Implantable payment chips are here -- enabling users to pay for things with a wave of their hand. Is this the wave of the future, or merely a flash in the pan?
There are approximately 17 billion bank cards in current circulation, helping shuttle unthinkable quantities of capital around the world on a daily basis, with little more effort required from customers than a simple swipe or the tap of a payment terminal.
“I thought, ‘Oh my gosh, that’s amazing,’” he said. “There are already things like that on the market, but I’d never seen it done with payments.” Building a prototype Not that there wasn’t a fair degree of experimentation in the path to reach this point. Once Paprota had his initial idea, he turned to Amal Graafstra, a person who had carried out some work in this field, to help him realize the dream. Walletmor’s website describes Graafstra, now the company’s Chief Technology Officer, as the “most respectable person in the smart implants space.” But Paprota nonetheless had his concerns.
The device works using near-field communication technology, the same contactless payment system that’s used in smartphones for the likes of Apple Pay.
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