Visa, Mastercard unveil plans for contactless clothing to replace wallets

Visa, Mastercard unveil plans for contactless clothing to replace wallets

PanARMENIAN.Net - Some shoppers have replaced their wallet with their phones, but soon you may only need the clothes you're wearing to buy things, Digital Spy reveals.

Both Visa and Mastercard unveiled plans to put contactless payment technology in wearables other than the now-standard mobiles or watches.

Visa said that its Visa Ready programme would be expanded to include Internet of Things companies, including "manufacturers of wearables, automobiles, appliances, public transportation services, clothing and almost any other connected device".

Its executive vice president of innovation and strategic partnerships Jim McCarthy said: "By adding payments to these devices, we are turning virtually any internet connection into a commerce experience - making secure payments seamless, and ultimately more accessible, to merchants and consumers."

Visa has also teased prototypes of biometric authentication, with shoppers one day being able to buy goods with a wave of the hand or facial recognition.

Mastercard announced a developer programme with Coin to speed up the integration of payments into wearables and a partnership with WISeKey to enable contactless payments on select luxury brand watches and wearables.

 Top stories
Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT).
Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues.
Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls.
Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020."
Partner news
---