Visa announces wearable payment deals

Visa has partnered with Spain’s CaixaBank and the National Bank of Greece to enable European customers to pay for goods using their wearable devices.

CaixaBank and Visa have teamed up with Garmin in Spain to enable Visa cardholders who own a Garmin watch to make in-store payments. Customers can load their Visa card onto the device and complete payments anywhere that accepts contactless.

Using token technology, the card number is not stored on the device or on the servers, and it is not transmitted to the establishment where the device is being used to pay. Each time the customer makes a payment with their Garmin watch they will be notified by a message on the device.

Due to launch in the first half of 2018, the new service will soon be available across more than 20 Garmin wearables. CaixaBank will be the first bank in Spain to offer ‘Garmin Pay’, with the partnership announced at this week’s Mobile World Congress in Barcelona.

Also announced at the conference was Visa’s deal with the National Bank of Greece, Greek jewellery designer Folli Follie and its British brand Links of London. The organisations have all collaborated to create rings and bracelets designed for completing contactless payments.

Mike Lemberger, head of product and solutions at Visa Europe, said: “As the global payment landscape continues to evolve from plastic to digital, Visa continues to innovate and work with partners like the National Bank of Greece and jewellery brands Folli Follie and Links of London to develop a solution that will bring consumers a simple and secure purchasing experience.”

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