Hong Kong Fintech Week 2024: Tappy Technologies Unveils Fitness Ring With Tokenised Payment Capabilities

At Hong Kong Fintech Week 2024, Tappy Technologies introduced the Tappy Fitness Ring, a wearable device that combines health-tracking features with tokenised payment capabilities. Developed in collaboration with Thales, a provider of secure payment technology, the ring offers a dual-purpose solution for monitoring fitness metrics and conducting contactless transactions.

The Tappy Fitness Ring tracks a range of health metrics, including heart rate, blood oxygen levels, sleep patterns and activity data. Along with fitness tracking, the ring can be tokenised with debit, credit and prepaid cards from associated card schemes, enabling secure contactless payments. This functionality, powered by Thales’ secure element chips, allows users to make payments by tapping the ring against a compatible terminal.

"We are introducing the world’s first tokenised payment and fitness ring, merging fitness tracking with secure contactless payment capabilities," said Wayne Leung, CEO of Tappy Technologies. He noted the role of Thales in ensuring secure, tokenised payments for users. Suboor Ahmed, Chief Operating Officer of Tappy Technologies, added that the ring meets global payment standards, aiming to provide an accessible fitness and payment tool for users.

The Tappy Fitness Ring offers a water-resistant design and a long-lasting battery. It connects to a mobile app, where users can review both their fitness data and transaction history.

Hong Kong FinTech Week 2024, running from 28 October to 1 November, is an event hosted in Hong Kong and Shenzhen that attracts fintech professionals, investors and government leaders globally. It provides a platform for discussing innovations in finance, digital banking, payments, blockchain, artificial intelligence and other advanced technologies.

The event's agenda includes multiple forums and sessions covering current fintech topics, such as tokenisation, cross-border payments, AI governance and digital bonds. It also features networking opportunities and presentations from startup finalists of the Global Fast Track competition, who will pitch to investors and corporate leaders. This year’s lineup of speakers includes influential figures from major financial and tech companies, like Ant Group, HSBC, Standard Chartered and Tencent, alongside governmental representatives and industry regulators from both Hong Kong and Mainland China.