Gemalto and CaixaBank launch contactless payment wristbands in Spain

  • Posted by Talking Payments
  • October 28, 2014 10:59:23 AM GMT
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Gemalto has partnered with Spanish bank CaixaBank to supply its contactless payment solution.

The Optelio Contactless MiniTag is a wearable banking device designed by digital security specialist Gemalto, and is equipped with contactless technology for its user. Through teaming up with the bank, Gemalto will allow CaixaBank’s contactless card owners to make payments by simply holding the wristband against a contactless terminal, a move it hopes will enable the consumer to travel without carrying a wallet, while still being able to purchase products when they please. 30,000 payment terminals across Spain will process transactions made from the device, with both companies believing its customers will appreciate the new level of convenience that has been offered to them.

Philippe Cambriel, President for Europe, Mediterranean and CIS at Gemalto, commented: “The wearable devices market is booming, with around 70 million units projected to be sold in 2017. In line with this major global trend, CaixaBank’s new product launch re-enforces their pioneering spirit, well proven in providing innovative technologies such as contactless cards, mobile services and now wearable devices, so as to always offer their customers the payment method that best fits their needs.”

The wristbands will be linked to the customer’s bank account, allowing them to make contactless payments of under 20 euros without having to enter their PIN.