Source: Giesecke & Devrient
Giesecke & Devrient (G&D), in collaboration with CaixaBank, will distribute wearable wristbands for contactless payments among MWC 2017 attendees.
The wristbands, manufactured by G&D, are lightweight, submersible and ergonomically designed.
These certified by Visa devices have an initial balance to be used in shops in Barcelona and worldwide
There will be 936 million people using this technology to make payments by 2021, and the value of transactions will exceed 471,000 million euros
They integrate a security chip based on Java technology where the CaixaBank payment application has been installed as well as an initial balance. G&D customers can verify its simplicity of use when making small payments in a great variety of shops in Barcelona. In addition, since it is a certified by Visa product, the wristbands can be used to pay in any country around the world. Its operation is similar to that of a prepaid chip card.
Apart from payments, the new wearable device can also be used as a building access control system or as a public transport card thanks to the NFC contactless technology and various mobile applications.
According to G&D, the payment business is going to undergo a strong transformation and mobile payments will experience an exponential growth in the short term. In fact, according to the company, there will be 936 million people using this technology to pay for their purchases in 2021, being the value of the transactions 471,000 million euros. That will require higher levels of security, instantaneity and ease of use in all channels.