Swatch, Wirecard Collaborate on Contactless Payments
January 18, 2019 at 05:28 pm
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Swatch has partnered with Wirecard to launch its payment service SwatchPAY! in Switzerland. The move enables users of Wirecard’s mobile payment app boon to access SwatchPAY!. Users in Switzerland can add their digital boon cards to SwatchPAY! from next month and make payments anywhere Mastercard contactless is accepted. The payment service will be supported by four Swatch watch models, namely Blackback, Pastel, Chic and Magic.To use the service, users have to download the SwatchPAY! App and add the digital boon card to the SwatchPAY! wallet. They can make payments by holding the watch in front of the payment terminal. SwatchPAY! and boon does not reveal card data to merchants or Swatch, thereby addressing security concerns.
The Swatch Group SA is a Switzerland-based holding company engaged in the apparel and accessories industry. The Companyâs activities are divided into two core business segments: Watches and Jewelry, as well as Electronic Systems. The Watches and Jewelry segment includes the production and sale of branded watches, jewelry and quartz movements, notably the brands Breguet, Harry Winston, Blancpain, Glashuette Original, Jaquet Droz, Leon Hatot, Omega, Longines, Rado, Union Glashuette, Tissot, Balmain, Certina, Hamilton, Calvin Klein watches and jewelry, Swatch and Flik Flak. The Electronic Systems segment includes the production and marketing of electronic components, notably batteries and sports timing equipment. The Company also supplies products from these segments to third-party watchmakers. Swatch Group SA is represented worldwide through its subsidiaries and distributors, notably Tourbillion and Hour Passion, and operates Swiss production plants in Boncourt, Grenchen and Villeret.
SWATCH GROUP 
