MasterCard and WISeKey to Offer Payment Capabilities to the First-ever Intelligent Mechanical Luxury Watch

MasterCard and WISeKey to Offer Payment Capabilities to the First-ever Intelligent Mechanical Luxury Watch
18.03.2016 10:15 am

MasterCard and WISeKey to Offer Payment Capabilities to the First-ever Intelligent Mechanical Luxury Watch

Payments , IT Innovations , Infrastructure

Today at BaselworldBulgariMasterCard andWISeKey announced that MasterCard contactless payment capability will be embedded within the first-ever “intelligent mechanical luxury watch” – the Bulgari Diagono Magn@sium. This major innovation comes one year after the presentation at Baselworld 2015 of the innovative luxury watch, which Bulgari has now fully developed and industrialized for a potential market introduction before the end of the year.

Utilizing WISeKey cyber security technology, the global alliance between Bulgari and MasterCard will enable Bulgari Diagono Magn@sium “intelligent” watch owners to make payments securely at the more than four million retail locations in 74 countries globally that accept MasterCard contactless transactions.

The payment capability complements the secure access functions being embedded in the Diagono Magn@sium powered by WiseKey’s cyber security technology. The secure access functions allow watch owners to unlock the BVLGARI Vault Application, which provides a unique user experience that protects personal digital assets encrypted on consumer smartphones or tablets by storing encrypted replicas of them in a secure cloud buried in a Swiss military bunker, somewhere in the Alps. Additional secure access functions planned by Bulgari include the ability to open select automobile doors, Bulgari hotel doors and other participating partners’ products.

“The cooperation between BVLGARI, MasterCard and WISeKey on the Diagono Magn@sium intelligent watch perfectly embodies Bulgari’s vision. We believe that technology and craftsmanship can be artfully combined to deliver a valuable and unique benefit to our clients without compromising the integrity of a timeless mechanical luxury watch. With the new Bulgari Magn@sium, our clients will have the luxury to forget their wallet and pay securely with only their Bulgari watch. This is extraordinary and part of the luxury experience,” commented Jean-Christophe Babin, CEO of the BVLGARI Group.

“MasterCard has extended payments to a wide array of consumer products across the fashion, automotive and technology industries, giving consumers the freedom to shop using the device, accessory or wearable that is most convenient to them – with the highest level of security available,” said Sherri Haymond, senior vice president, Digital Payments & Labs, MasterCard.  “Working with BVLGARI and WISeKey, we’re now able to bring these capabilities to a device that is capturing the attention – and imagination – of people in the luxury watch industry.”

“This cooperation between BVLGARI, MasterCard and WISeKey will open the door to additional eCommerce and marketing opportunities for the Bulgari Ecosystem. The increased security on device payments transactions will bring important benefits to Bulgari clients,” said Carlos Moreira, chief executive officer of WISeKey. 

The following video unveils the Bulgari Diagono Magn@sium watch: https://www.youtube.com/watch?v=GAyKfPOYwws&feature=youtu.be

The following is a brief interview with BVLGARI CEO discussing how BVLGARI is unlocking the future:
https://www.youtube.com/watch?v=76q2cNRt03o

Related News

Brady Harris Joins Dwolla as CEO to Scale Distribution

Dwolla, the programmable payments platform, today announces the appointment of Brady... Read more »

Poland’s National Payment Processor Partners with Cryptomathic to Deliver eIDAS-certified Remote Qualified Electronic Signature Services

Polish citizens can now sign documents digitally using mSzafir, a remote qualified e-signature service with the highest levels of security under European law, thanks to a new... Read more »

Mastercard enables Contactless limit raise across 29 countries; and champions permanent increase

Today Mastercard announced its commitment to enabling the increase in contactless payment limits across... Read more »

TransUnion Research Quantifies How Social Distancing is Changing Shopping Patterns

TransUnion (NYSE: TRU) today released new research that quantifies the spike in digital commerce since social distancing became widespread globally. The company found a 23%... Read more »

Wirecard expands presence in Mexico

Wirecard, the global innovation leader for digital financial technology, and Banca Afirme, a Mexican financial institution with a nationwide presence, are collaborating to... Read more »

Barclaycard to enable UK retailers to accept new £45 Contactless Limit

Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, will be rolling out the deployment of the new £45 contactless limit across UK retailers... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel