MasterCard, Coin Partnering on Payments via Wearable Devices
MasterCard said it’s partnering with Coin to make credit card payments available on smart watches, fitness bands and other wearable devices. Coin will provide hardware and software tech integrated with MasterCard’s Digital Enablement Service that will allow wearable device manufacturers…
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to implement payment functionality in their devices, MasterCard said Wednesday. Adding payment functionality to wearable devices “makes the products more useful for consumers and enhances the value device manufacturers can deliver to their customers,” MasterCard Senior Vice President-Digital Payments Sherri Hammond said in a news release. Coin’s Payment of Things platform “is a turnkey solution to enable payments for the wearable/IoT industry,” Coin CEO Kanishk Parashar said in the MasterCard news release. “Leveraging Coin’s technology, device manufacturers will benefit from significantly reduced costs and time to market.”