Following this announcement, Tietoevry Banking and Tapeeze will focus on giving banks, fintechs, and branded organisations such as sports clubs, car manufacturers, or music festivals the possibility to design their own branded multi-function cards, including flexible, secure payment functionalities. This process is set to take place without the need for complex infrastructures or regulatory approvals.
In addition, fans will have the possibility to leverage these cards in order to show their affinity with a brand, team, and product, while banks will be enabled to benefit from a top-of-wallet payment offering and improved loyalty through the use of a card linked to the Visa or Mastercard global acceptance networks.
According to the official press release, non-banks will be enabled to issue their own branded and personalised cards using Tietoevry Banking’s low-cost, sustainable, secure, and fast-to-market production techniques. Under the terms of this agreement, Tapeeze will continue to use the same tokenisation technology found in products such as rings, smartwatches, Google Pay, or Apple Pay, in order to design the physical card. The technology also includes enhanced security through skim-proof tokenization and optional biometric factors to optimise the privacy and overall experience of clients and users.
Furthermore, cardholders’ banks will gain new revenue opportunities from their card portfolios and a very rapid time to market for these products, while giving customers the chance to express their loyalty to brands, sports clubs, and festivals. For example, for sport clubs with huge fanbases, the cards will give fans the possibility to show their colors everytime they play, while also generating revenue for their club. Tietoevry Banking’s extensive banking network, deep industry expertise, and proven infrastructure are set to scale Tapeeze’s product across Europe, as well as optimise the manner in which businesses unlock new revenue streams and stronger customer engagement.
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