Summary… * Machine-Made
Danske Bank is testing #FastPay, a wearable contactless chip that can be clipped to a wristband, keyring, jewellery or watchstrap for tap-and-go payments at the checkout.
The Danish bank is currently testing the chip with thousands of customers in Denmark, Norway and Sweden.
#FastPay will help drive the development of wearables, because everyone will be able to make card-free contactless payments without having to invest in a particular watch or or other expensive device."
The bank has yet to set a launch date for commercial roll out of #FastPay, preferring to gather feedback from customers participating in the pilot to refine the product ahead of a future release.
"The plan is to adapt the final #FastPay solution as quickly as possible so that it can become available to all customers,” says Schwaner.
Opinion… * Man-Made
Source: Finextra Research