If you think paying with your fingerprint is innovation, wait until you hear about this!
Canada’s Nymi, in collaboration with TD Bank Group and MasterCard, have announced the successful trial of the world’s first biometrically authenticated, wearable credit card payment using the user’s heartbeat.
The Band, which is essentially a wearable credit card identifies a user based on their unique heartbeat through a technology Nymi calls HeartIDTM. The heart electrical activity is unique to each individual which allows the band to register a ‘Heart ID’ which is then used as an authenticator to make payments via NFC.
Nymi is testing the band now with around a 100 Canadian Mastercard users and are expected to roll out the trial to other banks later this year.
https://www.youtube.com/watch?v=1-xC4DorC6Y
Nymi’s goal is to fundamentally change the way authentication is treated and to move industries towards a more secure and convenient identity model. By working with partners like TD and MasterCard, we are effectively demonstrating that continuous authentication can be a more secure and convenient way to make retail payments, said Karl Martin, Nymi’s Founder and CEO.
Awesome stuff, what do you think? let us know in the comments section below.
