Norwegian lender Handelsbanken has collaborated with BankAxept and EVRY to enable contactless payments for its customers through new micro format bank cards embedded in wearable devices.
Currently being trialled by the partners across Norwegian shops, the micro cards by BankAxept can be integrated into various locations such as bracelet, wristband, watchstrap and key ring.
The cards can be used to quickly and securely tap-and-pay within less than one second at all terminals that are enabled to accept contactless transactions.
Handelsbanken manager for cards Anthony Brady said: “We want to make paying as easy as possible for our customers. This micro bank card makes paying for small purchases quicker and simpler than any other solution currently available to customers.
“You can, for example, have this small waterproof card in a wristband on the beach so you can buy an ice cream as soon as you get out of the water without having to first fetch your wallet or mobile.”
The BankAxept micro cards use EVRY’s contactless technology, which can be directly linked to the user’s existing bank account. Purchases of up to NOK200 ($24.9) do not require a PIN code for payment.
These cards will be available to Handelsbanken’s customers later this year.
EVRY sales and marketing director for cards Borre Midtgard said: “Norwegians have become more confident and used to paying contactlessly, and this is helping to open up the market for contactless payment to include everything from wearables to smart watches and mobiles.
“Our aim in relation to this is to contribute our specialist expertise to create a better experience for Handelsbanken’s customers.”