Stockholm-based Fidesmo has partnered with Kempele-based world leader Polar Electro to integrate its secure contactless payment technology into Polar’s sports watch wristbands. The new Polar Payment Wristbands, featuring Fidesmo’s NFC chip, allow users to connect their payment cards via the Fidesmo Pay app and make secure transactions at any contactless terminal. This collaboration leverages Fidesmo’s expertise in secure hardware transactions, offering Polar’s active audience a seamless and convenient payment solution. The wristbands, compatible with various Polar watch models, exemplify the joint commitment of both companies to innovation and enhancing user experience.
Fidesmo, founded in 2013, specializes in secure element-based hardware for contactless services. The company provides a platform that enables devices to perform functions such as contactless payments, public transport ticketing, and access control. By partnering with financial institutions, public transport operators, and access control companies, Fidesmo integrates its technology into various devices, including watches, wristbands, key fobs, and smartphones, ensuring secure and seamless interactions protected by advanced encryption technologies.
The new Polar Payment Wristbands are fitted with an NFC chip that links payment cards and Fidesmo Pay, a robust and safe contactless payment service. With the Fidesmo Pay app, users can connect their payment card to the wearable. As soon as the payment function is activated on the Fidesmo Pay app, users can pay for goods and services at any contactless terminal in-store.
The solution is highly secure since the wristband only stores a token representing the user’s payment card, eliminating the need to transmit the actual card number during transactions.
Fidesmo’s solution enables advanced secure hardware transactions, similar to Apple Pay and Samsung Pay.
“This innovative approach makes contactless payment with Polar watches as simple and secure as can be, and elevates the appeal of our products instantly,” said Tarja Määttä, Business Director, Devices and Consumer Channels at Polar. “Since the chip is embedded within the wristband, this solution is compatible with most Polar watches. This includes not only the latest and most advanced models such as the Polar Vantage V3 and the new Polar Grit X2 Pro, but also beloved classics like the Ignite series and entry-level watches like Polar Unite.”
Like other Polar wristbands, the new Polar Payment Wristbands are designed specifically for sports, crafted from soft, yet durable, sweat-resistant silicone to ensure a comfortable and secure fit.
“Integrating Fidesmo’s cutting edge, secure and flexible solution into Polar’s trusted line of sports watches represents the joint compatibility and vision of both brands,” said Anders Malmström, CEO of Fidesmo. “We are proud to bring Fidesmo Pay’s convenience and security to Polar’s active audience, making everyday transactions seamless and more integrated into our users’ lifestyles, not to mention the possibility of bringing more services to Polar. This partnership is a testament to our shared commitment to innovation, quality, and enhancing the user experience.”
Fidesmo Pay is available in over 40 European countries and works with any terminal that supports contactless payments worldwide.
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