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Wearables. An expression of payment? Your Contactless Intelligence Weekly News Review

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Wearables. An expression of payment? Your Contactless Intelligence Weekly News Review
Contactless Intelligence Weekly News Review - Calendar Week 40
 

Wearables. An expression of payment?

A few days ago, I was shown a little video in which a bloke, dressed as the Harry Potter character Prof. Dumbledore, got on London buses and waved his wand at the terminals to pay. No magic, of course, the clever prankster had placed one of the Oyster card chips in the tip of the wand and was using that to make a contactless payment - much to the bemusement of TfL drivers and fellow passengers. Well, he could have come straight from the catwalk, because…

Contactless payment using items other than mobile phones or cards appears to be the next (big) thing, if last week’s news features are to be believed. First there was the news of British designer Henry Holland teaming up with Visa Europe to combine fashion, wearable technology and payments. At his London Fashion Week show on 19 September, he demonstrated how an NFC chip embedded in an e-ring (as opposed to an earring *chuckle*) could be used to purchase items directly from the runway. Specially designed rings in the shape of bugs were allocated to 10 VIPs at the show, including models Alexa Chung and Daisy Lowe. The rings contained NFC chips and were pre-loaded with £500 credit. At the end of the show, the VIPs were able to walk up to one of three models and touch a giant brooch in the shape of a leaf with the bug ring, in order to purchase one of the items they were wearing. 

House of Holland worked with Visa Europe's innovation hub, Visa Europe Collab, to develop the technology as part of a 100-day "sprint". The NFC brooches were linked to virtualised payment terminals via Bluetooth Smart technology, allowing Visa to process the transactions in the background as the show went on.

Last week, Visa Europe also released three videos that demonstrated a wearable design concept; Small Change, Budgeteer and Thread. Visa Europe teamed up with world-renowned art and design institution, Central Saint Martins, and challenged five of its top design students to explore the future of wearable payments. The young designers, who are all either students or graduates of the MA Industrial Design course at the London-based university, were asked to imagine the form and functionality of contactless wearable devices by 2020. The project culminated in the presentation of three design concepts at the annual Visa Europe Technology Partner Forum in London last week. 

Speaking about the project, Nick Mackie, head of contactless at Visa Europe, said,“At Visa, we envisage that contactless technology will become a standard feature on many wearable devices by 2020; in fact, there’s no reason why the payment function on a wearable device wouldn’t become as ubiquitous as the alarm function on a digital watch.” These are all design concepts– which Mackie emphasises are intended to inspire ideas and conversation about the future of wearable payments, but not for mainstream consumption.

However, another wearable that IS being made for mass consumption is the Kerv. Developed by a London fintech start-up, this contactless payment ring is being launched on Kickstarter looking to raise £77K to move the product to mass production. Kerv wearers can make instant contactless payments of £30 or lower with a single gesture – no card, PIN, or paired smartphone required - just load it up online.

Beyond retail payments, Kerv can be used on the Transport for London network (and other global cities’ mass transit systems). Kerv also offers instant sharing of emergency, medical or contact details at the tap of an NFC-enabled phone, plus one-touch access via compatible NFC locks and security systems – which means even more pocket junk can be left at home.

Kerv founder, Philip Campbell, said, “Currently, wearable payment devices are either eye-wateringly expensive or thoroughly unattractive. But the biggest issue I have is that they’re all worn on the wrist, which has to be placed flat against the contactless reader in a way that feels extremely unnatural and awkward. With a creative background – plus eight years experience in payments – I felt we could do better. So we did, designing Kerv to be the most ergonomic, natural and convenient contactless payment method possible.”

Will we now see a plethora of augmented jewellery, hand signals (check out the Visa video for budgeteer) or dance moves designed for individual payment processes and avoidance of card clash? The future of payment looks to be quite… physical. Expect us all to look like a bunch of mimes pretending to pay for stuff in the future. 

Or Jedi Knights. *waves hand over POS* “This IS the coffee I am looking for”. Beep.

