Thales Brings Contactless Payment Functionalities to Axis Bank’s Wear ‘N’ Pay Wearables Program
Thales, worldwide leader in digital security, has been a pioneer in enabling convenience and security of contactless payment to the wearable market. Today its technologies enable Axis Bank’s wearables as a stylish and secure contactless way of payment. The new Thales chip form factor will leverage Tappy Technologies’ holistic payment solution to Axis Bank, to further enhance customers outreach by offering innovative purchase methods.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210312005128/en/
photo credit @ AXIS Bank
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.
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.
Sanjeev Moghe, EVP & Head-Cards & Payments, Axis Bank said: “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. 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.”
Emmanuel de Roquefeuil, Vice President and Country Director, Thales in India, said, “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. 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.”
Suboor Ahmed, Vice President of Strategic Partnerships & Operations at Tappy Technologies said, “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. 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.”
With swift integration into a range of products such as watches, accessories and more, contactless technology is a part of the next innovation wave. It is at the helm of the next phase of revolution in the field of digital technologies.
There has been significant growth in adoption of contactless payments, both globally and in India. Contactless payments have been surging across the world with MasterCard reporting over 40% growth in contactless transactions globally in the first quarter of 20201.
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 our societies. The Group provides its customers – businesses, organisations and governments – in the defense, aeronautics, space, transport, and digital identity and security domains with solutions, services and products that help them fulfil their critical role, consideration for the individual being the driving force behind all decisions.
Thales has 81,000 employees in 68 countries. In 2020 the Group generated sales of €17 billion.
About Thales in India
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.
About Axis Bank
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 2,521centers, 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. To read more about the Bank, please visit https://www.axisbank.com
About Tappy Technologies
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. Our digital offerings and hardware white label solutions are fully trusted and certified by industry standards including PCI and EMVCo. We have a two-pronged solution strategy divided into our Pre-Loaded Credential (PLC) Program and our Tokenization Enablement Services (TES) Program. Tappy Technologies’ wearables payment solutions are designed to work at any contactless point-of-sale terminal, globally. We add Payment / Access Control / Geolocation to traditional timepieces, jewelries, and accessories by pre-provisioning secure data keys into a battery less secure element chip. Visit www.tappytech.com for more information.
Thales, Media Relations
Digital Identity and Security
+33 (0)6 07 34 00 34
Thales, Communications in India
+91 88 266 77 881
+91 88 516 46 206
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
EIG Signs $12.4 Billion Infrastructure Deal with Aramco9.4.2021 23:30:00 EEST | Press release
EIG, a leading institutional investor to the global energy sector and one of the world’s leading infrastructure investors, today announced that it has entered into a lease and lease-back agreement with Saudi Arabian Oil Co. ("Aramco"), under which a consortium of investors led by EIG will acquire a 49% equity stake in Aramco Oil Pipelines Company (“Aramco Oil Pipelines”), a newly formed entity with rights to 25-years of tariff payments for oil transported through Aramco’s stabilized crude oil pipeline network. The transaction is valued at approximately $12.4 billion with Aramco holding the remaining 51% stake in the new entity, indicating a total equity value of Aramco Oil Pipelines of approximately $25.3 billion. The pipeline network, which includes all of Aramco’s existing and future stabilized crude pipelines in the Kingdom of Saudi Arabia, connects oilfields to downstream networks. The pipeline network transports 100% of Aramco’s crude oil produced in the Kingdom under its Concessi
Atos, Dassault Systèmes, Groupe Renault, STMicroelectronics and Thales Join Forces to Create the ‘Software République’: a New Open Ecosystem for Intelligent and Sustainable Mobility9.4.2021 15:45:00 EEST | Press release
Elie Girard, Bernard Charlès, Luca de Meo, Jean-Marc Chery and Patrice Caine, respectively the chief executives of Atos, Dassault Systèmes, Groupe Renault, STMicroelectronics and Thales today announced their intention to join forces to create the Software République, a new ecosystem for innovation in intelligent mobility. By pooling their complementary expertise, the partners plan to develop and market together systems and software to provide an enriched and sustainable mobility offer for cities, regions, businesses and citizens. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210409005248/en/ Photo: SOFTWARE RÉPUBLIQUE Artificial intelligence, cybersecurity, connectivity, embedded electronics, and virtual twin technology will contribute to the excellence of these new products and services. This open innovation ecosystem, founded by five leaders in the automotive and technology fields, will welcome new members and develop ope
