29 May 2017
Book a meeting today

MasterCard partners Coin for wearable payments onslaught

06 January 2016  |  9203 views  |  0 MasterCard wearable

MasterCard is looking to bring payments to a wide array of fitness bands, smart watches and other wearable devices through a partnership with consumer electronics and financial software startup Coin.

Atlas Wearables, which designs advanced fitness trackers, Moov, a personal fitness coach on your wrist, and Omate, maker of fashionable smartwatches, are the first set of companies working with MasterCard and Coin to implement payment technology in their products.

The move follows MasterCard's announcement in October of an extension of its Digital Enablement Service (MDES) to turn any consumer gadget, accessory or wearable into a tokenised payment device.



“We are adding payment functionality to items that consumers are already using - fitness bands, jewellery, clothing, watches,” says Sherri Haymond, SVP, digital payments, MasterCard. “This makes the products more useful for consumers and enhances the value device manufacturers can deliver to their customers. Coin complements that approach and enables us to reach an expanded set of device partners.”

Coin will provide hardware and software technology that is integrated with MDES, providing a simple, financially compliant backend integration layer for manufacturers to quickly embed payment functionality into their consumer products.

Peter Li, co-founder & CEO, Atlas Wearables, says: "Purchases enabled on Atlas devices are useful whether someone is taking a jog outside or lifting weights at the health club. The simple integration offered by MasterCard and Coin means we can put payments on our roadmap without any distractions to our business. Everyone wins."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

MasterCard and Samsung unveil pay-by-fridge

MasterCard and Samsung unveil pay-by-fridge

05 January 2016  |  14608 views  |  6 comments | 33 tweets | 42 linkedin
Electronic tattoos pitched for payments and fitness tracking

Electronic tattoos pitched for payments and fitness tracking

02 December 2015  |  8614 views  |  0 comments | 28 tweets | 32 linkedin
TopShop launches contactless fashion accessories

TopShop launches contactless fashion accessories

11 November 2015  |  9059 views  |  0 comments | 21 tweets | 21 linkedin
Millennials embrace wearable banking - poll

Millennials embrace wearable banking - poll

21 October 2015  |  9308 views  |  8 comments | 32 tweets | 21 linkedin
Contactless payment ring launches on Kickstarter

Contactless payment ring launches on Kickstarter

25 September 2015  |  19757 views  |  7 comments | 48 tweets | 42 linkedin
Visa peers into the future of wearable payments with graduate design scheme

Visa peers into the future of wearable payments with graduate design scheme

24 September 2015  |  7663 views  |  0 comments | 14 tweets | 11 linkedin
Samsung to showcase NFC 'Smart Suit'

Samsung to showcase NFC 'Smart Suit'

04 September 2015  |  11415 views  |  0 comments | 23 tweets | 19 linkedin
TD, MasterCard and Nymi pilot heartbeat-authenticated contactless payments

TD, MasterCard and Nymi pilot heartbeat-authenticated contactless payments

11 August 2015  |  11367 views  |  0 comments | 27 tweets | 33 linkedin
Visa to showcase cashless trend on the catwalk

Visa to showcase cashless trend on the catwalk

09 July 2015  |  9971 views  |  0 comments | 18 tweets | 10 linkedin
Barclays takes on Apple with wearable payments

Barclays takes on Apple with wearable payments

29 June 2015  |  16569 views  |  1 comments | 39 tweets | 35 linkedin
US startup crowdfunds contactless bracelet

US startup crowdfunds contactless bracelet

12 June 2015  |  6320 views  |  0 comments | 14 tweets | 2 linkedin
AmEx and Jawbone team on fitness band payments

AmEx and Jawbone team on fitness band payments

15 April 2015  |  5034 views  |  0 comments | 8 tweets | 4 linkedin
Barclaycard to trial contactless gloves

Barclaycard to trial contactless gloves

16 December 2014  |  14430 views  |  3 comments | 30 tweets | 21 linkedin
Nationwide joins the wearable finance movement

Nationwide joins the wearable finance movement

05 November 2014  |  12769 views  |  0 comments | 15 tweets | 13 linkedin
CaixaBank to distribute contactless wristbands through branch network

CaixaBank to distribute contactless wristbands through branch network

09 October 2014  |  11843 views  |  0 comments | 11 tweets | 13 linkedin
CaixaBank to roll out contactless wristbands

CaixaBank to roll out contactless wristbands

03 July 2014  |  14481 views  |  2 comments | 27 tweets | 24 linkedin
Alfa Bank uses wearable tech to make customers sweat for their money

Alfa Bank uses wearable tech to make customers sweat for their money

30 May 2014  |  13734 views  |  0 comments | 27 tweets | 15 linkedin
Pay-by-sleeve: Heritage Bank unveils contactless payments suit

Pay-by-sleeve: Heritage Bank unveils contactless payments suit

17 April 2014  |  13456 views  |  0 comments | 18 tweets | 17 linkedin
PayPal says the time is right for wearable payments

PayPal says the time is right for wearable payments

24 February 2014  |  9230 views  |  0 comments | 24 tweets | 21 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.ebaday.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
14809 views comments | 54 tweets | 82 linkedin
Bank/fintech collaboration can take transaction banking to new heightsBank/fintech collaboration can take transa...
8293 views comments | 12 tweets | 24 linkedin
R3 raises $107mR3 raises $107m
7834 views comments | 17 tweets | 16 linkedin
TransferWise launches multi-currency business bank accountsTransferWise launches multi-currency busin...
7644 views comments | 13 tweets | 22 linkedin
Digital payments to drive social justiceDigital payments to drive social justice
7640 views comments | 24 tweets | 12 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job