French security and identity vendor Morpho (Safran) has acquired mobile payment startup AirTag to further strengthen its growth strategy in the digital security market.
AirTag provides secure mobile transaction solutions for banks, payment networks and retail.
AirTag’s AirPass product is a virtual bank card solution, which uses HCE (Host Card Emulation) technology and is based on a proprietary Tokenization platform.
The company also offers an e-wallet service for retail customers called AirShop that provides payment, loyalty and other smartphone-based services.
Morpho CEO Anne Bouverot 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."
AirTag co-founder and CEO Jeremie Leroyer said: "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."
Morpho specializes in providing identification, digital signature and multi-factor authentication solutions, including biometric authentication, to ensure the security of online transactions from a smartphone or online.