Tietoevry Banking, a prominent provider of financial SaaS solutions in the Nordics and beyond, has partnered with the Swedish FinTech company Tapeeze to introduce innovative tokenized payment cards. These cards are designed for banks, FinTech companies, and branded organizations, including sports clubs, automakers, and music festivals. The main goal is to issue custom-branded, multifunctional payment cards without the need for complex infrastructure or regulatory approvals. These cards come integrated with secure payment capabilities through Visa™ and Mastercard™ networks and are expected to significantly enhance customer and fan engagement.
Tietoevry Banking, with its decades of expertise in payments, fraud prevention, lending, and WealthTech, supports clients in over 60 countries. The organization is known for modular and scalable solutions that facilitate rapid product deployment. Tapeeze, founded recently, has made its mark with tokenized payment features typically found in digital wallets like Google Pay and Apple Pay, which it now extends to physical cards. This partnership signifies a significant leap in the realm of secure payment solutions, combining both companies’ unique strengths for a comprehensive offering.
Revolutionizing Custom-Branded Cards
The collaboration aims to empower non-banking entities to launch fully personalized, secure cards using Tietoevry Banking’s advanced production methods, which are both cost-effective and sustainable. Tapeeze enhances the cards’ security by incorporating its skim-proof tokenization technology and optional biometric security. This partnership’s goal is to make these advanced payment technologies globally available to organizations outside traditional banking sectors. Swedish sports clubs such as AIK, Björklöven, Timrå IK, and Djurgården have already adopted this technology, setting a precedent for others to follow.
One of the most significant aspects of this partnership is the ability to offer multifunctional cards that are not only secure but also customizable to reflect the branding and marketing needs of various organizations. These cards can serve multiple purposes, from being a regular payment card to offering loyalty points, discounts, or even exclusive access to events and services. This versatility is expected to drive significant interest from a wide range of industries, all looking for ways to engage their customer base more effectively while ensuring security and ease of use.
Industry Implications and Future Prospects
Ruth Hessner, head of card personalization at Tietoevry Banking, has expressed optimism about the global potential of this partnership. She believes that the introduction of these custom-branded tokenized payment cards can generate substantial revenue for sports clubs and open new avenues for cardholder banks. The ability to rapidly deploy products that enhance brand loyalty and customer satisfaction is a significant advantage in the competitive financial markets. The use of tokenization and biometric security also addresses growing consumer concerns about data privacy and fraud, making these cards an attractive proposition for end-users.
Mikael Kesha, co-founder and CCO of Tapeeze, has underscored the growing demand for such customizable, tokenized payment cards across various industries. He highlights the fact that their partnership with Tietoevry Banking is crucial for scaling their product across Europe and beyond. As more organizations recognize the value of these multifunctional cards, both companies expect to see widespread adoption. The collaboration not only aims to enhance customer engagement but also unlock new revenue streams, positioning both partners at the forefront of cutting-edge payment solutions.
Broadening Horizons with Innovative Solutions
The combination of Tietoevry Banking’s extensive experience and comprehensive financial solutions with Tapeeze’s advanced tokenization and biometric security creates a robust offering poised to transform how organizations interact with their audiences. Sports clubs, in particular, stand to benefit by offering fans a seamless and engaging way to support their teams while enjoying added perks and benefits. The successful adoption by Swedish sports clubs serves as proof of concept, demonstrating the feasibility and advantages of these innovative payment solutions.
Organizations in other sectors, such as entertainment, automotive, and retail, are expected to follow suit, driven by the potential for enhanced customer loyalty and incremental revenue. The ability to issue secure, branded payment cards quickly and without the typical regulatory hurdles presents a unique value proposition. This versatility and ease of implementation, combined with strong security features, make these tokenized cards an attractive option for any organization seeking to innovate and stay ahead of the curve in customer engagement strategies.
Looking Ahead
Tietoevry Banking, a leading provider of financial SaaS solutions in the Nordics and beyond, has partnered with the Swedish FinTech company Tapeeze to launch innovative tokenized payment cards. These cards, aimed at banks, FinTech firms, and branded organizations like sports clubs, automakers, and music festivals, are designed to be custom-branded and multifunctional, without the need for complex infrastructure or regulatory approvals. They come with secure payment capabilities via Visa™ and Mastercard™ networks, aimed at significantly boosting customer and fan engagement.
Tietoevry Banking, with decades of experience in payments, fraud prevention, lending, and WealthTech, serves clients in over 60 countries and is renowned for its modular, scalable solutions that enable swift product deployment. Tapeeze, a new company, has distinguished itself with tokenized payment features usually seen in digital wallets like Google Pay and Apple Pay, now extending these to physical cards. This collaboration marks a significant advancement in secure payment solutions, leveraging both companies’ strengths for a more comprehensive offering.