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Wearables for Payment

Total Cost €


EC-Contrib. €






 WEAR_n_PAY project word cloud

Explore the words cloud of the WEAR_n_PAY project. It provides you a very rough idea of what is the project "WEAR_n_PAY" about.

b2c    user    infrastructure    undergo    integrate    excellent    loyalty    2022    young    transport    airlines       expansion    couponing    spain    world    chips    raised    universal    east    fashionable    wearables    b2b    successful    equally    app    advantage    tokenization    highest    delivering    acute    terminals    employees    bank    grow    innovative    competing    sale    departure    market    created    momentum    retailers    contactless    50m    improvement    accept    rapid    payment    designs    watch    citizens    niche    authorised    wear    banks    middle    pilot    issued    2020    providers    payments    customised    enterprises    administration    convenience    security    international    pay    first    mobile    materials    170    managers    model    habits    cards    entities    multifunction    services    proof    ticketing    solutions    177    apple    launch    companies    membership    wetech    point    public    operator    800m    standards    respectively    shelve    clients    cagr    turn    agreements    delivered    correspond    independent    enormous   

Project "WEAR_n_PAY" data sheet

The following table provides information about the project.


Organization address
address: LOS PRADOS 166
city: GIJÓN
postcode: 33202
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Spain [ES]
 Project website
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT))
2. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
 Code Call H2020-SMEINST-1-2015
 Funding Scheme SME-1
 Starting year 2015
 Duration (year-month-day) from 2015-12-01   to  2016-04-30


Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    WEARABLE TECHNOLOGIES SL ES (GIJÓN) coordinator 50˙000.00


 Project objective

The infrastructure to enable contactless payments is now widely deployed in Europe, all point-of-sale terminals will accept contactless payments by 2020. Furthermore, the recent launch of Apple Watch including payment functionality, has raised enormous interest on contactless payment from wearables. Thus, the momentum is created for innovative companies to change the payment habits of young citizens, based on improvement of convenience and security. WEAR´n´PAY services correspond to the development and production of customised payment wearables with the highest security standards, in fashionable designs and materials. Our model is B2B, offering payment wearables to our clients (bank entities) thus not competing in the B2C market with on-the-shelve products, in the short-term. Our solutions integrate multifunction contactless chips so that they can also be used for transport access, loyalty cards and couponing, user´s membership cards and ticketing. Our multifunction wearables have the major operational advantage of being universal (mobile-operator independent) thus they can be equally used by all citizens, which is very important for facilitating agreements with public administration (i.e. transport managers) and other providers (airlines, retailers, etc.). Wetech has delivered bank-issued wearables for contactless payment and is developing wearables to be issued by the end-user through an authorised bank app, based on tokenization. Wetech is one of the first enterprises in the world delivering payment wearables, currently working in one Proof of Concept and one Pilot project with two major banks (in Spain and in the Middle East, respectively). Wetech is at an excellent departure point for a successful exploitation of this market niche, expected to grow at an excellent CAGR of 177% over the next years, up to a 800M€ EU market by 2022. Upon this project, Wetech will undergo a rapid international expansion to reach a turn over above 50M€ and 170 employees by 2022.

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The information about "WEAR_N_PAY" are provided by the European Opendata Portal: CORDIS opendata.

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