Fibank, Mastercard Team For Garmin Pay Transactions In Bulgaria

Fibank Customers Can Now Pay With Garmin Watches In Bulgaria

First Investment Bank (Fibank), Mastercard and Garmin have partnered for the Garmin Pay watch in Bulgaria, Fibank announced in a press release on Monday (Sept. 30).

Fibank customers will be able to digitize their Mastercards and use Garmin Pay on their smartphones and watches. Contactless POS payments and ATM transactions will also work with Garmin Pay.

"Central and Eastern Europe is a global leader in the development of contactless payments, and their huge success has created a demand for even more functionalities,” said Vanya Manova, Mastercard manager for Bulgaria, Northern Macedonia, Albania and Kosovo. “Bulgaria is among the countries where modern technologies are quickly finding a home and a favorable environment for development. Garmin Pay brings us one step further in delivering secure and convenient payment innovations.”

Security is backed by the Mastercard Digital Enablement Service (MDES) technology. In addition to a Garmin smartwatch, a Mastercard debit or credit card issued by Fibank is also required. Customers can register through the Garmin Connect Mobile (GCM) mobile application.

Garmin’s newest collection of vívomove hybrid smartwatches features a host of innovations, including health and fitness data along with text message notifications.

Smartwatch models in the new lineup – vívomove 3/3S, vívomove Style and vívomove Luxe – have the look of a regular watch with real ticking hands. Swiping moves the watch's hands out of the way to show a hidden smart screen. Along with fitness tracking and text messages, the smartwatch also includes social media updates, calendar reminders and more.

“The vívomove watches are designed for those who want the connected and health features of a smartwatch with a more fashion-forward look better suited for the office or dressing up,” said Susan Lyman, Garmin vice president of global consumer marketing. “With an extensive selection of bands and metal finishes, it’s a stylish accessory that also keeps tabs on your text messages, energy, stress, sleep and more.”



Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border.

Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.