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Purewrist launches mass market contactless wearable in US

By Sunniva Kolostyak

September 17, 2020

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Purewrist, a contactless transaction provider, has unveiled Purewrist GO, a contactless payments bracelet aiming to allow the mass market to complete transactions without having to touch cash or cards.

Suresh Palliparambil, CEO of Purewrist
Suresh Palliparambil, CEO of Purewrist

The Purewrist Go, which is connected to a contactless Mastercard prepaid card, is allowing consumers in North America to pre-load funds through a mobile application and immediately complete purchases using NFC-enabled contactless readers.

Through the app or the online portal, account holders can access their PIN-protected Mastercard account card number, check their balance, view transactions, manage limits, customise reload preferences, set alerts and lock their wearable if it is lost. They can also upgrade their bracelet at any time to an FDIC-insured, personalised reloadable account at no extra cost after completing identity verification.

The bracelet uses the Purewrist payments platform, and reloadable accounts are funded through an existing bank account or credit/debit card which also offers automatic reload.

Speaking to IBS Intelligence, Suresh Palliparambil, CEO of Purewrist, explained that the waterproof bracelet is made from a silicone material which is easy to clean and disinfect, with no batteries. It leverages NXP Semiconductor for the NFC solution.

“While adoption of contactless payment solutions has been on the rise due to its convenience, the recent COVID-19 pandemic has made it clear that a greater need exists for safe contactless transactions at retailers and for Smart Mobility in public transportation,” Palliparambil said.

“In addition to its public health benefits, contactless payments offer a sense of ease as more consumers seek to enhance their shopping experience. With Purewrist, consumers can safely purchase and travel with just the tap of a wrist, while merchants provide shorter wait-times for customers and added safety to their employees.”

Purewrist GO wearableThe Purewrist CEO added that consumers can also use the wearable to pay on contactless and open loop payments-supported transport systems across North America, including the New York subway.

“We already see the service system being used by several New York residents already, and as the city opens back up and gets back to hundred per cent [capacity], we are expecting more and more people wanting to use a product like Purewrist, that is safe and secure, in their everyday lives.

“There are several cities in North America that are now accepting open loop payments, the concept of bring your own device to tap and pay. So we are positioned very well in every city and every transit system in North America that accepts contactless payments.”

Ten per cent of Purewrist’s net profits will be donated to charity through the Gratitude give-back program.

Also commenting, Alasdair Ross, Head of Marketing of Secure Payments at NXP, said: “2020 had seen unprecedented change in the dynamics of the payment market, most notably the surge in consumer demand to pay contactless. Purewrist GO addresses this demand with a solution that is innovative, secure, and convenient.”

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