Canada-based First West Credit Union has launched the first wearable payment accessory in North America that is based on Visa payWave technology.
Dubbed as Dashband, the limited release payment accessory enables wearers to pay for purchases with contactless payment technology, eliminating the need to swipe, insert, sign or enter PIN numbers.
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With Visa’s payWave, Dashband will be able to avoid the use of cards, signatures or PIN numbers for purchases. The band, which can be reloaded via the credit union’s online banking portal, has be placed near-or tapped on-a contactless payment terminal to make a purchase.
The credit union’s lead innovation architect Doug Ebner said: "We’ve been tracking the tap-and-go payment trend from the start and it’s clear that contactless payment is becoming an expectation of consumers.
"But we believe there’s a need for a simpler, more straightforward payment accessory that meets the need of busy people everywhere-and for which the only requirement is a bank account. The Dashband pairs nicely with our market-leading Simply Free Account."
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