01/12/2011
By Scott Thompson
Watch2pay, the UK’s first ever prepaid contactless wristwatch, has launched.
This is enabled with PayPass technology from MasterCard who has worked with watch manufacturer LAKS and issuer Vincento to bring it to market.
Matt Lanford, head of prepaid at MasterCard Europe, says: “Since we introduced contactless to the world nearly a decade ago, we’ve been driving innovation in Tap & Go payments, with nearly 100 million PayPass cards and devices now issued globally. We’re maintaining that momentum by working with Vincento and LAKS to bring together prepaid and contactless payments in a wristwatch for the very first time in the UK, offering consumers a safe, simple and smart way to pay for everyday items.”
Contactless wristwatches are already in use in Turkey, Poland and a number of markets in Asia. Consumers can purchase a LAKS wristwatch at www.watch2pay.co.uk. It comes with a reloadable MasterCard prepaid card which is not linked to a bank account or any line of credit. The card is valid up to two years and accepted at over 32 million retail locations worldwide.
