By integrating the Fit Pay platform with the MasterCard Digital Enablement Service (MDES), the companies will work with Wearatec and other innovative manufacturers to bring to Mastercard cardholders a variety of contactless payments-enabled devices.
The Fit Pay platform reduces the time-to-market, cost and complexity of payment and authentication services for wearable device manufacturers. The Fit Pay partnership with Mastercard highlights the growing ecosystem of technology integrators that have joined the Mastercard Commerce for Every Device program. Mastercard has developed partnerships with companies across multiple categories to enable simple and secure payment transactions to fit every consumer lifestyle, enabling them to use the device that is most convenient to them.
Wearatec produces connected watch clasps to enable smart device capabilities for luxury watches. With Mastercard and Fit Pay, Wearatec will work with its partners, including leather goods designer Jean Rousseau, to bring secure payments to a wide array of men’s and women’s timepieces.
Based on its current relationships with Wearatec and other device manufacturers, Fit Pay expects to payments-enable more than 2.5 million wearable devices in 2017, with the number rising to more than 9 million in 2018.
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