Fidesmo unites with Länsförsäkringar Bank for elevated tech focus

The Swedish tech company Fidesmo has grown its offering through Fidesmo Pay, following a collaboration with Länsförsäkringar Bank.

In partnering with Länsförsäkringar Bank, a specialist within banking services in Sweden, banks will enable customers to utilise the payment service Fidesmo Pay to tokenize Länsförsäkringar cards onto a variety of wearables, placing a heightened focus on consumer needs, engagement and efficiency. 

As part of the link, customers will now be able to use bracelets, key rings, watches and watch straps, and other form factors as a means of payment, to tap and pay on any contactless terminal. Paying with a wearable will bring the same benefits as paying with a physical payment card.

Mattias Eld, CEO of Fidesmo, commented on the expansion: “We are happy to see that more and more banks offer tokenized payments to their customers, and wearable payments being one of them. We are looking forward to expanding the Fidesmo Pay offering in the Swedish market together with Länsförsäkringar.”

Wearables and payment tech continue to grow in usage across Europe, specifically as users have taken on greater focus on contactless payments. Sweden has elevated contactless payments in recent years, becoming a European leader in the growth of the tech.