ABN AMRO is the first bank to enable clients to make payments directly from their current accounts using a wearable.
A select group of users is currently testing various wearables, including a special Kerv ring (photo) and a watch with NFC technology (Near Field Communication). The test users will be able to use these wearables to make contactless payments at almost 40 million payment terminals around the world.
ABN AMRO will work together with the first users to explore whether these payment options become popular among consumers. At the same time, the bank is looking to forge partnerships with other parties. After this pilot has been carried out, ABN AMRO aims to make this payment technology available to clients at the end of this year.
This technology is an example of an innovative way of making payments quickly and easily. Thanks to ABN AMRO’s close cooperation with Mastercard and DIGISEQ, the product meets all requirements for making reliable and secure payments.
Source: ABN AMRO