Almost 40% of all Mastercard card transactions in Ukraine at offline retail stores are made with NFC-enabled smartphones and devices today. Payments with wearable devices like watches and wristbands are gaining popularity particularly fast: Ukraine is already on the top-3 list of Europe’s leading countries by the number of such payments.
Mastercard and the Swiss watch brand, Swatch, are launching a new contactless payment service in Ukraine – SwatchPAY! From now on, owners of SwatchPAY! Watches will be able to pay with their watches wherever there is a contactless payment terminal: at stores, cafes, public transport, etc. Contactless payments with SwatchPAY! are now available to the holders of Mastercard cards issued by Bank Vostok, Oschadbank and PrivatBank.
SwatchPAY! uses an NFC chip hidden underneath the watch dial. To make a payment customer just needs to place the watch next to the contactless payment terminal. The SwatchPAY! Watch is water-resistant to a depth of 30 meters, and unlike any smartphone, doesn’t require batteries to make payments, which makes it even more flexible and durable payment tool.
“Never has contactless payment been this popular! We are all the more excited to launch SwatchPAY! in Ukraine together with our strong partners from Mastercard, Bank Vostok, Oschadbank, and PrivatBank,” says Bernardo Tribolet, Vice President Marketing at Swatch International. “Setting up your SwatchPAY! is simple, fast and does not come at any extra costs. To use SwatchPAY!, there is no need to separately activate the payment function or keep the watch within the range of the connected smartphone, which makes contactless payment safe and convenient.”
“Almost 40% of all Mastercard card transactions in Ukraine at offline retail stores are made with NFC-enabled smartphones and devices today. Payments with wearable devices like watches and wristbands are gaining popularity particularly fast: Ukraine is already on the top-3 list of Europe’s leading countries by the number of such payments. We are convinced that the SwatchPAY! Watch will become a popular accessory and payment device among Ukrainians. It does not require additional charging, it is always on your wrist, and payments are made in the quickest, easiest and, more importantly, safest way due to the Mastercard digital platform”, says Yuriy Batkhin, Vice President for Business Development, Mastercard Ukraine and Moldova.
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Today, 13 models featuring SwatchPAY! that enable contactless payments are available in Ukraine.
SwatchPAY! is powered by the Mastercard global digital tokenization platform that replaces the card number with a unique 16-digit combination – a token. At the moment of purchase tokens replace actual card details thus ensuring maximum security of a payment transaction.
Banking 4.0 – „how was the experience for you”
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Many more interesting quotes in the video below:
