Previously, in November 2023, Garmin first launched Garmin Pay in Vietnam through a partnership with VPBank. Garmin Pay received enthusiastic response and positive feedback from nearly 1,000 users in just 5 weeks of launch. This became the driving force for Garmin to continue expanding its banking ecosystem to help users access this new payment method.
Garmin Pay has just expanded its cooperation with major banks in Vietnam.
Garmin Pay is a contactless payment platform that helps users make transactions quickly. Built on an open platform that is not dependent on iOS and Android operating systems, this payment application does not require a connection to the phone, all users need is a compact Garmin smartwatch on their wrist. With just a simple touch on the POS machine, they can easily use and enjoy many attractive offers, or service utilities that Garmin and its banking partners bring.
Mr. Scoppen Lin, Vice President of Garmin Asia , shared: “Garmin is very excited about this partnership announcement, which clearly demonstrates our commitment to promoting the popularity of Garmin Pay in the Vietnamese market. Supported by major banks in Vietnam, Garmin Pay can now be accessed by more users and help them have a more convenient and modern living experience. As a leading brand in smart wearable devices, we will continue to contribute to the development of the smart payment market and promote a dynamic and convenient lifestyle for users."
Garmin Pay's maximum security system also allows bank card information to be kept confidential through a transaction code for each purchase. When paying, the payment card number will not be stored on the device, on Garmin's system or sent to the seller, but based on the specific card number of each watch.
If the user takes the watch off their wrist or turns off the heart rate monitor, the watch will ask for a passcode again before making a payment. Additionally, Garmin Pay will automatically lock the wallet if the user enters the wrong passcode three times. At that point, they will have to reset the passcode in the Garmin Connect app to continue.
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