Wirecard unveils HCE-based payment wearable

Friday 16 January 2015 00:51 CET | News

Technology services provider Wirecard has unveiled a payment wearable solution based on host card emulation (HCE) technology.

The Wirecard Smart Band is set to be showcased by the technology and payment provider via a user scenario at this years DLD15, which will be taking place in Munich from January 18-20, 2015 and is entitled Its Only The Beginning.

For a contactless payment process, the user holds the armband against the NFC payment terminal. The payment transaction is displayed on the screen of the Wirecard wearable device and on a smartphone app. It can also be connected to a number of mobile services, such as loyalty schemes, and can be used as an admission control wristband. This solution is suitable for cruise ships, festivals, holiday resorts, hotels, ski regions and theme parks.

The Wirecard Smart Band with its contactless payment function is worn on the wrist. It is wirelessly connected to an app on a smartphone and via Bluetooth 4.0 (BLE). In order to carry out a contactless payment, the user should first preload a one-off token to their payment band via their smartphone. This is made possible through Wirecards NFC host card emulation technology. One token will be used for each payment transaction. The tokens replace card data that has been provided, which is stored in a secure server. The Wirecard Smart Band can also be used to make payments when the users mobile phone is in offline mode.

Wirecard is an international provider of electronic payment and risk management services. Worldwide, the Wirecard Group supports over 12,000 companies from various industry segments in their efforts to automate their payment processes and minimize cases of default.

In recent news, Wirecard and financial institution Bank Mega have joined forces to support Carrefour Indonesia.

For more information about Wirecard, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.

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Keywords: Wirecard, payment, wearable, Host Card Emulation, HCE, contactless, NFC, smartphone, wristband, Band, loyalty, Token, BLE, offline
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce