Wells Fargo rolls out Fitbit Pay mobile payment capabiltiy

Wells Fargo & Co. has partnered with wearables provider Fitbit to launch Fitbit Pay, a solution that will allow the financial institution's customers to pay via their Fitbit Ionic smartwatch at merchants with NFC-enabled payment terminals.

"Increasingly, our customers are choosing mobile to manage their finances and make payments," Jim Smith, head of virtual channels at Wells Fargo, said in a press release. "In fact, in May 2017, Wells Fargo had more active mobile customers than online ones for the first time ever. As customer behavior and preferences continue to shift, we're pleased to provide more options to conveniently make payments from mobile devices and wearables like Fitbit Ionic."

Mobile banking is the fastest growing channel in Wells Fargo's history, with more than 20 million active customers, the release said.

Fitbit Ionic is a health and fitness smartwatch from Fitbit, offering personal, actionable guidance to motivate users to reach their goals. Fitbit Ionic offers broad compatibility across Android, iOS and Windows smartphones.

Payments using a Wells Fargo-issued card via Fitbit Pay are monitored by Wells Fargo risk and fraud detection systems and protected by Zero Liability, which reimburses the cardholder for any unauthorized card transactions when reported promptly, the release said.

Topics: ATM & Mobile Banking, Bank / Credit Union, Omnichannel Banking, Transaction Processing, Trends / Statistics

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