Luxury brands are throwing their thousand dollar wide-brimmed hats into the wearables arena, hoping to bring some much needed panache and flair to the rote and uninspiring aesthetic of many current offerings. Hoping to appeal to this class of citizen, MasterCard and security software company WISeKey are partnering with brands like Bulgari and Hublot to create a line of luxury wearables that will be able to perform contactless payment. After all, what could be more flashy than wearing, displaying and dispensing with the healthy contents of your piggybank than a luxury wearable that allows you to pay for things, like say, a luxury wearable?
This added feature could help bring the wearables and watches these luxury brands already offer more into the mainstream, and could put MasterCard on track for a nifty contactless payment method that rivals that of Apple Pay. Announcing this partnership at the Mobile World Congress in Barcelona, MasterCard and WISeKey hope these contactless payment wearables will offer customers a more secure shopping experience.
WISeKey already has partnerships in place with Bulgari and Hublot as those companies utilize its patented security software program, WIS.WATCH, for their smartwatches and wearables. Joining forces with MasterCard will bring the credit card company’s experience with global commerce, payment and digital security into the fold, hopefully ushering in a wave of quality, completely secure wearables that will offer a safe payment platform and an air of status with an attractive, blinged-out piece of hardware on one’s wrist. With any device equipped with WISeKey’s security software, it can be used to carry out payment options through MasterCard.
The goal is that this partnership will extend beyond wearables into other accessories and gadgets like fitness trackers and even refrigerators, because, how easy would it be to stock your empty fridge from home by paying for groceries right in your kitchen? In order to protect and safeguard a wearer’s finances and information, MasterCard will merge their payment technology with WISeKey’s Cryptographic Root of Trust in the Internet of Things to safeguard over an individual’s data. With wearables that look as good as the ones from Bulgari and function like credit cards, you’ll never forget to leave the house without one and have to skip out on a bill.