To make payment, a customer selects the wallet feature and then taps their wearable on the contactless point of sale, just as they would when paying with their FNB Pay-enabled smartphone or their contactless card.
“This latest offering complements a number of our digital solutions that enable customers to conveniently make payments without the need for carrying a physical card or cash,” says Jason Viljoen, Head of Digital Payments at FNB. “It further aligns to our ongoing strategy to migrate customers to digital channels where we continuously provide them with innovative and customer-centric solutions that meet a diverse range of needs.”
The bank continues to receive overwhelming responses from customers using FNB Pay, a globally accepted contactless payment solution which allows customers to purchase goods by simply tapping their smartphones on any contactless enabled point of sale.
Coupled with the expansion of contactless payment acceptance both locally and globally, there’s no doubt that this new payment solution will be positively received by customers. For those customers who are already using these fitness wearables in everyday life, this new contactless payment solution further compliments their active lifestyles through enhanced convenience and safety as the need to carry cash or cards is diminished.
Multiple layers of security, such as encryption and tokenisation, make this one of the most secure methods of making a payment. Customers card details will remain private and secure as they will never be shared with retailers, Fitbit or Garmin.
As a further security measure, whenever the Fitbit or Garmin device leaves users’ wrist, they will be required to enter their wearable pass-code once placed back on the wrist in order to re-activate the functionality.
“The device stays authenticated for 24 hours or until you take it off your wrist. In addition, the point of sale device will also prompt you to enter your card PIN for certain transactions. Both your card PIN and device passcode should never be shared with anyone.” says Viljoen.
This payment solution is available to existing FNB/RMB Private Bank cardholders, who have a compatible Fitbit or Garmin device and have downloaded the Fitbit or Garmin App onto their cellphones. The list of compatible wearables can be found on the Garmin and Fitbit websites.
Upon linking an FNB Banking Card on the Fitbit or Garmin App, customers will be sent an OTP message via the FNB Banking App, SMS or email.
Customers will receive transaction notifications via the Banking App, SMS or email. They will also be able to view their transactions on their Fitbit or Garmin App 24/7.