What Fidesmo does

Fidesmo AB is a Swedish private company founded in 2013 by former Ericsson employees Mattias Eld (CEO) and Miguel Cardo (CTO), headquartered in Stockholm with R&D offices in Madrid. It operates a technology-agnostic Secure Element management platform that enables contactless services to be provisioned and remotely managed on chips embedded in wearables, smartphones, cards, and key fobs. The platform supports multiple contactless service types, including payments, public transport ticketing, access control, digital ID (eIDAS-based), and digital car keys (CCC standard), and is integrated with Visa VTS, Mastercard MDES, Bancontact, Samsung Key Management Service, NXP secure elements, and Infineon SECORA Connect S chips.

The company's flagship product, Fidesmo Pay, is a tokenization service that connects payment cards issued by over 860 banks across 40+ countries to passive wearables (rings, bracelets, watch straps, key fobs) for contactless tap-and-pay at any EMV terminal. Beyond payments, Fidesmo offers a Digital ID module, an Access Control module powered by SEOS, public transport ticketing supporting MIFARE DESFire and the Swedish BoB standard, and a Digital Key module following the CCC specification. The platform exposes RESTful APIs (Service Delivery API, Transceive API, Java Card/Cardlet Management API, MIFARE DESFire API) and is operated via a consumer-facing Fidesmo App on Android and iOS that serves as the touch point for service delivery.

Fidesmo generates revenue through three primary streams: platform/technology licensing to device OEMs (integration fees, per-device fees, and platform access charges), tokenization services to issuing banks (per-transaction or per-activation fees), and service provider enablement for transit operators, access control providers, and digital ID issuers (subscription/API/usage fees). Its customer base spans major European banks (Nordea, DZ Bank, Volksbanken Raiffeisenbanken, Sparda Banks), global payment networks (Visa, Mastercard, Bancontact, Curve), smartphone OEMs (Samsung), secure element suppliers (NXP, Infineon), wearable brands (Swatch, Polar, Hama, TAPSTER, PAGOPACE, HyperRing), and public transport authorities (Madrid CRTM, Swedish BoB/Samtrafiken).

Name

Fidesmo

Legal name

Fidesmo AB

Website

https://fidesmo.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Fidesmo is a Swedish Secure Element management platform that enables banks, device OEMs, and service providers to provision contactless payments, transit, access, digital ID, and car keys onto wearables, smartphones, and cards via Visa and Mastercard tokenization.

Ownership category

akta.pro rank

Product category

Contactless Services Platform

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Mobile Wallets (NFC Tap-to-Pay / HCE) (FSAMAEAB)

akta.pro secondary industries

Payment Gateways & Orchestration (BPAMAFAA), Authentication (MFA/Passwordless/Biometrics) Platforms (BPAMAEAE)

Keywords

• Contactless payment platform
• Secure element management
• Wearable payment tokenization
• Contactless service orchestration
• Payment applet management

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Platform / Technology Licensing: Fidesmo licenses its secure element management platform to device manufacturers (OEMs, wearable brands, phone makers), enabling them to embed contactless payment and other services. Revenue is generated through integration fees, per-device fees, and ongoing platform access charges. The company offers both standardized plug-and-play integration and customized white-label deployments.
2. Tokenization Services: As a token requestor integrated with Visa VTS and Mastercard MDES, Fidesmo earns fees for provisioning and managing payment tokens on behalf of issuing banks. Banks activate Fidesmo Pay to enable their customers to connect cards to wearables and devices, generating per-transaction or per-activation fees.
3. Service Provider Enablement: Public transport operators, access control providers, and digital ID issuers use the Fidesmo platform to deliver and manage their services on secure elements. Revenue may come from service delivery fees, API usage fees, or per-user charges.

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Fidesmo operates a Secure Element management platform that delivers contactless services (payments, public transport ticketing, access control, digital ID, and car keys) to any device embedding NFC secure elements, including wearables, phones, cards, and key fobs. Its flagship product, Fidesmo Pay, provides tokenized contactless payment integration with Visa (VTS) and Mastercard (MDES), enabling 860+ banks across 40+ countries to provision card credentials to wearable form factors. The platform is exposed through RESTful APIs and orchestrated through the Fidesmo App as the consumer touchpoint, allowing device manufacturers, banks, payment schemes, transport operators, and identity issuers to integrate without building their own secure element infrastructure.

