First Investment Bank (Fibank) has partnered with Mastercard and Garmin to enable watch payments for its customers in Bulgaria.
The payment approach will be made possible via Garmin Pay, which can be used by Fibank customers with Mastercard cards for payments through Garmin watches.
Under the Garmin Pay watch payment project, customers will be able to use the new service at all contactless POS terminals and contactless ATMs.
The Garmin Pay service is supported by the Mastercard Digital Enablement Service (MDES) technology and card registration can be done through the Garmin Connect Mobile (GCM) app.
Also, the service is intended for people with an active lifestyle and athletes. It eliminates the need to carry a bag, wallet, card or a smartphone.
Mastercard manager for Bulgaria, Northern Macedonia, Albania and Kosovo, Vanya Manova said: “Central and Eastern Europe is a global leader in the development of contactless payments and their huge success has created a demand for even more functionalities.
“Bulgaria is among the countries where modern technologies are quickly finding a home and a favourable environment for development. Garmin Pay brings us one step further in delivering secure and convenient payment innovations.”
Fibank and Mastercard previously partnered in 2010 to launch the PayPass contactless payment technology in Bulgaria. Later in 2016, the partners introduced the first digital card in the country.
The latest launch of watch payment in alliance with Garmin expands the companies’ collaboration.