Swedish fintech firm Fidesmo has expanded its partnership with private banking company SEB to launch Fidesmo Pay in Denmark and Finland.
Fidesmo Pay is the wearable payment service of the fintech company.
Fidesmo connects contactless payments and other contactless services to many devices.
Its wearable payment offering Fidesmo Pay will allow banks to provide their customers with the ability to make contactless payments.
Bank customers can use a wearable of their choice to make the payments.
Recently, the fintech firm partnered with Swiss watch brand Mondaine to connect its wearable payment service.
The partnership will connect Fidesmo Pay as well as payment cards to the Mondaine PayChip service for enabling contactless payments via Mondaine’s watch collection.
In 2019, SEB already rolled out Fidesmo Pay to its customers in Sweden and Norway.
Now the private lender will offer the service in Denmark and Finland.
Moreover, the partnership aims to enable other European banks’ cardholders to make contactless payments using the Mondaine PayChip.
Fidesmo claims that the wearable devices that offer Fidesmo Pay services come from various European brands. These wearables can be purchased online or in-store.
Established in 2013, Fidesmo connects contactless services, such as public transport tickets, office or hotel, and car keys, to both passive and active devices, in addition to payments.
It provides manufacturers with a streamlined integration process to add contactless services to their devices while allowing contactless service providers to distribute their services without any hardware.
In November last year, US-based digital banking and payment solutions provider i2c partnered with fintech firm Purewrist, to enable contactless payments on wearables.