Wirecard, the German payments company, has introduced a wearable wristband for contactless transactions.
The product, called the Wirecard Smart Band, can be used by placing it against a Near Field Communication-enabled payment terminal. It also uses Bluetooth technology to connect to an app on a smartphone.
Additionally, the wristbandwhich can also be programmed for loyalty schemes and event admissionsuses a token-based security system to protect customer data.
"Wearables are the new trend in the field of Internet-based devices," said Markus Braun, Wirecard's chief executive, in a Jan. 15 press release. Wirecard is headquartered in Aschheim.