Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the financial services industry. This time, you get to discover five hand-picked wearable payment technology startups.
Out of 100, the Global Startup Heat Map highlights 5 Top Wearable Payment Technology Startups
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering 2 093 000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 100 exemplary startups & scaleups we analyzed for this research. Further, it highlights five wearable payment technology startups that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these five startups & scaleups in this report. For insights on the other 95 wearable payment solutions, get in touch with us.
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Tappy enables Wearable Europay-Mastercard-Visa (EMV) Tokenization
Founding Year: 2016
Location: Toronto, Canada
Innovate with Tappy for Wearable Device Payment Integration
Canadian startup Tappy is a wearable payment integrator that provides EMV tokenization to convert any wearable accessory into a payment device. The startup installs biosensors equipped with secure near-field communication (NFC) technology utilizing its patented provisioning technology. Through its smartphone app, users connect their payment card with the startup’s sensors and activate the payment facility in their connected wearable device. This enables banks, watch, jewelry, and accessory brand owners to integrate contactless payments without in-house product development.
CNICK builds Contactless Payment Ring
Founding Year: 2016
Location: Tbilisi, Georgia
Partner with CNICK for Smart Rings
Georgian startup CNICK manufactures smart rings to enable wallet-free payments. CNICK Rings uses NFC authorization, does not require charging, and is waterproof, making it as usable as a normal ring. The startup offers wooden and ceramic rings that use the MasterCard payment network and Fidesmo tokenization to enable contactless payment systems. CNICK enables single-click payment deactivation in case of ring theft or loss and provides a secure and wallet-free payments experience.
Flywallet provides Biometric Wearable Platform-as-a-Service
Founding Year: 2018
Location: Rome, Italy
Use this solution for Fingerprint-Authenticated Payment Device
Flywallet is an Italian startup that upgrades wearables with sustainable and biometrics-enhanced modules for making card-based transactions. Keyble is its NFC module that functions as a smart wristband or as an attachable to other accessories such as watches, straps, and bracelets. The module contains a fingerprint sensor that authorizes the users’ transactions with registered fingerprints and connected payment methods. It enables users to make payments without the need for physical cards or the need to enter PIN codes for authentication. Businesses use this solution to enhance on-premise access control, payments, and maintain digital identity, among other services.
Wearonize customizes Passive Wearables
Founding Year: 2019
Location: Lucerne, Switzerland
Work with Wearonize for Payment-enabled Wearable Development
Swiss startup Wearonize develops payment-enabled passive wearables and its related software ecosystem for banks. The startup provides ready-to-integrate as well as customizable antennae and contactless payment modules that are attached to accessories like watches. Its platform connects banks developing their own wearable payment solutions with wearable device producers and also facilitates fulfillment services. The startup’s end-to-end service enables banks to provide wearables devices to their customers at low capital cost and less time.
WristCoin facilitates Closed-loop Cashless Payments
Founding Year: 2018
Location: Toronto, Canada
Reach out for Wearables Devices for Large Events
WristCoin is a Canadian startup that develops whitelabel radio-frequency identification (RFID)-enabled wristbands to enable cashless payment systems at large public events and venues. The startup’s wristbands come ready-to-use with customizable features such as cashless ticketing, payments, and access control. WristCoin also provides mobile terminals for accepting payments and top-ups that do not require an internet connection. Businesses and event organizers pre-book wristbands with required features from the startup to offer event-goers a cashless experience.
Discover more FinTech Startups
FinTech startups such as the examples highlighted in this report focus on contactless transactions, user and device authentication systems as well as offline digital payments. While all of these technologies play a major role in advancing the financial services industry, they only represent the tip of the iceberg. To explore financial technologies in more detail, simply let us look into your areas of interest. For a more general overview, download our free FinTech Innovation Report to save your time and improve strategic decision-making.
