Tennis fans were able to use sustainable contactless payment fobs made with recycled apple at the recent 2022 French Open in Paris following a partnership between Mastercard, wearable tech firm DIGISEQ and payment app MuchBetter.
DIGISEQ teamed up with Mastercard, the official payments partner of the tournament held at Roland-Garros since 2013, and MuchBetter to produce a world-first sustainable contactless key fob made with organic apple skins.
Each chip-enabled key fob was pre-loaded by DIGISEQ using its mobile personalisation service RCOS with €20, which could be spent on-site, while the fob holder was made with apple waste from apple juice production with a natural apple-scent.
Once fob users had spent their pre-loaded amount onsite at the tournament, the fob could then be reused after the event by downloading the MuchBetter app and can be used in any contactless location where Mastercard is accepted.
Terrie Smith, DIGISEQ co-founder and CEO, said it was thrilled to showcase the exciting possibilities of its wearable tech solution with fans able to “enjoy the benefits of contactless payment through a convenient key fob designed with sustainability in mind”.
Smith commented: “This is a fantastic example of how DIGISEQ is creating new ways for millions of people to have enjoyable and immersive experiences at their favourite sports events, all through wearable tech which stays with them wherever they go.
“Our wearable tech is already being used by major banks like ABN AMRO, luxury brands like Philippe Starck and events including the 2020 Golden Globes Awards. With Roland-Garros successfully using our solutions to create unforgettable fan experiences, we’re now seeing a big uptick in interest from sports clubs and venue operators that can see the benefits of enabling secure contactless payments and digital ID verification through wearable items.”
Wearables are expected to have a market value of $171.38billion by 2032, a projected growth of more than $150billion over the next 10 years.
DIGISEQ’s mobile personalisation and tokenisation ensures all provisioned payment data is fully protected, with contactless transactions secured in exactly the same way as card or phone NFC payments. Consumers can register and activate their own item using their payment card, through DIGISEQ’s Manage MiiTM mobile app, which can be white-labelled with the branding of its clients, essentially making it an invisible payments partner.
Image and article originally from thefintechtimes.com. Read the original article here.