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January 18, 2019

Swatch, Wirecard collaborate on contactless payments

Watch manufacturer Swatch has partnered with payments technology firm Wirecard to launch its payment service SwatchPAY! in Switzerland.

The move enables users of Wirecard’s mobile payment app boon to access SwatchPAY! .

Wirecard executive vice president of consumer solutions Georg von Waldenfels said: “The benefits for consumers of being able to pay with their watch and boon mean a new level of freedom in everyday life.

“Our customers can now use their digital boon cards with their favorite Swatch watches – without having to take their wallet or smartphone with them.”

Users in Switzerland can add their digital boon cards to SwatchPAY! from next month and make payments anywhere Mastercard contactless is accepted.

The payment service will be supported by four Swatch watch models, namely Blackback, Pastel, Chic and Magic.

To use the service, users have to download the SwatchPAY! App and add the digital boon card to the SwatchPAY! wallet. They can make payments by holding the watch in front of the payment terminal.

SwatchPAY! and boon does not reveal card data to merchants or Swatch, thereby addressing security concerns.

Swatch creative director Carlo Giordanetti said: “It has never been more convenient to pay anytime, anywhere using the Swatch on your wrist: carry out the tokenisation, hold the watch to the payment terminal, done! SwatchPAY! is simple, stylish and typical Swatch!”

 

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