Huawei and Yowpay, a Luxembourg-based fintech specialising in SEPA instant payments, have announced a partnership to launch the world’s first Open Banking/SEPA smartwatch point-of-sale (POS) application.
The application allows a Huawei smartwatch to function as a payment terminal.
Using Yowpay’s account-to-account (A2A) payment orchestration, merchants can accept SEPA payments directly via the watch.
Customers scan a dynamic QR code displayed on the watch face with their smartphone, bypassing traditional card networks and lowering transaction fees.
“Our goal has always been to make payments as seamless as a heartbeat,”
said Christian Caumont, CEO of Yowpay.
“By integrating our Open Banking and SEPA payments technology into Huawei’s wearables, we are giving merchants total mobility and financial sovereignty.”
The application is available on the Huawei AppGallery for the Huawei Watch GT and Watch Ultimate series.
Featured image credit: Edited by Fintech News Hong Kong, based on image by rawpixel.com