The rest of the UK may be a little more mainstream when it comes to contactless, but they are looking to London for the best use cases for contactless implementations across all kinds of applications. We at Contactless Intelligence are helping to facilitate this and have organised a roundtable - aptly names Contactless Britannia - where UK BIDs (Business Improvement Districts) as well as representatives of local authorities can exchange ideas with the top tech experts in the industry. The first of this roundtable series, taking place on October 14th, is now sold out. Experts from NXP, Creditcall, Samsung Media and other renowned companies will be present to share their visions and expertise. It looks set to be a very intense but rewarding day.

Until next time,

Steve Atkins
Contactless Intelligence

Barclays,
Verifone partner
to ensure
‘Pingit’
accepted on
m.commerce
gateway

Barclays is partnering up with payments technology company Verifone to ensure that its own payment service, Pingit, will now be an accepted payment method for retailers using Verifone’s m-commerce gateway.

Any customers of any bank can now pay for goods via the Pingit app almost instantaneously, thanks to the fact that Pingit eliminates the multi-stage checkout process. Barclays says the agreement means its Pingit service is now available to Verifone’s 20,000 managed service clients.

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SK Telecom to launch ‘T Smart Pay’ by end of year

According to industry sources SK Telecom has decided to officially launch its T Smart Pay at the end of this year, and is currently offering a Beta trial service. Once SK Telecom officially launches its T Smart Pay, SK Telecom subscribers will be able to pay using the using the service at public transportation systems in the nation’s five main cities.

Over 100,000 member stores are also expected to accept this form of payments, including convenience stores, bakeries, and pizza restaurants. The charge goes onto customers’ phone bills at the end of the month. 

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Apple Pay users more satisfied than other mobile payment users

The spend limit of contactless payments and Apple Pay that was increased from £20 to £30 as of 1st September meant more Apple Pay users could be using their iPhones to make payments, says eDigitalResearch.

According to the UK Card Association during the first half of 2015 customers spent £2.5 billion in contactless payments meaning that with the rise of spending limits, the UK could be set to start making more contactless payments in the near future.

Furthermore, the latest Contactless Payment Index results from eDigitalResearch show that 40% of Apple device users have used Apple Pay to pay for goods or services in the past while 15% of respondents feel that the introduction of Apple Pay will increase the amount of contactless payments that they make.

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Contactless payment ring launches on Kickstarter

Kerv, the London Fintech start-up, has launched what it is calling the ‘world’s first contactless payment ring’ on kickstarter.com and is looking to raise £77K to move the product to mass production.

Kerv wearers can make instant contactless payments of £30 or lower with a single gesture – no card, PIN, or paired smartphone required. Accepted anywhere in the world that takes contactless payments, Kerv is always on hand, removing the need to carry a wallet, purse, cash or cards – perfect for those with active lifestyles. The Kerv ring never needs charging and doesn’t need to be paired with a smartphone to work, unlike some power-hungry smartwatches sporting contactless payment functionality.

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Coverage on C-ITV

ACI: 6 out of 10 U.S. Consumers with Credit Cards are not Ready for EMV http://t.co/JhAiAjruxw 
SK Telecom to launch ‘T Smart Pay’ by end of year http://t.co/0vGNQ3soxc 
VIDEO: Samsung Pay TV spot has dig at Apple Pay http://t.co/8gz4CrTuvS
Barclays, Verifone partner to ensure ‘Pingit’ accepted on m-commerce gateway http://t.co/BfzQSc0i2U
Seamless mobile payments coming to JYSK stores in Sweden http://contactlessintelligence.com/?p=47311 
Gemalto wins 2015 Digital Payments Award from Juniper Research http://t.co/KvJENTtk4B
Silicon Valley Bank and MasterCard look to applications for Commerce.Innovated. http://t.co/r938EhivGh
EDITORIAL: EMV looms in the U.S., are consumers ready? http://t.co/o4eIUv41NQ
GlobalPlatform white paper looks at value of TEE for premium content protection http://t.co/VxLM82DNLt
Masabi and Keolis announce mobile ticketing partnership http://t.co/LEtLTfrCGe
Apple Pay users more satisfied than other mobile payment users http://t.co/sUDpwCjjg6
VIDEO: Wearable design concept - Small Change http://t.co/EMDpRAgVBE
VIDEO: Wearable design concept - Budgeteer http://t.co/AXEniaD8Jt
VIDEO: Wearable design concept - Thread http://t.co/GfIi4ByhAd
Contactless payment ring launches on Kickstarter http://t.co/xo6JoMmg8b