Product overview

Fidesmo operates as an independent platform company enabling contactless services on Secure Elements across multiple device form factors. The core Fidesmo Platform delivers services through a two-layer architecture: the Service Delivery API for session orchestration and Service Operation APIs (Transceive, CCM for Java Card, MIFARE DESFire) for device interactions. The flagship product Fidesmo Pay provides contactless wearable payments via tokenization, supporting over 860 banks across Mastercard and Visa. Beyond payments, the platform offers specialized modules for Digital ID (eIDAS-based), Access Control (SEOS), Public Transport Ticketing (MIFARE DESFire, BoB), and Digital Key (CCC standard for connected vehicles). The ecosystem includes consumer mobile apps, REST APIs for developers, and partnerships with secure element providers (NXP, Infineon, Samsung) and payment networks.

Differentiator

Problem solved

Functional benefit

Brands

• Fidesmo Pay: The company's flagship contactless payment service that enables secure payments on wearables and devices through tokenization.

Products and services

• Fidesmo Platform Flexible, technology-agnostic Secure Element management platform that orchestrates the delivery of contactless services (payments, public transport ticketing, access control, digital ID, car keys) to devices embedding NFC secure elements (wearables, phones, cards, key fobs). Acts as middleware between service providers and SE hardware via RESTful APIs.
• Fidesmo Pay Tokenized contactless payment service enabling banks to provision card credentials to wearables and devices via Visa VTS and Mastercard MDES; supports dual payment scheme tokenization for passive wearables and works at any contactless terminal.
• Fidesmo Digital ID Electronic ID product that securely digitizes physical IDs onto secure elements in phones and devices, enabling authentication for mobile apps and cross-EU ID interoperability via the eIDAS Token standard.
• Fidesmo Access Control Contactless access control service delivering physical access credentials (office, hotel, enterprise) onto secure elements in wearables and devices, powered by SEOS credential technology.
• Fidesmo Public Transport Ticketing Service that loads public transport tickets and travel passes onto secure elements in phones and wearables via MIFARE DESFire and the BoB national ticket standard, eliminating dedicated transport cards.
• Fidesmo Digital Key Connected vehicle credential service that provisions digital car keys to phones and wearables via NFC and Ultra-Wideband under the CCC Digital Key specification.
• Fidesmo Java Card API API endpoints for managing Java Card applets (Cardlets) on Secure Elements, including CAP file upload, installation, personalization, deletion, and sandboxed Security Domain per Service Provider via GlobalPlatform 2.1.1; supports Java Card 2.2.2 and 3.0.1 Classic.
• Fidesmo MIFARE DESFire API API endpoints for deploying and managing MIFARE DESFire applications remotely on compatible chips: create DESFire application, send DESFire commands via transceive, and delete DESFire application.
• Fidesmo Service Delivery API and Transceive API Service Delivery API orchestrates service-delivery sessions initiated by touchpoints; Transceive API transmits sequences of APDUs through the Fidesmo backend to cards for custom operations. Live documentation at apps.fidesmo.com/api.
• Fidesmo Encrypted User Interaction Framework Framework that lets service providers request additional information from users (fields) or push actions to devices through Fidesmo touchpoints, with end-to-end encryption using RSA/OAEP + AES/CBC.
• Fidesmo App Mobile application for Android and iOS that acts as the touchpoint for Fidesmo's service-delivery sessions, enabling end users to receive and manage contactless services such as payments, ticketing, and access credentials on their devices.
• FDSM (Fidesmo developer CLI) Open-source command-line client for testing the full Service Delivery Process and developing/testing/managing Java Card and SE applications on the Fidesmo platform; available at github.com/fidesmo/fdsm.

Quantifiable outcome

• 860+ financial institutions supported across 40+ countries (May 2025)
• +4 more outcomes

Named customers12 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration18 records

Feature7 records

Partnerships

25 partnerships are on record, tiered core and secondary.

