Credit Card as a watch? No Way!

 

hi-rbc-royal-bank

Royal Bank of Canada thinks the world is ready to have their very own Credit Card as a watch.The bank has paired with Toronto-based technology developer Bionym to test a wristband called Nymi (pronounced Nim-ee), which identifies owners through their unique heartbeat and then lets them charge purchases to their credit card.The device looks like a watch, and will soon grace the wrists of 250 RBC clients and staff under a pilot project in Toronto which will start in February 2015. The Royal Bank hopes to get this product all across the country.For now, the Nymi band will only work with MasterCard, though eventually the Royal Bank hopes to allow debit transactions.The wristband has sensors that are programmed to recognize the unique electrical signals emitted by the user’s heart, also called an electrocardiogram. Without the heartbeat identifier the Nymi band shuts down, making it useless it someone steals the device and tries to access your account.

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This will mean that the customers would be wearing their payment options on their wrist. I think this is a very good step towards the future. People wouldn’t have to keep track of so many cards at once. I mean why would they when they can just wear it. Nowadays criminals have been stealing credit cards. With this device their won’t be as much crime rate as this device would be useless to anyone other than it’s original owner. I would definitely buy this if I ever could.

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2 comments

  1. This is pretty cool! But let’s hope you don’t lose your watch or that someone doesn’t steal it. This would be really convenient that’s for sure.

    Like

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