Today at the UnBound conference in London Tedipay announced a partnership with Russian contactless payment solution provider CardsMobile to create “a ground-breaking secure platform for mobile payments and smart transit ticketing.” The partners intend to invest no less than $9 million in the project, which will be deployed in the UK.
The UK startup has developed an innovative wearables solution with NFC interface based on EMV-compliant Secure Element — a solution powered by NXP PN66T, which is also used by Apple Pay. By integrating this solution with CardsMobile’s MasterCard-certified mobile platform, Tedipay hopes to develop such use cases as bank card aggregation (CardsMobile’s wallet-like applications), mass transit (“pocket ticket vending machine”), IT security and access control, and others.
“When it comes to mobile payments, our partnership with CardsMobile will enable banks worldwide to offer their customers greater convenience and flexibility on an unprecedented scale. Tedipay delivers the same user experience as Apple Pay, but via open wearables platform,” said Tedipay’s CEO Alexander Peschkoff.
Kirill Gorynya, CEO of CardsMobile underlined, believes that “secure weareables platform coupled with our API-based mobile platform opens up numerous possibilities. This will enable Tedipay to further enhance their value proposition and to create unique, compelling ecosystem in the fields of mobile payments, transit ticketing, and online security.”
Tedipay defines its mission as “changing the way consumers pay for things on the move.” The company’s product portfolio includes MultiPass, a smart transit ticketing solution for public transport was launched in the UK in March 2015, and Magic, an innovative retail solution that integrates payments, loyalty, coupons and receipts into a seamless user experience. These solutions have been awarded grants by Innovate UK, the UK Government’s innovation agency, says Tedipay.
Founded in 2012 in St. Petersburg, CardsMobile develops NFC-based contactless mobile payment solutions and mobile services. Its platform supports Host Card Emulation (HCE) technology for bank cards, transport tickets and loyalty programs. Recently CardsMobile launched a mobile wallet application for Android to issue MasterCard contactless bank cards, transport cards and mobile coupons. The app is pre-installed on the compatible models of HTC, Sony and Philips, and is also available on Google Play. CardsMobile is a resident company of Skolkovo, the international tech hub under completion on the outskirts of Moscow.
