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ABN Amro introduces wearable payments

ABN Amro introduces wearable payments

Following a successful trial, ABN Amro is offering all of its Dutch customers the chance to link their accounts to a host of wearable contactless payments devices.

Customers can buy Garmin, Mondaine and Olympic watches, as well as keyrings and bracelets from Laks and rings from K-ring that have Mastercard-certified payment chips.

Once activated via online banking, the devices can be linked to ABN Amro accounts and used to make contactless payments. For purchases of over EUR25, customers must enter a PIN and there is a EUR250 a day limit on the devices.

ABN Amro began piloting the devices with 500 people a year ago and says that feedback has been overwhelmingly positive, with 80% of test users preferring wearables to a regular bank card.

ABN Amro's Yvonne Duits says: "The 500 clients involved thought very highly of this payment method, reporting how good it was not always to have to bring their debit cards when going out or taking part in sports."

Comments: (1)

David Gyori
David Gyori - BANKING REPORTS, LONDON - London 16 January, 2019, 12:36Be the first to give this comment the thumbs up 0 likes

Can you please show a picture of the specific WEARABLE devices?