• VisacoreTechnology or IntegrationFidesmo is fully integrated with Visa and its tokenization platform VTS (Visa Token Service). This integration allows any Visa-issuing bank to activate Fidesmo Pay, enabling customers to add a Visa payment token to wearables. The partnership was announced in January 2021 and has been key to Fidesmo's European expansion.
• MastercardcoreTechnology or IntegrationFidesmo is fully integrated with Mastercard and its tokenization platform MDES (Mastercard Digital Enablement Service). Any Mastercard issuer can enable Fidesmo Pay for their customers. The partnership also includes programs such as an international refugee support program.
• SamsungcoreTechnology or IntegrationFidesmo partners with Samsung Electronics Nordics and Samsung Iberia. Since 2019, Fidesmo has been integrated to Samsung Key Management Service (SKMS), enabling contactless services (public transport ticketing, access control, digital ID) to be remotely provisioned to Samsung devices' embedded Secure Elements (eSE). Fidesmo acts as onboarding middleware.
• NXP SemiconductorscoreTechnology or IntegrationFidesmo has worked with NXP since 2013 to provide secure elements to the market with pre-loaded keys for Payment, Access, and other services. NXP ensures high-quality secure elements that meet the highest security and flexibility requirements.
• Infineon TechnologiescoreTechnology or IntegrationFidesmo partnered with Infineon to provide connectivity and security in IoT, mobility, and payments. The partnership combines Infineon's SECORA Connect S secure element with Fidesmo Pay's tokenization platform, allowing OEMs to access connected issuers through a single integration.
• ARE CONcoreTechnology or IntegrationARE CON GmbH & Co. is a consulting and production company in the smart card arena, serving card manufacturers, government printers, system integrators, and resellers. Fidesmo works with ARE CON on payments, access, and more, using ARE CON as a preferred partner for sourcing chips for passive devices.
• adessosecondaryImplementation/ SI/ Consulting Partneradesso is one of Germany's largest IT consultancy firms. Fidesmo and adesso collaborate on high-security ID services including authentication and identification solutions based on eIDAS regulation, enabling B2B use cases like employee ID.
• SEOSsecondaryTechnology or IntegrationSEOS provides next-generation credential technology for physical access control. Since 2021, Fidesmo has delivered SEOS integrations for any device manufacturer wanting to provide contactless access solutions. SEOS is software-based and extends beyond physical access to enterprise, education, government, and hospitality use cases.
• BoB (Swedish National Ticket Standard) / SamtrafikensecondaryTechnology or IntegrationFidesmo is fully integrated into the new Samtrafiken standard for Swedish public transport ticketing (BoB). This bridges hardware and ticketing systems, enabling commuters to use alternative ID-bearers (wearables, phones) instead of local transport cards.
• CRTM (Consorcio Regional de Transportes de Madrid)secondaryStrategic or Co-development PartnerFidesmo is working with Madrid CRTM (which manages 5+ million trips per day) on a pilot to digitize the user experience and integrate several current transport cards into mobile devices with Samsung as the device partner.
• BancontactsecondaryTechnology or IntegrationFidesmo is fully integrated with Bancontact and its tokenized payment scheme, allowing Bancontact bank clients to offer dual-branded wearable solutions for contactless payments at the same locations as their debit cards.
• VIMpay / petaFuelsecondaryGTM or Marketing PartnerpetaFuel is a German payment provider and card processor. Their VIMpay app enables bank-independent contactless payment services on the Fidesmo platform. VIMpay is currently available in Germany and Austria with plans to expand to other European markets.
• NordeacoreTechnology or IntegrationNordea, a 200-year-old Nordic universal bank handling nearly 2 billion card payments per year, partnered with Fidesmo to offer wearable contactless payments (bracelets, rings, key fobs) to its customers. Fidesmo complements Nordea's existing Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay offerings.
• DZ BankcoreTechnology or IntegrationDZ Bank enabled Fidesmo Pay across the German Cooperative Bank network, which includes Volksbanken Raiffeisenbanken and Sparda Banks. The bank views wearable payments as an important part of its mobile payment portfolio.
• Car Connectivity Consortium (CCC)coreStrategic or Co-development PartnerFidesmo joined the CCC in March 2026 to participate in defining how personal devices interact with vehicles, particularly through the CCC Digital Key specification. This positions Fidesmo to deliver digital car keys and connected vehicle credentials to devices within its secure element network.
• VezoPaysecondaryTechnology or IntegrationSouth African fintech start-up VezoPay partnered with FNB (First National Bank) to introduce South Africa's first smart payment ring. Fidesmo's platform enables the contactless NFC payment functionality for the ring, which is certified by Mastercard and Visa.
• SwatchsecondaryTechnology or IntegrationSwatch partnered with Fidesmo as the payment platform for SwatchPAY!, enabling contactless payments through Swatch watches.
• PolarsecondaryTechnology or IntegrationHealth and fitness wearable manufacturer Polar partnered with Fidesmo to bring contactless payment functionality to its fitness tracking devices.
• HamasecondaryTechnology or IntegrationGerman consumer electronics accessory brand Hama partnered with Fidesmo to bring contactless payment technology to Hama wearable devices.
• MaxcomsecondaryTechnology or IntegrationPolish telecommunications and fintech company Maxcom partnered with Fidesmo to accelerate the adoption of payment devices in Poland.
• TapeezesecondaryTechnology or IntegrationFidesmo signed with Tapeeze to elevate card customization and expand the availability of contactless services.
• LEGICsecondaryTechnology or IntegrationFidesmo partnered with LEGIC to enhance contactless access control solutions, integrating LEGIC's credential technology into the Fidesmo platform.
• HyperRingsecondaryTechnology or IntegrationHyperRing partnered with Fidesmo to power a new generation of inclusive tech jewellery with contactless payment capabilities.
• PixelasecondaryTechnology or IntegrationPixela entered the wearable payment market through a technology partnership with Fidesmo.
• NXP MIFARE DESFirecoreTechnology or IntegrationFidesmo supports MIFARE DESFire EV1 technology from NXP for public transport ticketing and access control in mobile phones and other devices. Fidesmo's platform includes an applet that routes commands to the MIFARE DESFire implementation on NXP chips.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Tappy Technologies: Tappy Technologies is a white-label wearable payment tokenization provider that enables banks to issue payment credentials to analog watches, bracelets, and key fobs. Like Fidesmo, Tappy sits between payment schemes and OEMs as a token requestor and contactless service orchestrator, making it the closest direct competitor.

