ABN Amro has started a pilot that will test the use of wearables to make contactless payments directly from customer accounts. The bank claims it is the first to make this possible. A select group of users are currently trialing special Kerv rings or watches with NFC (Near Field Technology) to make payments. NFC can be used at nearly 40 million contactless PoS worldwide.
Together with the testers, the bank will consider whether and how the new payment option will be launched, though it hopes to introduce it by the end of the year. The bank will also be looking for more partners to cooperate with. According to ABN Amro, close cooperation with Mastercard and DIGISEQ will ensure that payments with the wearables meet all the conditions for trustworthy and safe transactions.
