Swedish Bank Partners With Fidesmo On Wearable Payments
"The goal is to enable customers to pay for things by simply tapping a bracelet, key ring or other wearable device on an NFC payment terminal." Fidesmo, a Sweden-based developer of contactless transaction technologies, has entered into a new partnership with Länsförsäkringar Bank that focuses on portable payments. The collaboration revolves around Fidesmo Pay, Fidesmo's portable payment platform, which allows Länsförsäkringar Bank to tokenize payment cards in the form of portable devices that can then be used by Länsförsäkringar customers for contactless payments. The goal is to enable customers to pay for things by simply tapping a bracelet, key ring, or other wearable device on an NFC payment terminal. It is an approach to payments that could find market access in the years to come. Consumer survey data collected by Juniper Research found that nearly half of consumers in the US, UK and Australia would be willing to use a portable device to make a payment, and 94 per