BIAL Launches New Support Platform to Inspire People With Parkinson’s Disease to Stay Active9.4.2021 15:31:00 EEST | Press release
NOT FOR UK MEDIA DISTRIBUTION BIAL has developed a new resource centre on its Keep It ON website for World Parkinson’s Day 2021 to empower people living with Parkinson’s disease to stay healthy and active and to help them manage their condition. Working in partnership with the European Parkinson's Disease Association (EPDA) as well as experts in nutrition, voice and cognition, BIAL plans to create a wealth of resources covering four key areas: Nutrition: Nutritionist Diana Miranda explains in her videos the importance of keeping hydrated and gives tips on managing common symptoms in Parkinson’s disease such as constipation. The page also features videos from chef Fábio Bernardino discussing recommended recipes for people with the condition. Exercise: Videos of physiotherapist Josefa Domingos from the EPDA demonstrate challenging and engaging exercises for people with Parkinson’s disease to do at home. Voice: Voice exercises by Speech Therapist Rita Cardoso are included to help improve
Comment by the Chair of Toshiba’s Board on the Acquisition Proposal9.4.2021 09:49:00 EEST | Press release
Osamu Nagayama, Chairperson of the Board of Directors of Toshiba Corporation (TOKYO:6502) has commented on the acquisition proposal from CVC Capital Partners as below. As announced in the public statement dated April 7th, Toshiba has received a preliminary and non-legally binding initial proposal from CVC Capital Partners (CVC) regarding the acquisition of Toshiba and to get the same privatized. This initial proposal by CVC was completely unsolicited and not initiated by Toshiba by all means. The proposal does not go through detailed review of Toshiba business. Further, CVC’s initial proposal is conditional on a variety of matters such as clearances of the Anti-trust registrations of the relevant jurisdictions, the Foreign Exchange and Foreign Trade Act of Japan and necessary financing. Furthermore, the proposed transaction is not contemplated to be financed by CVC alone; rather, it is indicated in CVC’s proposal that it would seek financing assistance from certain co-investors and fin
Exscientia Announces First AI-Designed Immuno-Oncology Drug to Enter Clinical Trials9.4.2021 08:30:00 EEST | Press release
Exscientia, a leading artificial intelligence (AI)-driven pharmatech company, today announced the first AI-designed molecule for immuno-oncology to enter human clinical trials. The A2a receptor antagonist, which is in development for adult patients with advanced solid tumours, was co-invented and developed through a Joint Venture between Exscientia and Evotec, including application of Exscientia’s next generation 3-D evolutionary AI-design platform as part of Centaur Chemist®. The drug candidate has potential for best-in-class characteristics, with high selectivity for the target receptor, bringing together potential benefits of reduced systemic sides effects as well as minimal brain exposure to avoid undesired psychological side effects. Preclinical data related to this project will be presented at the American Association for Cancer Research (AACR) annual meeting to be held 9-14 April, 2021. With this announcement, the company’s AI technologies and drug-hunting expertise are now resp
Northern Data sells Texas data center operations to Riot Blockchain Inc. for approximately EUR 550 million - operational EBITDA guidance for fiscal year 2021 remains unchanged8.4.2021 16:16:00 EEST | Press release
Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87), a leading developer and operator of High-Performance-Computing ("HPC") infrastructure solutions, sells its U.S. subsidiary Whinstone Inc., which operates a high-performance data center facility based in Rockdale, Texas, to Riot Blockchain Inc. (NASDAQ: "RIOT"), one of the largest U.S. based publicly-traded bitcoin miners in North America. The consideration in the transaction consists of EUR 67 million in cash component (cash and debt-free) and 11.8 million shares of common stock of Riot Blockchain Inc., which, based on the Riot Blockchain Inc. last closing share price (record date April 7, 2021: USD 48.37), corresponds to a total value of EUR 481 million. Consequently, the total volume of the transaction amounts to approximately EUR 548 million. Upon closing of the transaction, Northern Data AG will own approximately 12% of the total outstanding common stock of Riot Blockchain Inc. Northern Data AG pursues a multi-site strategy with st
Skyhook to Provide Enhanced Location Services for Microsoft Products and Services8.4.2021 16:00:00 EEST | Press release
Skyhook announces that it has entered into a strategic collaboration agreement with Microsoft. Under the agreement, Skyhook’s Precision Location solutions will now be utilized by Microsoft to augment and improve the delivery of geolocation services to Microsoft products and services. Skyhook offers a global hybrid positioning service called the Precision Location solution that combines Wi-Fi, cell, GPS, IP address and other location information to provide accurate, available and efficient location positioning services around the world. The deal enables Microsoft to use Skyhook’s solution to provide customers with accurate and user-controlled location-based experiences in Microsoft products and services. Leveraging Skyhook’s Precision Location services will provide Microsoft with network-based Wi-Fi and Cellular positioning. “Skyhook’s Precision Location solution is a leading independent positioning service,” said Craig Waggy, CEO, Skyhook. “We are proud to support Microsoft through the
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom