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Payments of Wearables now made easier

MasterCard and Coin Sign Agreement to Power Wearable Payments

Payment of wearable devices will now be a lot easier as MasterCard announces its partnership with Coin.  This will enable consumers to pay a wide array of fitness bands, smart watches and other wearable devices.

Atlas, Moov, and Omate are just some of the devices that allow MasterCard Payments on their fitness bands and smart watches.    Atlas Wearables designs advance fitness trackers while Moov is a personal fitness coach on your wrist and Omate is known for their fashionable smart watches.

“The great thing about the MasterCard program is that we are adding payment functionality to items that consumers are already using – fitness bands, jewelry, clothing, watches,” said Sherri Haymond, Senior Vice President, Digital Payments, MasterCard. “This makes the products more useful for consumers and enhances the value device manufacturers can deliver to their customers. Coin complements that approach and enables us to reach an expanded set of device partners.” 

Coin will provide hardware and software technology that is integrated with the MasterCard Digital Enablement Service (MDES) and can be embedded into devices to enable manufacturers to quickly and easily implement payment functionality into their consumer products. Leveraging the MasterCard Digital Enablement Express (Express) program, the addition of Coin’s technology simplifies commercialization and enables participating issuers to expand to a whole new category of devices. 

“Coin’s Payment of Things platform is a turnkey solution to enable payments for the wearable/IoT industry. Leveraging Coin’s technology, device manufacturers will benefit from significantly reduced costs and time to market,” said Kanishk Parashar, CEO and Co-Founder of Coin. “MasterCard is our essential partner as we team up to enable the wearable domain that is projected to grow to an astounding $53 billion by 2019.” 

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1 comment:

  1. The technology has been moving so fast that we are able to see every part of this technology. I am really interested to use that technology for the things that we are having in routine.