A Huawei smartwatch can be transformed into a fully functional payment terminal using technology from Luxembourg-based Yowpay.

Yowpay is a fintech specialising in SEPA (single euro payments area) based instant payments. The partnership with Huawei has led to what is said to be the world’s first open banking and SEPA smartwatch PoS application.

Using Yowpay’s A2A (account-to-account) orchestration, merchants can now accept instant SEPA payments directly on their wrist. Shoppers simply scan a dynamic QR code generated on the watch face using the camera of their smartphone, bypassing traditional card schemes and reducing transaction fees.

“Our goal has always been to make payments as seamless as a heartbeat,” said Christian Caumont, CEO of Yowpay. “By integrating our open banking and generally SEPA payments tech into Huawei’s industry-leading wearables, we are giving merchants total mobility and financial sovereignty.”

The application is available on the Huawei (www.huawei.com) AppGallery for the Watch GT and Watch Ultimate series.

YowPay (www.yowpay.com) is a software provider for instant SEPA transfer payments. Its offering enables merchants, ecommerce businesses, freelancers and small enterprises to receive real-time payments into a dedicated bank account directly integrated into the service. With its banking infrastructure, YowPay optimises conversion rates by automatically directing payments to the most efficient channel using QR code, open banking or manual entry.