The payment revolution is here: forget about banknotes, cheques and credit cards! We want now to be able to pay anywhere anytime. Payment is no longer to be an important event but is becoming a part of the flow of all our actions in our daily lives.
Consequently, payment may no longer be limited to traditional payment means. Payment is now a needed function in all wearables and in many connected devices. Typically, we want to be able to use smartwatches, fitness wristbands, rings, and even smart clothing to complete payments among other functions. We want to be able to pay for all kinds of services, in traditional commerce, on all types of automats, and also for public transport. We want our consumer experience to be totally seamless, even have something magical, while bearing some resemblance with contactless card payment to build upon the confidence accrued thanks to decades of EMVCo payments.
As the wearables industry is developing endless solutions for all aspects of our lives, they need subsets that bring them ease of integration, low consumption and small footprint. The IoT industry is fast: Tiempo TESIC EMVCo can easily be integrated in any product design. Payment requires security: Tiempo TESIC EMVCo is ready for EMVCo certification and meets the highest security requirements of the payment industry. Transport payment is a significant part of the needs: TESIC EMVCo allows RF/NFC interface integrators to propose complete payments in less than 300 ms, complying with mass transit fare collection requirements. Consumers want peace of mind when it comes to usage: TESIC EMVCo has an extremely low power consumption that leads to extended battery life.