This week has seen Visa announce that it is enabling Visa payments on Fitbit’s first ever smartwatch, the Fitbit Ionic. This follows a survey by PYMTS and Visa call “How We Will Pay” that found the majority of users want their wearables allow them to make everyday purchases in a quick, seamless and safe way.
The study by Visa and PYMTS questioned 2600 adults in the United States of America between April and May 2017 and found a number of key findings.
Takeaways from the study included:
- Consumers who own wearables, buty more: The study showed that across product categories, those people who wore wearables tended to buy more in general.
- Everyone prefers to go cashless: Both those who like to wear wearables and those who don’t prefer not to carry money and pay digitally.
- Wearables improve productivity: It was found that over 85% of people said that wearables helped them to save time and improve efficiency. The introduction of the seamless payments enabled by Visa on the new Fitbit Ionic is an example of this.
The rise in mobile connectivity has led to the proliferation of digital payments which is why we are now seeing such partnerships between Visa and Fitbit. To make Visa purchases using the Fitbit Ionic device, users simply load an eligible Visa credit or debit card on the Fitbit Companion app and hold the smartwatch near an NFC-enabled terminal for a simple and secure way to make purchases on the go.
Jim McCarthy, executive vice president of innovation and strategic partnerships at Visa Inc said:
“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. 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.”
Jon Oakes, VP of Product Management at Fitbit commented:
“We are proud to partner with Visa and offer the ability to pay on the go with Fitbit Pay on Fitbit Ionic, offering more convenience for our users to help them reach their health and fitness goals. Whether grabbing a smoothie post-run or paying for a coffee while counting steps on a city tour, we are delighted to give users the option to leave their wallet at home and simply pay with their device. We are happy to be working with Visa to give our customers what they want.”
A definitive date for the Visa payments enable Fitbit Ionic is not yet available but it is rumoured to be October 2017.