Payments & m-Commerce

Apple to Launch Online Payment in China http://bit.ly/1Lr9nSm 
Contactless Boom Is Good News For Mobile Payments http://bit.ly/1QSLwek 
Samsung Pay in Fighting Form against Apple in US Mobile Payment Market http://bit.ly/1FZNsvo 
Arab Mobile Content Delivers Mobile Payments to Customers with SLA Mobile's Direct Operator Billing Solution
http://bit.ly/1V77hNx 
Banks well placed to drive adoption of mobile payments http://bit.ly/1KOxpWE 
Visa ices Indian mobile finance project http://bit.ly/1iwmN3Q 
Starbucks brews up a new Android app with mobile payments and ordering http://bit.ly/1KOx2LW 
Virtual Visa card, platform for offering low cost services by banks http://bit.ly/1KOw8yP 
Visa closes down V.me – replaces with Visa Checkout http://bit.ly/1iwn0DZ 
London’s Velocity buys US m-payments firm Cover http://bit.ly/1KOxwl7 
Chip cards set to replace standard credit cards next week http://bit.ly/1VcRMDL 
UAE Exchange launches FOREX services wallet http://bit.ly/1iNzWGk 
Contactless mobile transactions to hit 5% of retail payments http://bit.ly/1iNzSq5


NFC, BLE, HCE, Wearables & Mobile

Five Reasons Why NFC is an Essential Technology for Marketing http://bit.ly/1Lr9VHO 
Henry Holland brings wearable payment tech to the catwalk http://bit.ly/1FZNl2R
Coin 2.0 finally makes good on company’s promise http://for.tn/1Pw55s9 
How your business can begin accepting contactless card payments http://bit.ly/1iNzrMr 
Why Apple Pay and other mobile wallet services could be regulated like banks http://bit.ly/1iNzJD1 
Gemalto: Three guiding principles for your mobile payments strategy http://bit.ly/1R52jeq 
What Is The Difference Between MIFARE Card & RFID Card http://bit.ly/1R52eaC 
Samsung Pay massive success in South Korea, American launch still on schedule http://bit.ly/1R54Jd6 McDonald’s Collaborates with Alipay for Mobile Payments http://bit.ly/1FxQzjl


Transportation, Ticketing, Access, Security & Loyalty

TransLink beginning to roll out Compass Card http://bit.ly/1Lr9mOi 
Contactless travel plan between Leeds and rest of the north gathers speed http://bit.ly/1Lr9j54 
VISA pledges credit card security http://bit.ly/1Lr9f5b 
Plans for contactless rail travel across northern England http://bit.ly/1FXgJXu


Other News & Opinion Articles

‘Smart’ credit cards finally arriving in U.S. http://bit.ly/1Lr9ehH 
Wirecard Payment Services now available for all Sky subscriptions http://bit.ly/1QSK1wZ 
WorldPay to press ahead with IPO http://bit.ly/1Lr9cq3 
Visa shelves mobile payment venture in India as telecom companies refuse to share their network http://bit.ly/1QSLu6u 
Bitcoin Is Declining, but Is It Dead? http://bit.ly/1ONDTH7 
Bank of England Economist Proposes National Digital Currency http://bit.ly/1V77mRt 
EMV Makeovers: How Small Businesses are Winning with Chip Technology http://mstr.cd/1Pw62AH 
Did Australian banks unlawfully blacklist Bitcoin? http://bit.ly/1R4Oz3l 
The EMV merchant liability shift: A last-minute look http://bit.ly/1VcRTPG 
Smart cards market sees tremendous growth http://bit.ly/1R4OpJd 
Oberthur Technologies: Planning for IPO? http://bit.ly/1R54XAK

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