directly linked to the customers’ bank account and functions like a debit card. This allows purchases to be done at any merchant who accepts contactless transactions. Also, to ease accessibility, the Axis wearables can be purchased via phone banking or at Axis Bank branches.
“With the increasing number of digital payments users, we see a huge opportunity in contactless payments, which will continue to grow, given the post pandemic situation and the need for social distancing. Contactless payments are the future of payments industry in India,” said Sanjeev Moghe, EVP & Head-Cards & Payments, Axis Bank.
“To tap into this market, our Wear ‘N’ Pay program brings in convenience in contactless payments at a budget friendly price point, offering a safe and secure mode of payments on the go. Not only are these devices contemporary looking, but are also designed in a way that it becomes a part of our daily lives, thus increasing adoption of cashless transactions for everyday requirements.
“We are confident that the ‘Wear ‘N’ Pay’ program would be an attractive value proposition for our customers,” added Moghe.
“Thales has always been a key driver to launch innovative and secure digital solutions. We are glad to support Axis Bank with this innovative contactless payment experience in India. The current time is apt to discover new secure payment methods and here contactless wearables arise as an optimal alternative,” said Emmanuel de Roquefeuil, Vice President and Country Director, Thales in India.
“We look forward to unleashing the full digital potential of our customers and accompany them as well as possible through this fast evolving payment ecosystem,” he added.
The Indian mass market potential for contactless enabled wearables is significant and we see this expanding into use on India’s public transport systems in the future, according to Suboor Ahmed, Vice President of Strategic Partnerships & Operations at Tappy Technologies.
“With Axis Bank’s forward-thinking initiatives and Thales’ innovative development in the wearable space, Tappy is extremely proud to be a part of this collaboration to bring wearables with contactless payment functionality to more people across the globe,” said Ahmed.
Tappy Technologies, headquartered in Toronto, Canada, is a world leading wearable payment integrator connected to banking partners and card networks with operations that span across North America, APAC and EMEA.
Thales (Euronext Paris: HO) is a global leader in advanced technologies, investing in digital and “deep tech” innovations – connectivity, big data, artificial intelligence, cybersecurity and quantum computing – to build a confident future crucial for the development of the societies.
Present in India since 1953, Thales is headquartered in New Delhi and has other operational offices and sites spread across Noida, Gurgaon, Hyderabad, Bengaluru and Mumbai, among others. Over 1,800 employees are working with Thales and its joint ventures in India. Since the beginning, Thales has been playing an essential role in India’s growth story by sharing its technologies and expertise in Defence, Transport, Aerospace and Digital Identity and Security markets. Thales has two engineering competence centres in India – one in Delhi NCR focused on digital identity and security business, while the one in Bengaluru focuses on hardware, software and systems engineering capabilities for both the civil and defence sectors, serving global needs.
Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 4,568 domestic branches (including extension counters) and 11,629 ATMs across the country as on 31st December 2020, the network of Axis Bank spreads across 2,521 centers, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge and Axis Bank Foundation. #technologies #wearables #investment #banks /fiinews.com
