MasterCard has teamed with Swiss cyber security firm WISeKey to enable contactless payments on select luxury brand watches and wearables.
The cyber security firm is currently working with premium watch manufacturers, including Hublot and Bulgari, which uses its patented security software WIS.WATCH.
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MasterCard said the collaboration will add new devices and brands to its ongoing MasterCard programs, which brings payments to any consumer gadget, accessory or wearable – from fitness bands to refrigerators.
Under the partnership, MasterCard will deploy its payments technology with WISeKey’s Cryptographic Root of Trust for IoT and NFCTrusted technology solutions that will enable users to securely shop using their watch or wearable.
MasterCard senior vice president of digital payments and labs Sherri Haymond said: "Our collaboration with WISeKey is a great example of how payments functionality can deliver transformative more value for a variety of device manufacturers, and create safe and convenient shopping experiences for their consumers."
WISeKey CEO Carlos Moreira said: "Working together, WISeKey and MasterCard will open the door to additional e-commerce and marketing opportunities for luxury wearable device and watch manufacturers."
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By GlobalData
