Visa makes wearable payments inroads

Visa makes wearable payments inroads

With research suggesting that wearable payments' moment may finally be arriving, Visa has struck deals with National Bank of Greece and CaixaBank to enable customers to carry out transactions through their jewellery and watches.

National Bank of Greece and Visa have enlisted Folli Follie and Links of London to create rings and bracelets that will let people make secure payments with a tap at any contactless-enabled terminal.

Mike Lemberger, head, product and solutions, Visa in Europe, says: "As the global payment landscape continues to evolve from plastic to digital, Visa continues to innovate and work with partners like the National Bank of Greece and jewellery brands Folli Follie and Links of London to develop a solution that will bring consumers a simple and secure purchasing experience.

Meanwhile, the card giant has also teamed up with Spain's CaixaBank to let Garmin watch owners make contactless payments with their devices from later this year.

The deals - both announced at Mobile World Congress in Barcelona this week - come as research from Visa rival Mastercard suggests that one-quarter of Europeans expect to start using tap-and-go payments with a smartwatch, bracelet, keyring or other wearables.

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