Thursday , August 18 2022

Run in the Sports Package after breakfast


Standing at the point of joining is becoming more and more popular in the supermarket. At least 54% of all payment transactions in Austria are currently non-contactable. According to Erste Bank, the number of NFC cards is up to $ 8.7 million. It makes 92% of all bank cards in the country. NFC means "Near Field Communication" and provides non-contact payment.

In addition, there are fewer and less money. But some amateurs make some sheets before running and then turn to the bakery, they have several coins or even cards with them – usually hours. There are good news for these types of things, but not just in the case of Garmin watches. Then you can use the new payment service provided by Erste Bank and Garmin Pay from insurer banks, and pay off without the hour. The range of 20,000 devices is a US-based Austrian company. With a 38% share, Garmin is a leader in the Austrian market for sports and fitness watches.

Protection from theft and loss

To pay with the Garmin app, you need a current smartphone such as the Fenix ​​5 Plus, the Vivoactive 3 / 3M series, or the previous version 645 / m. Garmin Connect connects the clock to your smartphone and enters your credit card details once. After verification, the self-selecting 4-digit code protects the data over an hour.

If the hours have been removed from the bracelet, the payment process code should be re-entered. According to the two companies, the thieves do not have the opportunity to do so. Technically, Garmin Pay uses encrypted transaction codes for each payment transaction that is not stored in Garmin or Garmin servers.

High technical strength

In recent years, unrelated transactions with Erste Bank and insurant banks have been steadily rising. Currently, two-thirds of digital payments are credited to smaller amounts of 25 euro within NFC. Frequent use of card payments, except for Thomas Sheffler, Erste Bank's Privatkundenvorstand, plus a good overview of personal finances. Internet Banking Overview is wider than every electronic payment.

Simpler Weber, Garmin Marketing Director, explains in the "hourly" interview for the roof area, and even faster. The interface has to be presented by Garmin, the Institute for Connecting to the Banking System should accept. From the beginning of the collaboration to a live operation, it took about 11 months. The launch was originally scheduled for September. Many banks, because Weber know about their negotiations, does not doubt this loss. Because the S Visa card will be issued for Garmin Pay at the beginning of 2019, and in autumn, the new ATM card, Debit MasterCard, can be paid through Garmin Watch.

We need to make offers to other banks

In the future, Garmin Pay will work with Vimpay, a German mobile payment service provider in Austria, in 2019, for all Garmin holders with a bank account and Mastercard credit card. Currently, Vimpay's multifaceted program is available only in the German neighborhood.

Generally, Austria is behind with digital payments compared to European countries, especially Scandinavia. Instant change in a non-cash society is only possible through political pressure, "says Shapler, a board member. However, it is a sign that the Austrian "access to cash".

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