IBOS member KBC’s first Belgian financial institution that makes payments with Garmin Pay possible

IBOS member KBC has today, Tuesday, 16 October 2018, announced that customers of KBC, CBC, or KBC Brussels, who are in the possession of a Garmin watch with payment option, can pay for their purchases for free.

This makes KBC the first financial institution in Belgium to offer Garmin Pay: a fast, secure, free and convenient way of contactless payment for the active customer.

This is part of KBC’s strategy to strengthen its pioneering role in the field of payment methods. For instance, in September 2017 KBC launched Google Pay, a payment method that has since found its audience. Additionally, KBC Ireland was a pioneer in the Irish market by being the only bank in Ireland to offer the digital wallet of Apple Pay, Google Pay, FitBit Pay and Garmin Pay to its customers.

In Belgium, more than 90% of payment terminals are now equipped with the contactless function. Today, 7% of payments with KBC bank cards are already contactless. With an average amount of 16 euros contactless is seen as a smooth, fast and secure way of paying.

Read the full press release in KBC, here and in Finextra here.