Everlink announces DebitWear™ – an Interac Flash™ enabled wearable payment solution
Posted on 21 March, 2015 in Category
Everlink Payment Services Inc. today announced 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.
“The growing acceptance and use of NFC for credit and debit card payments in Canada has opened the door for wearable card-based payments,” says Mark Ripplinger, President & CEO of Everlink. “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.
With DebitWear™ cardholders continue to have the convenience of contactless payments, with all of the security and benefits of EMV, but without the need to insert a card and enter a PIN, which increases the speed and convenience without sacrificing security. DebitWear™ is simply the next evolution of the debit card.
Everlink continues to work closely with its bank and credit union clients to bring innovative new payment technology to the market. In early 2014 Everlink, Interac and Credit Union Central of Canada (CUCC) completed a Mobile Interac Flash™ pilot involving executives from credit unions across Canada. Everlink provided the pilot participants with the ability to conduct Mobile Interac Flash™ debit transactions quickly and securely at Interac Flash™ accepting merchant locations across Canada using the NFC capabilities of a smartphone running the Android operating system.
Everlink Payment Services Inc. is a leading provider of comprehensive, innovative and integrated payments solutions and services for credit unions, banks, and independent sales organizations across Canada. In addition to supplying best-in-breed technology infrastructure and payment network connectivity via our well established Payment Network Gateway, we offer a diversified range of integrated payments Lines of Business including: ATM Managed Services, Card Issuance & Management, Fraud Management, POS Acquiring and Professional Services.
For more information, visit www.everlink.ca