Belgium's KBC is rolling out wearable payments tech to all clients following successful tests with 1000 customers.
The year-long tests followed 1000 customers as they made payments using rings, bracelets, watches and keyrings linked to their debit card. Technology for the trials was provided by BPC (BancontactPayconiqCompany), Digiseq, equensWorldline, Fidesmo, Mastercard and Thales.
Karin Van Hoecke, general manager for digital transformation, KBC Belgium says the user response was so positive that the bank decided to open up payments by wearable to all KBC customers as of the second half of 2020, says
"We regularly questioned the 1000 customers who took part in the pilot about their experiences, so that we could make minor adjustments," she adds. "What we learned from this was that the wearable you use to make payments needs to match your personal style. That led us to broaden the offering, so that there are wearables for everyone’s style and budget."
The bank has lined up partnerships with seven suppliers of wearable payments technology for the full commercial roll out. KBC has set up an online gateway to supplier sites, where customers can buy the wearable which best fits their needs. The tech is activated upon delivery via the bank's mobile app.
According to pilot participants, rings, smartwatches (Fitbit, Garmin) and keyrings were rated as the most convenient wearables. 34% of users preferred the ring, 21% the smartwatch and 18% the keyring.
Two out of three pilot users said they would certainly or probably consider buying a wearable in the future.