Swiss watch manufacturer Swatch has teamed up with German payments firm Wirecard to launch its payment service SwatchPAY! in Germany and Austria.
The new partnership enables contactless payments with new Swatch watches using Wirecard’s mobile app boon.
Wirecard executive vice president group business development Georg von Waldenfels said: “Mobile payment methods are becoming increasingly popular, and for a long time we have been driving this development forward.
“The fact that Swatch relies exclusively on Wirecard as its technology partner for the implementation of its SwatchPAY! strategy demonstrates our leading position in this area.
“With the new SwatchPAY! watches, users of our popular app boon now have even more opportunities to pay easily and securely.”
Those having Swatch watches can access a virtual Mastercard through the boon app that is then stored in SwatchPAY!.
The users have to hold their watch in front of a payment terminal in order to make a payment. They can top up their virtual cards with the help of credit card or bank transfer.
As an added advantage, the watches do not require batteries to work and are also water-resistant.
Swatch creative director Carlo Giordanetti said: “It has never been more convenient to pay, anytime and anywhere, with the watch on your wrist. The new method of payment is secure, uncomplicated and stylish – typical Swatch!”
Earlier this year, Swatch teamed up with Wirecard to launch SwatchPAY! in Switzerland.