Fidesmo expands into Belgian market with Bancontact & KBC partnership

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Swedish payment technology company, Fidesmo’s wearable payment service Fidesmo Pay has entered the Belgian market through collaborations with Bancontact and KBC Brussels. The company claims that the partnership makes KBC the first Belgian bank to add Fidesmo Pay to their offering. The partnership will also enable Bancontact issuers to offer the wearable payment service to their customers.

“We are very happy to launch in Belgium together with Bancontact and with KBC as the first customer. All wearables that connect with Fidesmo are compatible, and our solution features a complete co-badged solution where both a Bancontact and Maestro token is present on the device at the same time,” said Mattias Eld, CEO and co-founder Fidesmo.

Fidesmo Pay will allow customers to connect their payment cards to a wearable of their choice in a bid to make secure contactless payments. The company stated that wearables used with Fidesmo Pay are provided by several European fashion brands and can be bought either online or in-store. Launched in 2013, Fidesmo allows for connection to contactless services, such as payment, public transport tickets, office/hotel and car keys, to both passive and active devices.

“Today, wearables are no longer gadgets or temporary fashion items but practical, new payment methods with which you can pay contactless. Bancontact Payconiq Company is permanently innovating and is delighted that contactless payment with Bancontact via a smart bracelet, watch, ring or keychain is becoming a reality. A first for the customers of KBC, CBC and KBC Brussels today, in collaboration with Fidesmo,” said Nathalie Vandepeute, CEO Bancontact.

“As an innovative bank-insurance company in Belgium and frontrunner in contactless payments, the partnership with Fidesmo and Bancontact makes it possible to offer a dual-branded solution to our customers. They are able to pay now with a wearable everywhere they can pay contactless with their debit card,” said Ivo De Meersman, General Manager Payments & Cards KBC Belgium.