Visa Taking Steps to Make Wearable Payments a Reality

The moment of wearable payments is around the corner, as Visa has reached an agreement with National Bank of Greece and CaixaBank. The purpose of these deals is to allow customers to make secure transactions via their watches and jewellery.

Mike Lemberger, head, product and solutions for Visa in Europe, shared his thoughts in the following words. “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.”

Visa and National Bank of Greece have engaged ‘Links of London’ and ‘Folli Follie’ to make bracelets and rings, which will assist people to make secure payments at any contactless-enabled terminal with just a tap.

Besides, the Visa has also gone partners with CaixaBank of Spain to allow Garmin watch owners for making contactless payments with their devices in near future.

Both these deals were announced this week at the Mobile World Congress in Barcelona. Mastercard, the strong competitor of Visa, is confident in saying that approximately one-quarter of Europeans foresee the use of tap-and-go payments with a bracelet, keyring, smartwatch or other similar wearables.

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