Pre-paid contactless wristwatch launched

Pre-paid contactless wristwatch launched

MasterCard has teamed up with manufacturer Laks and issuer Vincento to launch a wristwatch featuring PayPass contactless payments technology.

Wearers will be able to make payments of up to £15 by tapping their Watch2pay piece against PayPass readers in more than 70,000 UK shops to make purchases.

The wristwatchs are being sold online and come with a reloadable MasterCard pre-paid card that is valid for up to two years.

Lucas Scheybal, CEO, Laks, says: "As watches are incredibly popular as well as personal to each individual, they are ideal for this Tap & Go technology. We are thoroughly excited to be bringing this unique design to the UK market, especially with the support of MasterCard."

Despite some claims to the contrary, the Laks watch is not the UK's first MasterCard pre-paid contactless effort, coming two years after Altair Financial Services launched its effort.

Meanwhile, Turkey's Garanti Bank partnered MasterCard to issue limited edition PayPass watches to holders of its contactless credit cards in 2007, while in 2006 Taiwan's Chinatrust Commercial Bank launched a football-themed wrist watch featuring PayPass technology ahead of the Fifa World Cup in Germany.

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