“Royal Bank of Canada (RBC) is going to pilot test a ‘pay with your wrist’ technology called Nymi which identifies the customer’s unique heartbeat and allows credit card payments to go ahead.
The wristband, developed by Bionym, a Toronto-based developer of biometric and authentication technologies and applications for consumer electronics, looks very much like a watch. The device will be worn and tested by 250 RBC customers and employees. The pilot trial will continue until February 2015.
The aim is to eventually roll out the RBC PayBand (Nymi Band) to all its customers across Canada.
Jeremy Bornstein, head of RBC’s payments innovation operations, says his company has been considering wearable space for quite some time.”
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