Timex Group has officially launched a range of watches and watch straps that let the wearer make tokenized payments at any merchant equipped to accept Visa contactless payments, according to NFC World.
The new Timex Pay collection includes a range of watches that each come with a contactless payment chip embedded into the strap. A selection of leather, fabric and silicone watch straps that can be used to add Timex Pay to an existing watch is also available.
Owners use a Timex Pay branded mobile app and a Timex Pay clip, both developed by Tappy Technologies, to add a tokenized version of an existing payment card to their new watch or strap.
The service is currently available for Chase Visa debit and credit cardholders “with many more issuers planning to join in the future.”
“This is huge news for the wearable payments market,” Tappy CEO Wayne Leung told NFCW. “The launch of Timex Pay means that consumers in the US for the very first time can add their own payment card to their own choice of traditional timepiece.”
“No batteries are required and setup is quick and simple. Consumers simply use the mobile app and the Timex Pay branded UPPU passive provisioning clip that ships with every watch and strap to push a tokenized version of their payment card to the contactless payments module in their new watch strap.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
