Infineon Technologies now provides EMV-based payment solutions for key chains, rings, wristbands or bracelets etc, making it easier to integrate secured payment functionality into fashion accessories. The new SECORA™ Pay W for Smart Payment Accessories (SPA) combines an EMV chip with the card operating system, payment applet as well as the antenna directly on tape. As a turnkey solution it allows card vendors, device manufacturers, financial institutions or event organizers to quickly and cost-efficiently introduce fashion accessories for payment and even access.
Recently, Wirecard, the global provider of digital financial technology, and card vendor exceet Card AG, together with the German online bank comdirect introduced payment accessories based on the SECORA Pay W SPA solution. During the German Beach Volleyball Championships 2018, the spectators used their wristbands for making payments at the event.
The smart wearable technology is being used in a variety of applications from business computing to healthcare monitoring. The potential of wearable payment devices like smart watches, wrist bands, key chains and fitness trackers is reflected in market research results. ABI Research, for example, expects a booming global market for wearable device shipments – reaching more than 500 million units by 2021 while 20 per cent of these devices are expected to be connected with a payment, transport or access control application.
The new SECORA Pay W for Smart Payment Accessories (SPA) is optimized for card manufacturers and Original Equipment Manufacturers. It comes with unique antenna designs that are based on Infineon’s extensive semiconductor and module expertise. Combining a profound understanding of the payment ecosystem as well as expertise in contactless and energy-efficient chip design, Infineon enables fast and secured contactless payment with transaction speeds of 300 milliseconds and below.