Tapster partners Fidesmo on passive payment ring

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wedish contactless wearable brand Tapster has partnered with Fidesmo to launch a passive payment ring with Mastercard and Visa tokenisation. The dual payment scheme support is enabled by Fidesmo’s payment service, Fidesmo Pay. Fidesmo claims to be the only token requestor providing dual payment scheme support for passive wearables.

The Tapster ring, which does not require a battery or internet connection to make payments, is EMV certified for Mastercard and Visa. It has been developed in collaboration with Fidesmo’s hardware partner, ARE CON.

Tapster CEO and co-founder Tobias Ericsson commented: “We see a huge potential in our ring. The ring is secure, easy to use, and you can bring it everywhere you go. It is also waterproof, which is perfect for the summer. Thanks to Fidesmo Pay’s support for both Mastercard and Visa, we are able to offer dual payment scheme support on the rings, which is fantastic and a great step forward.”

Fidesmo CEO Mattias Eld added: “We are proud to enable our partners to launch products that are at the forefront in the wearable payments market. This ring is the first passive payment ring with Mastercard and Visa tokenisation. We are delighted to collaborate with our partners Tapster and ARE CON.”

In April this year, Fidesmo expanded its footprint to Russia in partnership with RFID technology provider ISBC, which develops contactless wearables, smart RFID paper, and virtual NFC-cards for iOS and Android devices.

In March this year, the business strengthened its European presence by launching wearable payment service Fidesmo Pay in Switzerland. In January, it expanded its partnership with private banking company SEB to launch Fidesmo Pay in Denmark and Finland.