- Contactless payments are winning the race when it comes to the payment preferences
- Customers have spent 10% more each year on health and wellness products and services
UNITED Overseas Bank’s (UOB) cardmembers will be the first in Asia to be able to make Fitbit Pay contactless payments through the new Fitbit Ionic smartwatch.
UOB’s latest innovation in payments is set for the lifestyles and payment preferences of its customers.
On a year-on-year basis, the bank’s data shows that in the last year 30% more of its customers made contactless payment through cards, smartphones and wearable payment devices.
The total number of contactless transactions almost tripled in the same period, indicating that not only are more people going contactless, they are also doing so more often.
UOB Cards and Payments Singapore head Choo Wan Sim (pic, above) said, “We continuously look for ways to enable our customers to make payments simply, easily and quickly. What we can see is that contactless payments are winning the race when it comes to the payment preferences of our customers.”
The bank also observed that over the past three years, customers have spent 10% more each year on health and wellness products and services.
“Our data suggests that customers are more conscious of the need to stay fit and healthy and have been increasing their spending on health and wellness products as a result. This healthy lifestyle focus, together with a preference for contactless payments, makes it fitting for UOB to launch Fitbit Pay,” Choo said.
Fitbit, Inc vice president and general manager Asia Pacific Steve Morley said, “We are excited to welcome UOB as our first payment partner in Singapore and Asia. With Fitbit Ionic, UOB cardmembers will now be able to experience the convenience of cashless payments, while also keeping track of their personal wellness.”
UOB cardmembers are able to use Fitbit Pay in two quick steps. At the start, they need to add their UOB credit or debit card details to the wallet section of the Fitbit app and synchronise it to their Fitbit Ionic watch via Bluetooth.
To make a purchase, the customer activates their card by pressing and holding the left button on their Ionic, and then holding the watch in front of a contactless payment terminal to complete the transaction.
As part of UOB’s launch of Fitbit Pay contactless payments in Singapore, cardmembers who meet minimum spending requirements on their UOB Cards are eligible to redeem a limited-edition Tristan Eaton-designed Fitbit Ionic watch or Fitbit Charge 2 tracker.
The promotion will run from Nov 9, 2017 to Dec 31. 2017, or while stocks last.
UOB customers were the first in the world to enjoy instant digital credit card issuance in 2016 and the first in Southeast Asia to be able to use its contactless ATMs with just a tap of their smartphones.
UOB’s customers were also the first in Singapore to be able to turn their mobile phones into a digital security token.
The bank has also been a champion of providing integrated payment options through its all-in-one mobile app UOB Mighty.
UOB customers were the first in Singapore to pay and to be paid via PayNow on their social messaging apps, which was made possible with the launch of UOB MyKey – the bank’s mobile keyboard for Android smartphones.
UOB’s encouragement of cashless payments is aligned with Singapore’s Smart Nation initiative to promote better living using technology.
Source: Digital News Asia