New partnership brings contactless payment options to luxury watches

You’ll soon be able to continue spending money on luxury brand watches and wearables long after initial purchase, with MasterCard and WISeKey announcing a partnership to enable contactless payments on the items.

The announcement came at the Mobile World Congress, currently being held in Barcelona, in a move that the companies are saying promises to provide more options for consumers to shop securely with connected fashionable accessories.

WISeKey CEO Carlos Moreira said the partnership had great potential to establish loyal customers and increase repeat business, while at the same time offering convenience and further benefits to consumers.

“Working together, WISeKey and MasterCard will open the door to additional eCommerce and marketing opportunities for luxury wearable devices and watch manufacturers. The potential for improved communication with customers can also lead to increased customer loyalty and repeat business,” says Moreira.

The partnership will see MasterCard integrate its payments technology with WISeKey’s security solutions, allowing consumers to make secure payments with select brands of luxury watches and wearables.

MasterCard senior vice president of digital payments, Sherri Haymond  labelled the partnership as a great marriage of the two company’s technology offerings, skill sets, and expertise.

“Our collaboration with WISeKey is a great example of how payments functionality can deliver transformative value for a variety of device manufacturers and create safe and convenient shopping experiences for their consumers,” she says.

“Together with WISeKey, we are using our collective innovative technology and expertise to transform the way people pay for things,” says Haymond.

WISeKey currently works with a number of premium watch manufacturers, including Hublot and Bulgari, and the new partnership adds  luxury wearables to an ongoing initiative by MasterCard to bring payment technology to a wide range of consumer gadgets, wearables and accessories – spanning across an array of items, from fitness bands to refrigerators.

The Mobile World Congress runs from 22-25 February.

BY Tate Papworth ON 25 February 2016