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Banca Transilvania, together with Mondaine, OT-Morpho and Mastercard, is launching the BT contactless watch, a new payment device that can replace the card at checkout, in Romania and abroad. The contactless watch will be unveiled for the first time at Techsylvania, one of Eastern Europe’s flagship events for technology and innovation enthusiasts, taking place 17–20 June, in Cluj-Napoca.

The watches are Swiss, by Mondaine, and the BT contactless version comes in three models: Classic-Ladies, Classic-Men and Premium-Unisex. The watch can be ordered online, on the BT website or at any Banca Transilvania branch, and is collected from BT, where the contactless card that will be inserted into the watch strap is activated. Depending on the model, the price ranges between 1,090 and 1,690 lei – approximately 300 euro.

The watch uses contactless technology, introduced in Romania for the first time by MasterCard, enabling users to pay faster and more securely. Launching the contactless watch is part of Mastercard’s strategy to increase the acceptance of contactless technology among Romanians and to offer them a diversified payments ecosystem.

Details:

• The BT contactless watch works like a bank card by accessing the current account in lei opened at Banca Transilvania. It can be ordered by Banca Transilvania customers who have a debit card in lei or, as applicable, the card can be provided together with the watch.
• For payments with the contactless watch at merchants, there is no fee.
• For payments up to 100 lei or the equivalent, no PIN is required.
• People who are not BT customers and want a contactless watch need to have a current account with Banca Transilvania, which can also be opened online.
• BT is the market leader by volumes generated by its own cards, up 20% in 2016 compared with the previous year.

In 2016, Banca Transilvania marked another first on the alternative payments market by launching the contactless bracelet. In addition, the capabilities of its self-service payment machines, the option to open a bank account online, one-time-password authentication for online card transactions, and the Livia robot - the new customer interaction channel using Facebook Messenger or Skype - are a few of the projects through which Banca Transilvania is focusing increasingly on digital solutions to give customers and employees comfort and mobility.

The story behind the contactless watch project can be found on the BT Blog.

Banca Transilvania’s partners in this project are Mondaine, Oberthur Technologies and Mastercard. Mondaine is a renowned Swiss watch brand. Its design was inspired by the clock in Swiss railway stations, and a full collection has been available since 1986. Oberthur Technologies is a leader in payment security services and solutions for banks and financial institutions, with a global presence. MasterCard, a technology provider to the global payments industry, present in more than 210 countries and territories, introduced contactless technology in Romania.