MasterCard and WISeKey announced a partnership at Mobile World Congress in Spain to enable contactless payments on select luxury brand watches and wearables.

WISeKey currently works with an extensive list of premium watch manufacturers, including Hublot and Bulgari, which use WISeKey's patented security software, WIS.WATCH, according to a press release.

"Our collaboration with WISeKey is a great example of how payments functionality can deliver more value for a variety of device manufacturers, and create safe and convenient shopping experiences for their consumers," said Sherri Haymond, senior vice president of digital payments and labs at MasterCard. "Together, we are using our collective innovative technology and expertise to transform the way people pay for things."

"Working together, WISeKey and MasterCard will open the door to additional e-commerce and marketing opportunities for luxury wearable device and watch manufacturers. The potential for improved communication with customers can lead to increased customer loyalty and repeat business," said Carlos Moreira, CEO of WISeKey.