Swatch Pay is a payment method developed by Swatch, a Swiss company specializing in watchmaking. It offers a contactless payment solution that allows users to make purchases using their compatible Swatch watch.
Swatch Pay utilizes Near Field Communication (NFC) technology as its foundation. Swatch watches that are compatible with Swatch Pay are equipped with an integrated NFC chip, enabling them to establish a secure connection with NFC-compatible payment terminals.
To use Swatch Pay, users need to register their payment information in the Swatch Pay app on their mobile phone. This information may include credit or debit cards issued by participating banks. Once the payment information is stored, users can activate the contactless payment function on their Swatch watch and make purchases by simply bringing their watch close to an NFC-compatible payment terminal.
Swatch Pay provides convenience to users by allowing them to leave their wallet at home and make payments directly with their watch. It is secure because the payment information is stored in an encrypted manner on the watch, and no sensitive data is transmitted to the payment terminal during a transaction.