Mastercard has announced a partnership with wearable payments platform provider Fit Pay to bring contactless payments to wearables and internet of things devices. The payments giant says the companies will integrate the Fit Pay platform with the MasterCard Digital Enablement Service, and work with Wearatec and other device manufacturers to develop a “variety of secure contactless payments-enabled devices”. More than 2.5m devices are expected to be enabled for payments in 2017, Fit Pay says, with the number rising to more than 9m in 2018.
- Revolut lets customers pre-authenticate their contactless card as they approach the SCA transaction limit
- Accenture issues $280bn payments revenue warning to banks
- Monzo to use app notifications to address Strong Customer Authentication communications issues
- Apple expands 3% cashback network for Apple Card holders to Walgreens and Duane Reede stores
- PepsiCo unveils customer loyalty programme that delivers cashback rewards to PayPal and Venmo accounts