Jewelry for contactless payment: Dutch bank ABN Amro begins new test
In the continuous effort to make payments easier and more secure, Dutch bank ABN Amro is currently testing payment "wearables". A select group of testers are already using a special Kerv ring or watch with Near Field Communication (NFC) to make contactless payments directly from their bank accounts, ABN Amro announced on Thursday.
In this experiment the bank is testing the payment capabilities of these jewelry items, seeing if they're secure and make payment easier for clients. The bank is also looking for more partners too join the development of this product. ABN Amro is currently working with Mastercard and DIGISEQ on this.
After the test phase, the ban hopes to have this payment method available to all customers by the end of this year.