Now 400 million Europeans can exchange the payment card for a ring, a bracelet or a watch. When Swedish Fidesmo Pay enters into cooperation with the payment app Curve, the service becomes available for the whole of Europe. With its sights set on the world, the challenger is now growing rapidly at 10 percent a month.
The Swedish fintech challenger Fidesmo Pay, which uses NFC technology to enable contactless payments through wearables, now enters into a partnership with the digital bank Curve. This means that 400 million Europeans can now join Curve and Fidesmo Pay and start using connected accessories for faster payments.
– The payment possibilities with Fidesmo Pay are endless, but the banks must dare to keep up with the development. Therefore, it feels extra fun to do this together with Curve, which is both an innovative and established player in the market, says Mattias Eld, CEO and founder of Fidesmo.
Fidesmo Pay has grown by 200 percent
With an ambition to make all of Europe pay with wearables, Fidesmo Pay is now ready to accelerate. Since the turn of the year, Fidesmo Pay has grown by 200 percent, and the number of new users is now growing at 10 percent per month. The goal for 2023 is to quadruple the number of active units out on the market.
– This is just the beginning for Fidesmo Pay. Users want as seamless a shopping experience as possible and the technology is already fully developed. Fidesmo Pay makes it possible to pay with any accessory for a significantly better user experience than that of competitors. The interest is enormous, Mattias continues.
– Fidesmo is an important partner for us at Curve, so that we can meet the growing need from customers to be able to pay with watches, rings and other wearables options. As the market grows, we will work closely with Fidesmo to jointly find new unique payment options, says Eric Molitor, Chief Technology Officer at Curve.
Free of charge for private individuals
Connecting your ring or watch to Fidesmo Pay is free for individuals and available through a number of different wearables players. If the user is connected to Curve, they get direct access to the flexibility of Fidesmo Pay. In addition, Fidesmo Pay became the first tokenized payment platform in the world to be able to include support for both VISA and Mastercard in 2021.
With strong investors behind him, and crucial banking partnerships in place, the groundwork is now laid to scale up Fidesmo Pay at an even higher pace than before.
– Fidesmo Pay will become Europe’s leading payment platform in physical payments. The next step is to expand the library of connected accessories, so that everyone can find the option that suits them through one of our partners such as Pagopace and Mondaine. Our technology is already applicable to anything, only the imagination sets the limits for how you should pay, concludes Mattias.
Three advantages of Fidesmo Pay:
- Quick and easy payment through your ring, bracelet or watch – just like with a traditional payment card. No double clicks or wallets!
- High security via tokenisations – the card details connected via Fidesmo Pay cannot be used anywhere else but together with your wearable.
- Available throughout Europe via Curve – 400 million Europeans can now connect to one of Fidesmo’s banks and start using Fidesmo Pay.
Fidesmo is one of many fintech players on the Swedish market who have made exciting product launches in 2022. Among the large number of companies in Sweden, Humla also stands out in the crowd with its card launch of the “humble card”, which you can read more about at dagensinnovation.se.