Flywallet signs investment agreement with TAS

Wednesday 23 June 2021 14:28 CET | News

Italy-based Flywallet, a startup offering digital payments through wearable devices with biometric authentication, has signed a reserved investment agreement with Global Payment (part of TAS).

Global Payment is a subsidiary of TAS Group’s mother company TAS and has entered the capital of Flywallet with a minority stake. TAS Group is a multinational company, whose payment software solutions are adopted by commercial and central banks throughout Europe and beyond.

The partnership will help Flywalled to accelerate the go-to-market for its mobile wallet, a tokenised payment card on wearables with biometric authentication. The partnership will also result in a commercial agreement under which GP will distribute Flywallet’s wearables and service platform to TAS Group's business customers.

Flywallet’s flagship product is named Keyble, a type of wearable that adapts to the user’s lifestyle, created with eco-friendly materials and inspired by made-in-Italy styles. It consists of a smart device that can be inserted into fashion accessories such as bracelets or watch straps and is equipped with biometric sensors for user authentication and health monitoring.

Through fingerprints or heartbeat measured via ECG, the user can enable in-store contactless payments, passwordless logins to online services, ticketing, loyalty cards, access to gyms, offices and homes, car door locks, digital identity, and more. In early 2022, the wearable will be certified as a medical device capable to perform analysis of cardiac arrhythmias, blood oxygen saturation and body temperature, as the press release says.

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Keywords: partnership, mobile banking, tokenization, biometric authentication, digital identity
Categories: Banking & Fintech | Online Payments
Countries: Italy
This article is part of category

Banking & Fintech