OT launches new range of on-the-go payment wearables

Thursday 1 September 2016 | 11:02 CET | News

Oberthur Technologies (OT), a provider of embedded security software products and services, has launched a new range of on-the-go payment wearables called Flybuy. The products include Flybuy Mini Fob, a SIM-size contactless card with a boosted antenna that can be inserted into a silicone or leather wristband, key chain or special pieces added to fitness trackers or watches. The fob makes it possible to add contactless payment functionality to various existing objects, said OT.

The company has also created the Flybuy Secure Element, intended for OEMs to be embedded into watches or fitness bands directly at the manufacturing stage. OT said its range of wearables can be positioned either as a companion extension to an existing payment card or as a standalone prepaid option, with their settings easily managed by a mobile app. They can be used for payment, public transport and to access corporate premises, fitness centres or music and sports events.

OT has already launched other on-the-go payment wearables, such as payment stickers and keyrings. It says the number of wearable devices used for payments is set to increase from 10 million units in 2015 to over 150 million units in 2020, according to IHS research.

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