Fashion brands looking to include payments capabilities in their wearable devices need solutions that are pre-certified, inexpensive, easy to implement and offer the wearer the ability to quickly and easily add their choice of payment, transit, loyalty and identity cards throughout the lifetime of their watch or fashion accessory, wearables platform provider Fidesmo explains in a new white paper which is now available to download free of charge from the NFC World Knowledge Centre.
“Fashion brands rarely have a squad of software designers or payment experts to build their own payment solution, not to mention the investment requirements, complexity, and time consumption involved in such a project,” Fidesmo explains.
“Easy-to-use and lightweight solutions within the tokenized platform sphere are what is needed here. Innovative companies like Fidesmo can create an out-of-the-box solution that enables the digitisation of payment cards and other contactless services onto wearable devices, making it easy for hardware designers, banks and consumers to take advantage of the latest in payments innovation.”
“Fidesmo’s vision is that consumers should be able to pay with and have all their tickets, keys and loyalty cards on the device of their choice, whether it is a card, a smart watch, a ring or a bracelet.
“Our platform is brand agnostic and offers a simple way for device manufacturers to build smartness into their products that connects to existing infrastructure. We are what Apple Pay is for iPhone but for all other devices and for all types of services, payments, public transit ticketing, access etc. Our software solution is embedded in and distributed through chips, produced by third parties, and installed or fitted by the device manufacturer.”
“Enabling the Future of Wearables: Making Payments a Seamless Experience” explains the limitations of current approaches, the difficulties fashion brands face when seeking to add payments capabilities to wearable devices and sets out how fashion brands can include leading-edge contactless service capabilities in their devices — without the need to have in-house technical expertise or go through expensive compliance and lengthy certification processes.
The full nine-page white paper is available for readers to download free of charge from the NFC World Knowledge Centre.
• This white paper is part of What’s New in Payments, our special report which explores and explains the latest payment trends and technologies. You can download the entire series here.