Greek startup's pay wearables hit Scandinavia
The coronavirus has increased contactless transactions and accelerated the penetration of wearable devices that allow for payments without the need for cards or other appliances. Greek startup Neos Beyond Payments has joined this market with its bracelets, which are about to hit the markets of Sweden, Denmark and Norway, countries where cash is hardly ever used anymore.
The use of passive wearables, such as those produced and sold by Neos, is flourishing in Europe, with transactions conducted through them growing eightfold in just one year.
The Greek startup has struck a cooperation agreement with Swedish technology firm Fidesmo that allows device owners to connect their cards with their bracelets and make payments using the latter.