07/07/2020

Fitbit Pay now available in Japan in collaboration with Sony Bank WALLET

Make easy and secure contactless payments using your Sony Bank Visa Debit on all Fitbit devices equipped with Fitbit Pay

Tokyo — [July 7, 2020] Fitbit (NYSE: FIT) announced today that Fitbit Pay is now available in Japan for the first time, in partnership with Sony Bank and its cash card “Sony Bank WALLET”, as well as Visa Debit.

Fitbit Pay allows you to make contactless payments by tapping the corresponding Fitbit smartwatch or tracker on contactless payment terminals. Fitbit Pay makes it quick and easy to make secure payments without pulling out your wallet or phone – something consumers are doing more of to avoid contacting commonly touched surfaces in public. In Japan, by registering a Visa Debit card with Fitbit Pay, you can make payments at Visa contactless payment compatible stores. Fitbit Pay provides secure payments through the Visa Token Service, so that users’ card information is never revealed to or shared with merchants or Fitbit. Users are required to set up their Fitbit device to require a PIN to be entered at the time of wearing their devices on wrist, for an added layer of protection.

“Today’s launch of Fitbit Pay in Japan takes us one step closer toward the government’s plans of making Japan a cashless society. The Japanese have always embraced new technologies that make life simpler and more convenient. Contactless payments are becoming increasingly popular in Japan and the current socio-economic environment has resulted in a surge among users looking for such solutions,” said Steve Morley, Vice President of International Health Solutions & General Manager of Asia Pacific at Fitbit.

“We are always thinking of ways to provide highly convenient services to our customers,” said Keiji Minami, Executive Office in charge of Product Planning, Sony Bank. “We are delighted to be able to offer Fitbit Pay for the first time in Japan and are happy to offer customers this easy to use experience. As a company we will continue to work together to provide additional new services in the future.”

"We are very pleased that Japanese consumers will be able to make smart, speedy, safe and secure payments using their wearable devices with the support of Fitbit Pay,” said Stephen Karpin, President, Visa Worldwide Japan. “Visa Debit is an immediate payment service that is very convenient for everyday payments. Visa will continue to work with partners to provide more innovative digital payment options.”

According to the Japanese Ministry of Economy, Trade, and Industry (METI), the current ratio of cashless payment stands at about 20 percent in the country in comparison to an average range of 40 to 60 percent in other developed nations. The Ministry previously announced aims to double the usage of cashless payment in Japan to 40 percent by 2025, and eventually to a world-leading 80 percent[1]. In addition, among the new lifestyle habits encouraged by the Ministry of Health, Labor and Welfare in today’s environment, the use of electronic payment is recommended, highlighting that payment with a wearable device that does not require card delivery can provide added safety and convenience to consumers. The launch of Fitbit Pay is aimed at contributing to the expansion and promotion of cashless payment in Japan.2

Fitbit Pay is supported by Fitbit Charge 4, the company’s most advanced health and fitness tracker with built-in GPS that was launched in April, along with Fitbit Ionic and the Fitbit Versa family of smartwatches. Fitbit Pay can be used at thousands of stores where Visa contactless payments are accepted.

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About Fitbit, Inc. (NYSE: FIT) Fitbit helps people lead healthier, more active lives by empowering them with data, inspiration and guidance to reach their goals. Fitbit designs products and experiences that track and provide motivation for everyday health and fitness. Fitbit’s diverse line of innovative and popular products include Fitbit Charge 4™, Fitbit Charge 3™, Fitbit Inspire HR™, Fitbit Inspire™ and Fitbit Ace 2™ activity trackers, as well as the Fitbit Ionic™ and Fitbit Versa™ smartwatches, Fitbit Flyer™ wireless headphones and Fitbit Aria family of smart scales. Fitbit products are carried in approximately 39,000 retail stores and in 100+ countries around the globe. Powered by one of the world’s largest databases of activity, exercise and sleep data and Fitbit’s leading health and fitness social network, the Fitbit platform delivers personalized experiences, insights and guidance through leading software and interactive tools, including the Fitbit and Fitbit Coach apps, and Fitbit OS for smartwatches. Fitbit’s paid subscription service, Fitbit Premium, uses your unique data to deliver actionable guidance and coaching in the Fitbit app to help you reach your health and fitness goals. Fitbit Health Solutions develops health and wellness solutions designed to help increase engagement, improve health outcomes, and drive a positive return for employers, health plans and health systems.

Fitbit and the Fitbit logo are trademarks or registered trademarks of Fitbit, Inc. in the U.S. and other countries. Additional Fitbit trademarks can be found at www.fitbit.com/legal/trademark-list. Third-party trademarks are the property of their respective owners.

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Appendix

About Visa Contactless Payment

The payment method that utilizes the international standard security authentication technology deployed in about 200 countries and regions around the world including Japan. Without giving the card to the clerk, simply touch the contactless Visa card (credit/debit/ prepaid) or Visa touch payment compatible smartphone or wearable device to the reader at the cash register, and payment can be completed quickly, safely and securely without a sign or entering the PIN [i]. Contactless payments are becoming common in many countries around the world. It is expected that approximately 50% [ii] of all cards in the world will be contactless by the end of this year. In addition, one in every three Visa face-to-face payments worldwide are traded via contactless payment [iii]. In Japan, more than 23.9 million Visa contactless payment cards have been issued [iv].

Click here for more information on Visa's contactless payment and its available stores.

https://www.visa.co.jp/pay-with-visa/featured-technologies/contactless.html

  1. :For payments over a certain amount, you need to insert a card and enter your PIN or sign
  2. :Juniper Research, Contactless Payments: NFC handsets, Wearables, Payment Cards 2016-2020
  3. :October – December 2019 Visa Net
  4. :According to reports from financial institutions and issuing companies as of March 31, 2020

About Visa Token Service

The technology enables customers to make payments without using the actual card number when shopping using a mobile device by converting information such as the Visa card number and expiration date into a digital identifier called a token. This will prevent the loss of card information due to device loss or unauthorized access to merchants and enable safe and secure electronic payment.

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1https://www.meti.go.jp/english/press/2018/0411_002.html

2https://www.mhlw.go.jp/stf/seisakunitsuite/bunya/0000121431_newlifestyle.html