Others

• Infineon Technologies: Infineon is a partner via its SECORA Connect S secure element integrated with Fidesmo Pay, and an adjacent ecosystem player in secure elements for payments, IoT, and mobility. Comparable to NXP as a supplier and overlapping in payment card secure-element platforms.
• NXP Semiconductors: NXP is both a key technology partner (supplying secure elements and MIFARE DESFire chips) and an adjacent ecosystem participant to Fidesmo. NXP's connectivity and secure-element portfolio underpins much of Fidesmo's hardware base, and NXP competes in adjacent secure-element service platforms.

Broad incumbents

• Giesecke+Devrient (G+D): G+D is a global secure technology group that provides trusted service management (TSM), secure elements, payment cards, and identity solutions. While much larger and broader than Fidesmo, G+D competes in the same secure-element service provisioning space and serves many of the same bank and transit customers.
• Thales Digital Identity & Security: Thales' DIS division provides secure elements, SIM-based and embedded secure-element orchestration, payment card issuance, and digital ID infrastructure. It operates as a TSM and middleware provider to banks, OEMs, and governments, overlapping with Fidesmo's platform across payments, identity, and access control.
• IDEMIA: IDEMIA is a global leader in payment cards, secure elements, biometric authentication, and digital identity for financial institutions and governments. While much broader than Fidesmo, IDEMIA competes in trusted service management and contactless service provisioning across payments, transit, and ID use cases.

Emerging players

• Curve: Curve is a payment card aggregation platform that consolidates multiple cards into a single tokenized credential, with a Fidesmo Pay integration enabling Curve cards on wearables. It addresses a similar consumer pain point (single credential across cards) but via a different consumer-app model rather than a B2B middleware model.
• Zwipe: Zwipe develops biometric payment cards and tokenization infrastructure for contactless payments, addressing the same 'card-independent' payment use case as Fidesmo's wearable rings and key fobs. Zwipe is a focused emerging competitor in passive, secure-element-based contactless payments.
• SEALSQ (formerly Wisekey): SEALSQ provides secure semiconductors, PKI, and digital identity services for IoT, payments, and connected vehicles. It competes in adjacent secure-element provisioning and identity verticals where Fidesmo's digital ID and CCC Digital Key modules are expanding.
• Nymi: Nymi provides wearable biometric authentication (continuous authentication via wristbands) for physical and logical access use cases. While more focused on workforce identity than payments, Nymi overlaps with Fidesmo's digital ID and access control modules on wearable secure elements.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Fidesmo
• LinkedInlinkedin.com/company/fidesmo

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fidesmo