I’m doing my MasterCard payments research, until I found something interesting and feel like to share with the world. An RFID-enabled watch that offers and allows contactless MasterCard payments. The idea itself looks very cheesy and interesting even while hearing for the first time.
Contactless credits things have been around for many of the years as of now, what we had not seen until is the watch offerings an RFID-enabled payments options such as MasterCard PayPass and VISA PayWave. Watch2Pay devices, allow consumers to pay for their purchases with the swipe of their watch anywhere where PayPass is accepted.
According to LAKS, an Austrian watchmaker company, Watch2Pay devices come with both a standard and smaller version of MasterCard PayPass which can be fitted inside the watch easily. While doing shopping or making purchased, Watch2Pay users can simply hold their watch up the retailer’s reader and payment is made at the same time.
What is RFID?
RFID stands for Radio Frequency Identification and it is a method, relying on storing and remotely retrieving data using devices called as RFID tags or transponders.