SwatchPAY! Watch now in Russia. Mastercard Holders May Be the First to Use the New Payment Service
On November 12, in GUM Department Store, Mastercard and Swatch held a presentation of watches from the SwatchPAY! collection configured to make contactless payment. The product went on sale in Russian Swatch stores on November 7, 2019. The partners announced the imminent release of a new product on the Russian market at the FINOPOLIS 2019 forum in October.
New SwatchPAY! service is available only to Mastercard holders. The contactless payment technology is supported by six models of the SwatchРAY! collection with an NFC module hidden under the dial. The service is based on the Mastercard tokenization technology, which means that the card number is not involved in the transaction, but is replaced by another number (token).
“Mastercard has been actively developing its ‘Commerce for Every Device’ program: we introduce means of payment in a wide variety of form factors. Russia is open to such innovations: according to the results of the MasterIndex study, the popularity of gadgets with payment functionality grew by 30% last year. Today the SwatchPAY! Watch appeared in Russia, too. This contactless payment service is available only to Mastercard cardholders,” commented on the launch of products Mikhail Fedoseyev, Director of Business Development and Mastercard Digital Payments in the region of fast-growing European markets.
Like all other Swatch models, the SwatchPAY! watches are waterproof and easily withstand depths of up to 30 meters. They do not require charging and therefore are always ready to make a payment. Like all Swatch models, the new watch from the SwatchPAY! collection is a stylish accessory that fits any look. Retail price is 5,300 rubles.
Watches from the SwatchPAY! collection are on sale in all cities of Russia where Swatch stores are present: Moscow, St. Petersburg, Novosibirsk, Ekaterinburg, Samara, Sochi, Vladivostok, Kazan.
The first banks that have activated the SwatchPAY! service for their clients include Moscow Credit Bank (MKB), Tinkoff Bank, VTB Bank, and Russian Agricultural Bank JSC. Otkritie Bank and its partner banks will also offer the new service.
To be able to pay for your purchases with the help of the watch, you need to take only three steps. First. Purchase a watch from the SwatchРAY! collection at a Swatch store in Russia and activate the SwatchРAY! function then and there. Second. Install the SwatchPAY! app (available on iOS and Android) and enter the Mastercard data of a Russian bank that supports SwatchPAY!. Third. Activate the SwatchPAY! watch through a special SwatchPAY! BOX previously installed at the Swatch store. The activation process will take just a few minutes. After that, you can pay for your purchases with SwatchРAY! watch in one touch and easily manage payments in the app.
R.I.M. agency provided communication support to the event as part of the comprehensive Mastercard service in Russia.