ABN Amro launches wearables for contactless payments

Thursday 17 January 2019 11:40 CET | News

ABN Amro has launched a wearables program that lets customers make contactless payments on Garmin smart watches, Fitbit trackers, and other devices.

The program uses wearables for higher dollar purchases at the point of sale and a PIN code. The wearables will require a PIN code for purchases between EUR 25/USD 28.47 going up to EUR 250/USD 284.70.

According to Mobile Payments Today, the bank said that 80% of the participants in a pilot program preferred using the wearables to traditional bank card payments. The bank tested the use of wearables with 500 clients over a 12-month period with Mastercard and DigiSEq.

Moreover, the bank will feature a website where customers can buy the wearables, which include a Mastercard-certified payment chip. The payments program will work with retail clients of the bank, not business clients.

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Keywords: ABN AMRO, wearables, contactless payments, Garmin, Fitbit, bank, mobile payments, MasterCard
Countries: World