MuchBetter, the developer of a payments app, has teamed up with Switzerland-based firm Winwatch, in order to launch an analog watch that allows users to conduct contactless payments.
The payments are processed with the help of a face made of “smart glass.”
The watch uses STISS payments glass, which is a super-strong sapphire glass that comes with an EMV chip and embedded antenna.
Jens Bader, co-founder at MuchBetter, stated:
“People are loathed to give up their expertly crafted analog watch in exchange for a smartwatch that may be obsolete in just a few years.”
“That’s why there’s such a big gap in the market for people who see the benefit of adding some smart features like payments to their beloved analog watch – especially now while contactless payments are not just highly convenient, but fundamental for public health.”
As explained in a release, the watch allows wearers to conduct secure contactless payments up to £45, which is the new limit introduced to encourage these types of transactions, following the Coronavirus (COVID-19) outbreak.
The watch is ideal for consumers who like the stylish appearance and features of luxury Swiss analog watches, but with added payment functionality. The watch doesn’t require regular charging and doesn’t depend on the internet for most functions.
As noted in the announcement, Winwatch is reportedly the first company to add a payment chip (EMV) and antenna within a glass watch face. The watch may be used at store locations where Mastercard contactless payments are accepted.
This technological development allows watch makers to develop their own payment watches, or retrofit older models with STISS glass (Swiss Technology Inside Smart Sapphire). Sapphire crystal is almost as strong as diamond.