NFC TIMES Exclusive Insight – Small Swedish analog watchmaker TRIWA next week plans to launch payments wearables enabled for tokenized Mastercard-branded cards issued by Swedish banking group SEB, with provisioning company Fidesmo telling NFC Times there will be more watch brands to come enabling payments.
The TRIWA passive wearables will be enabled with the tokenized payments cards after the sale to consumers, just like the recent launch of SwatchPAY! in Switzerland, which enables low-cost analog watches to be loaded with cards at Swatch stores or counters. These types of passive payments wearables could one day compete with high-end payments wearables from Apple, Samsung, Fitbit and Garmin for payments.
The TRIWA project with Fidesmo received funding from Sweden's innovation authority Vinnova of SEK 2 million (US$241,000) to develop watch straps with built-in payment technology.