CaixaBank NFC wristband makes contactless Visa payments in a snap
One of the Spain’s largest bank, CaixaBank has a very futuristic view and thinks well of the wearable technology. That is why they have taken the initiative of integrating their payment services with a NFC-enabled wearable wristband to make it ultra-easy for the end-user. The wristband is available at all CaixaBank branches and has been already distributed (15,000 contactless wristbands) to select users for testing purposes.
The wristband has Gemalto Optelio Contactless MiniTag with customer’s encrypted card details that for now can make payments of up to 20 Euros from over 300,000 contactless POS (Point of Sale) terminals across Spain. To make a larger payment, the user has to enter a pin code, but that will change as the gizmo gets through the testing phase.
CaixaBank has also developed an app on its CaixaMóvil App Store that keeps the user updated about any transactions by sending SMS whenever a transaction is made using the wristband.
The adjustable Visa contactless wristband can be worn just like any other normal wristband as it is waterproof and damp-proof for any kind of use. Whenever the user intends to make a payment all they have to do is bring the wristband close to the POS system and they payment will be authenticated.
Clearly CaixaBank has a vision for the future which is going to be dominated by wearable technology and mobile payments are going to be highly influenced by it.