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Curve Taps Into Growing Wearable Payments Market With Latest Partnership

Curve has come together with the Swedish technology company Fidesmo to enable its customers to make contactless payments with wearable devices. 

Offering a wearable collection of rings, bracelets and keychains, Fidesmo’s partnership with the financial super app will allow its UK and European Economic Area (EEA) customers to add multiple payment cards to Fidesmo devices, using them to pay at contactless terminals.

Fidesmo applies near-field communication (NFC) technology to tokenise the payments made through its devices; securing the safety of the payments.

Demand for wearable payment devices has grown rapidly in recent years, underpinned by contactless payment methods becoming the norm for many and the growing availability of wearable technology.

Manufacturers globally shipped a total of 232 million smart wearable devices in 2021, up by a fifth compared to the previous year, while one in four Europeans expect to pay with wearable devices in the future.

Curve cites its figures of double-digit growth in payments being made through smartwatches as a catalyst for its latest partnership, something that will be able to tap into the growing interest in wearable payment devices.

Curve Chief Technology Officer Eric Molitor
Eric Molitor, chief technology officer, Curve

Referencing Fidesmo as an “essential partner” in meeting the demand for wearable payment technology, Curve’s CTO, Eric Molitor confirms that as the market grows, the company will “continue working closely with Fidesmo to bring in new manufacturers and provide customers with unique experiences.”

Adding to this, Fidesmo’s co-founder and CEO, Mattias Eld says that the partnership marks an “important milestone” for the company, which plans to “continue the work of broadening and building the number of contactless payment solutions in the market.”

Author

  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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