Stockholm, Sweden – May 12, 2025
Fidesmo, the leading enabler of contactless services, is proud to announce a major expansion of its Fidesmo Pay service, with over 600 new financial institutions added—most notably, theCooperative Banks in Germany, including Volksbanken Raiffeisenbanken and many Sparda Banks through integrations with VISA and Mastercard. This brings the total number of supported banks to more than 860, reinforcing Fidesmo Pay’s status as a leading payment platform for device manufacturers worldwide.
“Activating Fidesmo Pay across our network is not just about enabling wearable and device-based payments—it’s about providing consumers with the freedom to choose in which form they want to pay their in-store purchases” says Yves Besier, Project Lead for Fidesmo Pay at DZ Bank. “Payment rings, bracelets or other passive wearables are innovative means to pay and they are an important part of our mobile payment portfolio. With their technological capabilities, Fidesmo contributes greatly to the positioning of wearables in the European market.”
The seamless activation across the Cooperative Bank network in Germany marks a significant step forward, showcasing the scalability, reach, and technical versatility of the Fidesmo ecosystem.
“The addition of the Volksbanken Raiffeisenbanken not only affirms the strength of our platform, it validates the growing demand for secure, flexible, and embedded payment technology,” said Mattias Eld, CEO and Co-Founder at Fidesmo. “Our mission is to help our partners offer the most seamless contactless experience possible—and this milestone is a testament to that vision becoming reality.”
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About Fidesmo Pay:
🌍 Wearable Payments: A Rapidly Expanding Market
The global appetite for wearable payments continues to accelerate. The wearable payment device market is projected to reach $82 billion by 2026, up from $43 billion in 2021, with a compound annual growth rate of 13.6% (source). This growth is fueled by increasing consumer expectations for secure, frictionless payments embedded in everyday devices.
At the same time, tokenization—the secure replacement of card data with encrypted tokens—is becoming the backbone of digital payments. In fact, Mastercard has announced it will phase out 16-digit card numbers by 2030, with tokenized credentials expected to become the global standard for secure payments (source).
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📈 Usage Growth Confirms Platform Stickiness
The expansion of bank integrations has been matched by a dramatic 150% year-over-year increase in transactions on the Fidesmo Pay platform. This surge demonstrates that users are not only testing wearable payment options—they are embracing them as part of their daily lives. The trend reflects growing trust in the reliability and convenience of tokenized payment technology embedded into wearables and other connected devices.
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🧩 Scalable Integration for Device Manufacturers
Fidesmo Pay is designed to accommodate any device manufacturer looking to enter the payments ecosystem. Whether through plug-and-play integration using Fidesmo’s extensive secure element partnerships or through customized white-label deployments, Fidesmo offers flexible paths to market.
This adaptability ensures that brands—from watchmakers to fitness trackers—can quickly and securely embed payment functionality without compromising design or user experience. No solution is too complex, and no integration path is too narrow: Fidesmo enables product teams to build innovative, secure devices with confidence.
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🔚 Built on Scale, Flexibility, and Security
Fidesmo’s continued growth is rooted in three foundational values: scale, flexibility, and security. By supporting hundreds of banks and dozens of OEMs across Europe and beyond, Fidesmo has demonstrated its ability to scale across markets and ecosystems. Its modular integration approach empowers manufacturers of all sizes to bring secure, contactless services to market faster—whether through standardized or bespoke solutions.
At its core, the platform is built on a secure infrastructure trusted by global payment schemes and aligned with the most rigorous compliance standards. As digital interactions become increasingly embedded in daily life, Fidesmo is enabling a future where secure, seamless, and scalable contactless experiences are available to everyone, everywhere.
