Fibank launches Fitbit wearables payment option

Monday 19 April 2021 13:24 CET | News

The Bulgaria-based First Investment Bank (Fibank) has announced the introduction of a payment option linking Fibank-issued Visa cards to Fitbit portable devices for payments at POS terminals.

This project resulted from a partnership between Fibank, Fitbit, and Visa. Fitbit Pay is currently available on Fitbit Sense, Fitbit Versa Family of Smartwatches, Fitbit Ionic, Fitbit Charge 4, and Fitbit Charge 3 Special Edition. On the Android or iOS Fitbit app, users can simply add their Fibank-issued Visa cards to their Fitbit wallet.

To make payments, customers press and hold the left side button until their Fibank card can be seen on the device's screen. Users must then hold the device near a payment terminal until a payment confirmation appears. During device setup, a PIN is chosen by the user for added security. Visa's tokenization technology makes e- and m-commerce payments secure by replacing user accounts with a unique digital identifier or ‘token’ used specifically for each device, meaning account and card details are never shared. According to a Visa representative, the company aims to unlock the potential of wearables and offer more payment convenience through this partnership.

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Keywords: product launch, partnership, IOT, mobile payments, contactless payments
Categories: Payments & Commerce
Countries: Bulgaria
This article is part of category

Payments & Commerce