Sports accessory brand Garmin has joined hands with VISA and MasterCard for enabling NFC (Near Field Communication) payments on its product Vivoactive 3 smartwatch.
Reportedly, the payments will be processed via Gramin Pay, an NFC based product with the assistance of tokenisation services of Visa and MasterCard.
Users will have to enter their card details in the Garmin mobile app by scanning their card or manually entering the information.
Post the validation of the card details the app has to be synced with the smart watch and the card will finally be available for making payments.Garmin’s move comes in wake of its competitor Fitbit’s venture with Mastercard. Fitbit has recently launched its Ionic device that promotes NFC payments as well.As per the latest developments, both VISA and MasterCard are pitching for payments on Internet of Things (IoT) devices via NFC.
While MasterCard has a programme named Commerce For Every Device launched in 2015, Visa runs a programme called Visa ready.
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