Wearable payments specialist, Digiseq has teamed up with Curve, a UK-based fintech, to bring its passive wearable payment technology to the European market.
The companies said in a statement that the innovation, which does not depend on battery life to function, can drive contactless transaction volumes for banks, payment service providers and other businesses.
In recent times there has been a growing acceptance of active wearable items like smartwatches and their ability to offer payment making functions. However, according to Digiseq its wearable tech can enable virtually any passive item without a battery to be inserted with a chip and be transformed into a contactless payment device. This includes a ring, bracelet, or even an item of clothing, the statement said.
Terrie Smith, Digiseq Co-Founder and Global Ambassador, said: “We’re thrilled to share the benefits of our contactless payment solution with Curve, enabling payments to be made through a spectacular range of unique and stylish wearables readily available on the market.”
She added, “In addition to payments, Digiseq’s solution can also bring a much richer consumer interaction experience with ’Promo-Ready’ – simply tap your wearable against your NFC smartphone to receive offers, upgrade your account, see your account balance, and more. This delivers huge benefits to brands looking to interact more frequently with their customers, and also streamline costs and incentivise more daily transactions
The system will be powered by Digiseq’s personalisation technology RCOS, which allows consumers to securely provision their Curve payment account onto their wearable using their Android or iOS smartphone.
Users link their card to their wearable item using Digiseq’s Manage-Mii app and can make wearable payments immediately upon activation. There is no requirement to share payment details with another third party.
The partners further described the technology as offering “a choice of stylish wearable items that go wherever the customer goes.”
Curve’s founder and CEO, Shachar Bialick added, “Our work with Digiseq will help us bring Curve payments to wearable technology that people already use every day, furthering our mission to become the most consumer-centric financial tool in anyone’s wallet – or ring, bracelet, and anywhere else they choose to use Digiseq’s technology.”