Fidesmo is expanding its position in the wearable payment market as it now launches support for Maestro cards. The support for Mastercard Maestro makes it possible for yet another large group issuing banks to offer the convenient tap and pay solution Fidesmo Pay. The wearable payment solution Fidesmo Pay was launched in early 2019, initially with support for Mastercard from the three largest banks in the Nordics.
– Supporting Mastercard Maestro cards are important in order to deliver the flexibility required by large card issuers around the world. Additionally, in certain markets Maestro is the number one issued debit card, and we can now confidently address those markets, says Mattias Eld, CEO of Fidesmo.
– Every purchase made with Mastercard or Maestro through Fidesmo-enabled wearables use Mastercard Digital Enablement Service (MDES). MDES generates a digital token, a unique number different from the actual card number, assigned to each registered device. This ensures the highest level of security as a transaction made with a physical Mastercard. At Mastercard, we are continuously working to enable payments to a whole new generation of devices to give consumers more choice in how they pay, says Caroline Casey, Vice President, Innovation Partnerships & Labs, Europe, Mastercard.
Fidesmo makes it possible to connect contactless services, such as payment, public transport tickets, office/hotel and car keys, to both passive and active devices. The wearable payment offering Fidesmo Pay launched in 2019 together with several fashion brands, providing wearables with payment functionality. The Swedish technology company provides a streamlined integration process for manufacturers to add contactless services to their devices and for contactless service providers to distribute their services without any hardware overhead to many devices. Fidesmo was founded in 2013 and has its headquarters in Stockholm and R&D offices in Madrid. Read more about us at fidesmo.com.
Mastercard (NYSE: MA), http://www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
CEO and co-founder Fidesmo