Flywallet is a digital payment and identity system that integrates itself into existing banking systems. It is based on economic wearable and biometric authentication that makes daily activities such as contactless payments, ticketing, access to websites and physical locations and finally digital identity, easier and safer.
This startup is currently in the fundraising phase. Founder and CEO Lorenzo Frollini announces: “by the end of the year we will be launching our first wearable payment on the market with our main banking partner. We will add more functions gradually”.
After the debut on the Italian market, with the first wearable device, the idea is to expand abroad “also looking for new partners within Fintech District”. Frollini explains that he decided to join the community considering it “the ideal ecosystem to grow quickly and to have the opportunity to compare and create synergies with other startups and other Italian and international fintech players”.
Going back to the idea behind Flywallet, Frollini explains how it all started by noting that today we are all tired of carrying cash and payment cards and remembering PINs and passwords, so we rely more and more on smartphones for our lives.
“What if someone could access our device by bypassing the security systems? In an instant we would lose our identity, our money and access to our personal data – explains Frollini – With Flywallet everything is safer because it is a stand-alone device with proprietary firmware and an innovative algorithm that makes each transition unique and temporary. A fingerprint is sufficient for confirmation. It can be integrated into multiple media such as bracelets key rings, watch straps and such, so each user can choose the style they prefer.
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