Swatch PAY! Is coming to Switzerland
CONTACTLESS PAYMENT MADE EASIER THAN EVER
A payment card on your wrist. SwatchPAY! makes contactless payment as simple and secure as can be – you’ll never have to reach into your pocket or bag for your wallet or phone again. Following its successful launch in China in the summer of 2017, the credit card watch is now available in Switzerland as well.
SwatchPAY! uses an NFC radio chip hidden underneath the watch dial. Customers simply place their wrist with the watch next to the contactless payment terminal at the checkout counter. The terminal reader then exchanges payment information with the chip, and that’s all there is to it! The payment terminal supplies the energy needed for this process, which means that unlike any smartphone, the SwatchPAY! Watch doesn’t require batteries to make payments. Like all other Swatch models, the SwatchPAY! Watch is water-resistant to a depth of 30 meters, which makes it more flexible and durable than other payment methods.
“Continuous innovation is a key strand of the Swatch DNA,” said Carlo Giordanetti, Swatch Creative Director. “This latest advance, with the introduction of the fastest and simplest tokenization, makes it easier than ever to pay “forever” – token up your Swatch, swipe it and you’re done. SwatchPAY! is simple, stylish and swatchy.”
More than 75% of all electronic point of sale systems in Switzerland currently support the payment method, and all the major domestic banks in Switzerland are participating in the SwatchPAY! system. Customers, on the other hand, all they need is to choose a watch, have an eligible payment card and set-up SwatchPAY! through the official app, in a Swatch store. The system activation creates a link between the watch and the payment card via a Bluetooth-NFC device (SwatchPAY! Box) with the help of the app on the customer’s smartphone. As soon as this process is completed, the consumer can pay for goods and services at any contactless point-of sale terminal. Four different Swatch models are now set to revolutionize contactless payments in Switzerland by making the payment process easier, more convenient, and cooler than ever before.
SwatchPAY! partners: Giesecke+Devrient, Mastercard
Partner banks: Cembra Money Bank, Cornèrcard, Credit Suisse, Swiss Bankers, Swisscard, UBS, Viseca