Tedipay (London, UK) showcased Wildcard, an open platform that allows banks and transport operators to offer services to their customers via a range of wearable devices.
Uniquely, the Wildcard platform enables four exciting mass-market applications - contactless payments, transit ticketing, access control and user authentication - with the ability to securely provision, personalise and manage those applications online using a smartphone. The platform was demonstrated in Barcelona an as overlay to a traditional mechanical watch with innovative user interface.
Wildcard supports all types of contactless payments as well as all major transit protocols worldwide. Payments are based on the same EMV tokenisation as used by Apple Pay. Wearable devices are protected with multi-layer biometric security. The low-cost platform is offered on a white label basis to the manufacturers of conventional watches, smartwatches, wristbands, smart rings and other wearables. An open API allows third parties to implement own access control and two-factor user authentication solutions on the basis of the Wildcard platform.
Wildcard platform was developed on the basis of PN66T, the latest in the family of integrated Secure Elements and NFC controllers from NXP Semiconductors ¬– the chips that power millions of smartphones worldwide. In addition to the NFC interface, the platform also features a fingerprint sensor for biometric user authentication and Bluetooth Low Energy for seamless integration with any smartphone.
“Never before could wearables be implemented in such a secure and accessible way, placing mass-market functionality within easy reach of millions of users. With our innovative features and laser-sharp focus on practical everyday use cases, we set a new benchmark for the global wearables market,” said Alexander Peschkoff, CEO, TEDIPAY.
Transit ticketing application – branded as MultiPass – is already being commercialized in the UK with a number of major transport operators. The company is also in active discussions with a number of key transport players in Europe and Asia.
The company will soon be announcing official partnerships with MasterCard, Visa, NXP as well as several major watch manufacturers to bring the Wildcard platform to the market.