People everywhere wear their square Apple watches or their round Google watches with pride, sending text messages, checking emails, and waiving their wrists at payment terminals as they shop or dine out. Recently new technology is emerging. It’s allowing those of us who appreciate more style in a watch to be able to take advantage of contactless watch payment capabilities without having another screen attached to our arms.
Sony has had a fairly expensive wristband option available for a while now that allows people to keep a traditional time piece and the style they enjoy while bringing the smart technology through the band rather than through the watch itself.
Now a Swiss company called Winwatch is the first to seal an EMV payment chip and antenna inside a sapphire watch crystal. The new technology, called STISS (Swiss Technology Inside Smart Sapphire) is extremely durable. Sapphire crystals are nearly as strong as a diamond, but much less expensive. Winwatch sells a contactless payment-enabled watch online for $306 helping mobile watch payments get a style upgrade without a huge investment.
Most interesting is that Winwatch will also license its STISS technology to other watch manufacturers so they can create their own contactless payment wearables and retrofit existing watch models. MuchBetter, a Financial Authority from the U.K., provides the iOS or Android mobile wallet app that supports contactless payments for the Winwatch currently. They compete in the sector with other providers like PayPal, and are one of the biggest players for mobile wallets in Europe.
We’re excited to see the evolution of STISS technology, as well as what other mobile wallet providers, watch makers, and card holding customers jump on this bandwagon. To read more, stop by Winwatch’s website or visit us again later as we monitor their progress!