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KBC bank launches new payment solution named Garmin pay

The solution is the first of its kind in the market and comes in response to growing customer demand for digital solutions that combine faster credit decision times with a seamless application and approval process.


Devdiscourse News Desk
Updated: 20-06-2018 12:24 IST
KBC bank launches new payment solution named Garmin pay

KBC Bank Ireland, an Irish bank providing a complete range of banking services has launched Garmin Pay, a new contactless payment solution to transform banking in response to customer demand for easy, secure, digitally-led solutions. (Image Credit: Garmin)

KBC Bank Ireland, an Irish bank providing a complete range of banking services has launched Garmin Pay, a new contactless payment solution to transform banking in response to customer demand for easy, secure, digitally-led solutions, adding to its existing digital wallets solutions Apple Pay, Google Pay, FitBit Pay.

The new solution from the popular device company Garmin will see KBC Bank Current Account and Credit Card customers able to pay for goods and services on the move using their Garmin smartwatch, with both the Forerunner 645 and Vivoactive 3 models compatible. Garmin Pay is powered by FitBit Pay.

The solution works at any point of sale terminal where contactless payment is available. Garmin Pay works with many major credit and debit cards, including Visa and Mastercard. It is easily accessible from your compatible Garmin watch. All you need to do is:

  • Enter your passcode,
  • Select the right credit card from your virtual wallet
  • Hold your wrist near the card reader, it's done.

Garmin Pay offers payment security by using watch-specific card numbers and transaction codes every time user make a purchase and the card number is not stored on the device, not even in the servers or passed to merchants while the payment is being done.

"For KBC customers, the launch of Garmin Pay is about combining fitness, lifestyle and banking in a way that works for the modern consumer. As a society, we're rapidly moving towards mobile tap and go payments, using our watches, fitness trackers and smartphones to do everything from pay for a coffee to apply for a personal loan. The future of banking is changing, and KBC is responding fast. From KBC's Innovation Hub, we're bringing new market innovations and digital experiences to customers for a better banking experience. We're delighted to launch Garmin Pay and build on KBC's growing list of innovative firsts for customers," commented Eddie Dillion, Director of Innovation, KBC Bank Ireland.

The solution is the first of its kind in the market and comes in response to growing customer demand for digital solutions that combine faster credit decision times with a seamless application and approval process. KBC is the only bank in Ireland to offer digital wallets from four of the world's leading technology companies.

COUNTRY : Ireland