The Bankwest Halo will allow its customers to ‘wear their wallet’, instead of carrying an actual wallet or a mobile phone when shopping. The Halo will link to a customer’s transaction account and will work like a contactless payment card. In order to pay, one simply makes a fist as if they knock against the payment terminal and hold it on the terminal. If the transaction is over USD 100, customers need to enter their PIN.
The wearable payment device will be launched in 2018, the company charging USD 39 for the device, although some of the first Halos will be sold for just USD 29. No app or charging will be required with the Halo, which will be water-resistant up to 50 metres.
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