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March 18, 2016updated 04 Apr 2017 3:59pm

Mondaine, Oberthur to offer watch contactless payments

Swiss watch maker Mondaine has partnered with French digital security firm Oberthur Technologies (OT) for watch contactless payments firstly in the country.

By Verdict Staff

Swiss watch maker Mondaine has partnered with French digital security firm Oberthur Technologies (OT) for watch contactless payments in Switzerland.

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Under the partnership, OT will offer the world’s first contactless payment chip the size of a SIM card for the watch market.

OT, in a statement, said that its pay chip can be inserted into the watch band or loop and can be removed and inserted with another watch, thereby allowing users to always have their ‘OT credit card’ with them.

Mondaine CEO André Bernheim said: "The contactless payment device from OT which Mondaine can launch exclusively is a clear statement of the family owned company (since 1951) to be at the forefront of technology.

"The Mondaine pay chip inside our watch strap, provided by OT, allows the consumer not only to be independent of its wallet but also to switch the pay chip between watches. This definitively gives us advantages over our competitors in the watch and mobile industry."

OT managing director of the financial services institutions business Eric Duforest said: "This demonstrates our commitment to innovation and to offering high-end wearable products. This state-of-the-art product will enable banks to propose an enhanced value proposition to their cardholders, including the convenience of contactless payment."

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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