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Altair Financial Services International Plc announced 26 June that it has received MasterCard Worldwide approval for a wristwatch that includes a reloadable PayPass chip. Consumers can use the watch to make payments just as they would with a PayPass card, the London-based company says. Altair designed the watch as an accessory to go along with a consumer's regular payments cards, Stephen Phillips, an Altair spokesperson, tells CardLine Global.  He says the watch works for payments when touched to a PayPass reader after a clerk has rung up a purchase and has selected PayPass for the payment type, thereby preventing accidental purchases. The watch can carry customer brands for companies that want to offer it. Altair worked with ID Data Ltd., MBNA Europe Bank Ltd. and Austrian watchmaker LAKS to develop the watches, the company says. In May 2007, MasterCard announced a PayPass watch with Garanti Bank in Turkey.

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