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Emirates NBD has begun issuing a wristwatch enabled with MasterCard Worldwide's PayPass contactless-payment application, the Dubai-based financial institution said this week. Consumers can make credit card purchases of up to 100 dirhams (US$27 or 20 euros) by tapping or waving their watchers at contactless-enabled payment terminals without having to sign the transaction slip. Neither the bank nor MasterCard said how many such terminals are deployed in the United Arab Emirates. Purchases above the limit require a signature, the bank says in a statement. The bank plans to issue the watches as supplements to customers who have MasterCard-branded credit cards. Watchmaker Laks GmbH is providing the watch. The Austria-based firm says it also has provided similar watches for Turkey-based Vakif Bank (CardLine Global, 24 Dec. 2008).
