First Investment Bank (Fibank) has teamed up with Mastercard and Garmin to launch a new pay watch in the Bulgarian market, reports Jane Connolly, according to FinTech futures.

Fibank customers who have a Mastercard debit or credit card issued by the bank can make payments and ATM transactions via Garmin Pay, by tapping the watch to contactless point-of-sale (POS) terminals and ATMs.

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Aimed at athletes and people who don’t want to carry a bag or wallet at all times, the technology requires a Garmin smart watch, which will be available to Fibank customers at “preferential” prices until January 31, 2020.