Mastercard certifies Safran Identity & Security’s “Style2Pay” product for wearables and payments on-the-go
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)
Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Group has 70,000 employees and generated sales of 17.4 billion euros in 2015. Safran is listed on Euronext Paris and is part of the CAC40 index, as well as the Euro Stoxx 50 European index.
Safran Identity & Security is a global leader in identity and security solutions, deploying systems in more than 100 countries. Backed by more than 40 years of experience in biometrics, the company develops innovative technologies for the public and private sectors, including identity management, secure transactions and public security solutions.
For more information: www.safran-group.com and www.safran-identity-security.com / Follow @Safran and @SafranIDSec on Twitter