MasterCard and Coin Sign Agreement to Power Wearable Payments

Partnership Bolsters the MasterCard Commerce for Every Device Program
to Deliver More Convenient and Safe Payment Options for Consumers

Atlas, Moov, and Omate to Enable MasterCard Payments on their Fitness
Bands and Smart Watches

LAS VEGAS–(BUSINESS WIRE)–MasterCard today announced a partnership with Coin
to bring MasterCard payments to a wide array of fitness bands, smart
watches and other wearable devices. This collaboration builds upon the
MasterCard announcement in October introducing the Commerce
for Every Device
program to enable any consumer gadget, accessory or
wearable to become a payment device.


Atlas
Wearables
, which designs advanced fitness trackers, Moov,
a personal fitness coach on your wrist, and Omate,
maker of fashionable smartwatches, are the first set of companies
working with MasterCard and Coin to implement payment technology in
their products.

“The great thing about the MasterCard program is that we are adding
payment functionality to items that consumers are already using –
fitness bands, jewelry, clothing, watches,” said Sherri Haymond, Senior
Vice President, Digital Payments, MasterCard. “This makes the products
more useful for consumers and enhances the value device manufacturers
can deliver to their customers. Coin complements that approach and
enables us to reach an expanded set of device partners.”

Coin will provide hardware and software technology that is integrated
with the MasterCard
Digital Enablement Service (MDES)
and can be embedded into devices
to enable manufacturers to quickly and easily implement payment
functionality into their consumer products. Leveraging the MasterCard
Digital Enablement Express (Express)
program, the addition of Coin’s
technology simplifies commercialization and enables participating
issuers to expand to a whole new category of devices.

Coin’s Payment of Things platform is a turnkey solution to
enable payments for the wearable/IoT industry. Leveraging Coin’s
technology, device manufacturers will benefit from significantly reduced
costs and time to market,” said Kanishk Parashar, CEO and Co-Founder of
Coin. “MasterCard is our essential partner as we team up to enable the
wearable domain that is projected to grow to an astounding $53 billion
by 2019.”

About MasterCard

MasterCard (NYSE:
MA), http://www.mastercard.com,
is a technology company in the global payments industry. We operate the
world’s fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in more
than 210 countries and territories. MasterCard’s products and solutions
make everyday commerce activities – such as shopping, traveling, running
a business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MasterCardNewsjoin
the discussion on the Beyond
the Transaction Blog
 and subscribe for
the latest news on the Engagement
Bureau
.

About Coin

Coin is a consumer electronics and financial software company focused on
bringing simplicity and security to payments. Coin gives consumers the
freedom to pay how, when and where they want while reducing the number
of cards in their wallets. Founded by Kanishk Parashar and Karthik
Balakrishnan, the Silicon Valley team behind Coin has a passion for
innovative technology that seamlessly improves customers’ lives. Follow
us on @coin or
visit onlycoin.com.

ADDITIONAL PARTNER QUOTES

Peter Li, Co-Founder & CEO, Atlas
Wearables:

“Atlas understands that customers today want more convenience, without
interruption. For Atlas to partner with anyone, the solution has to be
seamless. That is why we are excited to work with Coin and MasterCard on
bringing payments to our intelligent fitness tracker. Especially when
exercising, people want to be as light as possible. Purchases enabled on
Atlas devices are useful whether someone is taking a jog outside or
lifting weights at the health club. The simple integration offered by
MasterCard and Coin means we can put payments on our roadmap without any
distractions to our business. Everyone wins!”

Meng Li, Co-founder & CEO, Moov:

“Moov, the leader in the next generation of wearables, literally coaches
users into a fitter, healthier, and more agile lifestyle. Now, with the
opportunity to team up with the most trusted financial industry leader
in MasterCard and the mobile payment experts at Coin, shopping won’t
slow down our fast paced customers. We are excited about what this
partnership offers, and we know our users will enjoy the convenience of
accessing their wallets on the go with their Moov.”

Laurent Le Pen, Founder & CEO, Omate:

“Payment is the ultimate step for the global adoption of wearables;
which is why Omate is excited to partner with Coin and MasterCard.
Teaming up with major players in the payment industry allows us to
continue fulfilling our commitment to customers of providing fashionable
products that meet their needs. MasterCard and Coin are making it easy
for us to empower our customers to purchase in style, with a simple
backend solution that is compliant to financial standards and CVM
approvals.”

Contacts

Media:
MasterCard
Marisa Grimes, 914-325-8367
Marisa_Grimes@mastercard.com
or
Coin
Tony
Pham, 650-550-8137
Tony@onlycoin.com