Altair Financial Services, a U.K. prepaid card provider, has launched a wrist watch featuring MasterCard’s PayPass contactless payments technology. The vendor teamed with RFID specialist CardPOS Europe, smart card maker ID Data and watch maker Laks to create the watch.
The watches, which enable users to make low value payments by tapping them against PayPass readers, include a feature for easy to use customer SIM card insertion and withdrawal.
The wrist watch format for contactless payment devices has been experimented with in several countries. Last year Turkey’s Garanti Bank issued limited edition PayPass watches to holders of its contactless credit cards, while Taiwan’s Chinatrust Commercial Bank offered a soccer-themed watch with PayPass technology to commemorate the 2006 World Cup. Way back in 2002, U.S. company Speedpass partnered Timex to offer consumers a wristwatch which could be used for payments at Exxon-Mobil gas stations and McDonalds.