NAIROBI, Kenya, Nov 5 – Mastercard and Diamond Trust Bank (DTB) have partnered with Tappy Technologies to launch Kenya’s first tokenization-based payment wearables, allowing users to make secure, contactless payments with ease.
The new wearables will enable users to complete “tap and go” transactions by tapping the device at any contactless point-of-sale terminal.
Mark Elliott, Division President of Mastercard Africa, emphasized the technology’s focus on security, as it replaces sensitive data with encrypted tokens, ensuring protection during transactions.
“We’re excited to collaborate with DTB and Tappy Technologies on these innovations,” said Elliott.
“By blending our digital payment expertise with DTB’s market presence, we’re enhancing the banking experience with secure, convenient payment options.”
Nasim Devji, Group CEO of DTB, highlighted that the partnership will transform the digital and banking experience for customers across Kenya, Uganda, and Tanzania.
“This partnership accelerates our digital journey and helps us deliver innovative financial solutions to retail, SMEs, corporate, and fintech clients,” Devji stated.
The tokenized wearables provide consumers with fast checkout experiences and higher approval rates for merchants, driving increased transaction volumes for financial institutions.
Mastercard data shows that one in nine point-of-sale transactions in the Middle East and Africa is contactless, reflecting growing demand for secure, convenient payment solutions.
