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January 9, 2018

ABN AMRO trials contactless payments with wearables

Dutch banking group ABN AMRO has launched a pilot of its wearable payment system with 500 of its customers.

The pilot will connect wearables including a ring, watch, bracelet or keyring to customers’ current account and enable them make contactless payments.

The payment system will be trialled for four months. During this period, the bank will seek feedback on the service from customers through an app to further enhance the service.

ABN AMRO already carried out the first stage of trial of the wearable payment system internally in June 2017. The bank is working with Mastercard and DIGISEQ on the project.

ABN AMRO product owner payments Yvonne Duits said: “As much as 50 percent of all payments in the Netherlands are contactless. But the rise of contactless payment doesn’t stop at bank cards and mobile phones.

“More and more products have payment through Near Field Communication (NFC) enabled, so naturally we’re eager to test this method with our clients. The current project involves a range of wearables.”

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