Everlink Payment Services Inc., a provider of payment solutions & services for credit unions,banks and ISO’s in Canada announced today that it has completed a proof of concept market trial for its latest debit card innovation – DebitWear. DebitWear is a contactless-only, debit card form factor that uses the same EMV and Near Field Communication (NFC) technology currently being used for Interac Flash™ enabled cards. With DebitWear the “debit card” is carried in a fun, wearable, form factor – such as a wristband – and can be used wherever Interac Flash payments are accepted.
For the trial, Everlink has provided participating credit unions with a silicone wristband that holds an Interac Flash enabled mini-tag containing a standard Multos ML4 chip (the same chipset found in Everlink’s dual interface cards). These mini-tags are essentially smaller versions of Everlink’s existing Interac Flash enabled debit card, utilizing the same tap-and-go technology and advanced security features.
Mark Ripplinger, President & CEO of Everlink says- “The growing acceptance and use of NFC for credit and debit card payments in Canada has opened the door for wearable card-based payments,” He explained that “Everlink’s DebitWear™ gives cardholders the choice to pay for smaller value items quickly and securely by simply ‘flashing’ their wristband over a contactless point-of-sale device that supports Interac Flash™. DebitWear™ form factors are ideal for any situation where it may not be convenient to carry your wallet and pull out your debit card. This includes when you’re at the beach and need to buy more sunscreen or at a sporting or music event where you want to buy souvenirs and refreshments, but would prefer to leave your wallet securely locked away. ”
In addition to the wristband and mini-tag combination, Everlink is testing additional form factors in order to provide financial institutions with the technology that best suits the needs of their cardholders. These include contactless-only “stickers” that can be placed on the back of a mobile phone or other device. These contactless stickers, as with the min-tag, also contain a standard Multos ML4 chip.
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The convenience of not having to insert a card and enter a pin as in the case of regular debit cards is an added advantage apart from all the benefits of contactless payments and ensures speedy transactions.
Everlink has worked closely with its bank and credit union clients towards innovative payment solutions and introduced several pilot programs previously including the Mobile Interac Flash™ pilot involving executives from credit unions across Canada. Apart from their well established Payment Network Gateway, Everlink also offers a diversified range of integrated payments Lines of Business including: ATM Managed Services, Card Issuance & Management, Fraud Management, POS Acquiring and Professional Services.
(image credit: COM SALUD)