Wirecard and Mastercard Expand Strategic Cooperation to Promote Contactless Payments Via WearablesWirecard and Mastercard Expand Strategic Cooperation to Promote Contactless Payments Via Wearables

By STS News Desk On Jul 17, 2018

The partners are cooperating among others with Garmin Pay and are strengthening the current mobile payment trend in Germany
boon, the fully digitized mobile payment app from Wirecard, allows all users to make mobile payments independently of their bank
Wirecard and Mastercard are planning further joint projects in the field of mobile payments via wearables

Wirecard, the global innovation leader for digital financial technology, and Mastercard, the international technology company for payment transactions, have today announced that they are to expand their existing strategic cooperation with the aim of making digital, contactless payments via wearables accessible to ever more consumers. As a result, boon from Wirecard will be available in Germany via Garmin Pay as of today. Further future cooperation projects are planned, which will make mobile payment with the own smartwatch available for more and more users.

Garmin Pay customers can now benefit from smartwatch-based payments with boon in Germany and six further European countries independent of their bank, as they are owners of a digital boon Mastercard. boon is the quickest growing mobile payment solution in Europe and since 2015 the industry’s first fully digitized mobile payment solution to operate independently of banks. Currently, Garmin Pay functions with the GPS multisport smartwatches vívoactive 3 and vívoactive 3 Music, the GPS fitness watches Forerunner 645 and Forerunner 645 Music in addition to the fēnix 5 Plus series.

Arne Pache, Vice President Digital Payments & Labs at Mastercard, says: “The point of sale (POS) is being more strongly affected by evolving innovations than ever before. Customers expect sleek payment processes without delays at the till. As visionary companies, Mastercard and Wirecard recognize this trend. We have joined forces in order to actively shape the future of contactless, digital payments and are delighted to today announce our expanded collaboration with Garmin Pay.”

Georg von Waldenfels, Executive Vice President Consumer Solutions at Wirecard, adds: “Over the next five to ten years, payment processes at the POS will undergo a digital revolution. As leaders of innovation for digital financial technology, we are excited about the expansion of our strategic cooperation with Mastercard and today’s launch with Garmin Pay in Germany. boon users can now utilize their digital boon Mastercards on their favorite smart devices on the move, for example while out jogging or doing any other kind of exercise – it has never been so easy to make payments while maintaining your fitness regimes at the same time. Our intention is to offer these added values to as many consumers as possible.”