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December 19, 2011

Vincento, ID Data partner for contactless payment watch

UK-based Vincento Payment Solutions has partnered with ID Data cards, a member of the TALL Group Companies, to support the launch of a new watch that can be used for contactless payments The companies said the Watch2pay gadget will be used to purchase items of up to £15 ($23) at 70,000 retail stores in the UK ID Data will supply a matched pair of cards, one containing an embedded chip in a pop-out, which will be fitted in each watch along with a fully functional Paypass companion card to meet the necessary payment regulations

By Verdict Staff

UK-based Vincento Payment Solutions has partnered with ID Data cards to support the launch of a new watch that can be used for contactless payments.

A joint statement said the Watch2pay gadget will be used to purchase items of up to £15 ($23) at 70,000 retail stores in the UK

ID Data will supply a matched pair of cards, one containing an embedded chip in a pop-out, which will be fitted in each watch along with a fully functional Paypass companion card to meet the necessary payment regulations.

Vincento’s role will include providing the back-office infrastructure via the company’s Kalixa prepaid payment solution.

Suresh Vaghjiani, head of product management at Vincento Payment Solutions, said:

“[The initiative] will create an alternative payment solution that is the first commercially available non card or phone payment device in the UK.”

ID Data is well acquainted with Vincento, as since 2008 it has been the electronic money issuer’s card supplier.

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