Morpho (Safran) has finalized its acquisition of AirTag, a French startup specialized in innovative mobile payment solutions. This latest acquisition further reinforces Morpho's growth strategy in the digital security market.
AirTag develops secure mobile transaction solutions for banks, payment networks and retail. The company developed AirPass, a "virtual bank card" solution using HCE* (Host Card Emulation) technology and based on a proprietary Tokenization platform (involving a single-use payment token), now being deployed by major players in the e-payment sector. AirTag also offers retail customers an innovative e-wallet service called AirShop, providing payment, loyalty and other smartphone-based services.
For the payment market, Morpho offers identification, digital signature and multi-factor authentication solutions, including biometric authentication, to ensure the security of online transactions from a smartphone or online. By combining their areas of expertise, the two companies will be able to manage the multiple security aspects involved in mobile payments. Anne Bouverot, CEO of Morpho, said, "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." Jérémie Leroyer, co-founder and CEO of AirTag, added, "We are both proud and delighted to join Morpho, giving us access to a global distribution network that will accelerate our development. Our combined solutions perfectly match the requirements of banks and retailers, who seek to optimize the customer experience, while also guaranteeing maximum smartphone transaction security."
*Players in the electronic payment sector have specified the HCE (Host Card Emulation) solution to facilitate the use of contactless mobile payment systems.
