US startup crowdfunds contactless bracelet

US startup crowdfunds contactless bracelet

US startup PureWrist is seeking to raise $20,000 on IndieGogo to begin live production of a contactless, wearable payment bracelet

The PureWrist bracelet uses a mini pre-paid MasterCard debit card to make payments with a touch of the wrist at stores equipped for contactless chip acceptance. It comes with an online account provided by Sunrise Bank where users can track spending and load funds onto the cards.

The bracelet may have a cool factor, but it comes at a price, with PureWrist levying a $40 fee for the bracelet and a $4.99 monthly subscription charge. Twenty percent of net profits raised on IndieGogo will be channeled to The Leukemia & Lymphoma Society.

The company has so far raised $8,000 in its first week on the crowdfunding site.

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