Pay-by-Wristwatch Debuts

PURCHASE, N.Y. – Consumers will be able to pay for small purchases with the flick of a wrist with new technology launched by MasterCard Worldwide yesterday; a wristwatch equipped with the company’s PayPass contactless technology. Under the pilot program, conducted with Turkey’s Garanti Bank, users can make payments by passing their watches by an RFID reader at 600 locations in Turkey, including major names like Burger King, Starbucks, Cinebonus, the Istanbul Ferry and the airport. The PayPass watch will allow users to make purchases under 15 euros ($18), with no signature or PIN required. Larger purchases will still require a signature under the pilot. The launch follows MasterCard’s introduction of the first wristwatch equipped with PayPass in Asia, to coincide with the 2006 World Cup of soccer in Germany.