Wirecard cooperates with Swatch to launch SwatchPAY!

Source: Wirecard

Wirecard, the global innovation leader for digital financial technology, has signed a cooperation agreement with the leading watch manufacturer Swatch.

In the future, consumers will be able to install fully digital, contactless payment solutions as an app in Switzerland and later throughout Europe and use them via their watches. This means that all SwatchPAY! customers will benefit from simple and secure mobile payments with boon at the point of sale.

boon by Wirecard is the industry's first mobile payment solution that works completely independently of banks and network operators. From 1st February 2019, users in Switzerland will be able to add their digital boon cards to SwatchPAY! and pay with their Blackback, Pastel, Chic & Magic Watches wherever Mastercard contactless is accepted.

“Constant innovation is a central part of Swatch's DNA”, said Carlo Giordanetti, Creative Director of Swatch. “Thanks to the latest innovation, tokenization has never been so quick and simple. It has never been more convenient to pay anytime, anywhere using the Swatch on your wrist: carry out the tokenization, hold the watch to the payment terminal, done! SwatchPAY! is simple, stylish and typical Swatch!”

Georg von Waldenfels, Executive Vice President Consumer Solutions at Wirecard, said, “We are proud to announce our cooperation with Swatch. This brings a whole new lifestyle aspect to the market for mobile payments, which is currently experiencing strong growth worldwide. The benefits for consumers of being able to pay with their watch and boon mean a new level of freedom in everyday life. Our customers can now use their digital boon cards with their favorite Swatch watches - without having to take their wallet or smartphone with them.”

boon by Wirecard is easy to set up on SwatchPAY! watches by going to one of the participating Swatch Stores, downloading the SwatchPAY! App and adding the digital boon card to the SwatchPAY! wallet. To pay, the user simply holds the watch in front of the payment terminal. With the SwatchPAY! App, several watches can be managed simultaneously.

SwatchPAY! and boon are equipped with numerous security functions. Industry standard security features ensure that a user's card information is never disclosed to merchants or Swatch itself.
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