Visa Makes Headway in Wearables Market

Visa confirmed to MHW today that it is enabling Visa payments on Fitbit’s first smartwatch – Fitbit Ionic.

We’re told that eligible cardholders of participating banks will be able to make payments with Fitbit Pay, Fitbit’s new payment function, when available.

So how does it work?

With Fitbit Pay, Visa and Fitbit are meeting demand amongst the majority of wearable owners who, according to the recent “How We Will Pay” survey* by PYMNTS and Visa, see the opportunity for wearables to improve the way they pay throughout their day with a more secure and seamless cashless payment experience.

Not surprisingly, the continuous rise in mobile connectivity has led to the proliferation of digital payments. And Visa is now in position to make the most of the opportunity at hand.

“Visa continues to focus on delivering the tools and technologies that empower our partners to offer safe, secure and convenient payments to consumers via connected devices,” said Jim McCarthy, executive vice president of innovation and strategic partnerships at Visa Inc. “Partnering with Fitbit on its new Fitbit Pay service is another step forward in the growth of Internet of Things and shows how Visa is enabling companies across the technology industry to help us all move towards a cashless future.”

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