Jason Viljoen, head of digital payments at FNB, says the new service is to make it convenient for clients to make payments without carrying cash.
Clients link their bank card to their Fitbit or Garmin apps. Fitbit users can do this by selecting the "wallet" option on the Fitbit app. Garmin users can go on Garmin Pay and select the "Manage Your Wallet" option.
Once that is done, they will receive a One Time Pin (OTP) to confirm.
To make payments, clients need to select the wallet feature on their watch and tap it on the contactless point-of-sale.
According to Viljoen, multiple layers of security such as encryption and tokenization, make this one of the most secure methods of making a payment.
An added security feature is that you will be required to enter your passcode after you took off your watch.
"The device stays authenticated for 24 hours or until you take it off," says Viljoen. You will also be prompted at the point of sale device to enter your card PIN for certain transactions.
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