Morpho (Safran) has acquired AirTag: a French startup specializing in mobile payment technology.
Called AirTag, the company is the developer of a Host Card Emulation (HCE) solution that uses tokenization to enable secure electronic payments via what Morpho describes as a “virtual bank card”. In other words, it’s a mobile payment platform. AirTag also offers an e-wallet platform for smartphones called AirShop.
The acquisition follows very quickly on Morpho’s announcement that it will be moving into mobile authentication, particularly in the area of mPayments. Given the company’s expertise in biometric authentication and other sophisticated security technologies, the acquisition of a startup specializing in electronic payments would seem to be a logical next step in that direction.
Morpho CEO Anne Bouverot said as much while commenting on the acquisition in a press release, explaining that the “complementary capabilities of our two companies in this strategic sector will enable us to offer more security and convenience to our bank and retail clients, from customer acquisition to mobile payment.”
December 10, 2015 – by Alex Perala