Hand-implanted microchip could change contactless payments

Fox Business Flash top headlines for April 18

Check out what’s clicking on FoxBusiness.com. 

"Cash in hand" could soon take on a whole new meaning as a tech company has found a way for shoppers to utilize a contactless payment system via a microchip that is implanted into their hands.

Walletmor, a London-based company, has developed the Purewrist app, a digital wallet that pairs with a microchip that users can allow a specialist to install into their hands, Fox 10 of Phoenix reported.

AMD RETURNS TO DEAL MAKING WITH $1.9 BILLION PURCHASE OF CHIP SPECIALIST PENSANDO

The app, along with the microchip, would allow users to make contactless payments to businesses that also use the app, the company said, according to the report.

Hannes Sjoblad, director of DSruptive Subdermals, holds an implant between his fingers in Stockholm on December 20, 2021. (Photo by VIKEN KANTARCI/AFP via Getty Images / Getty Images)

The implant process, which the company claims is safe, costs $299 and the device may be used for everyday visits to local grocery stores, purchases at coffee shops, or anywhere else, the company says on its website.

"The implant can be used to pay for a drink on the beach in Rio, a coffee in New York, a haircut in Paris – or at your local grocery store," founder and chief executive Wojtek Paprota said in a statement to the BBC. "It can be used wherever contactless payments are accepted."

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Contactless payment systems have become more common in grocery stores and businesses, usually used via a microchip installed in a credit card or via a phone app. Both Apple and Android have contactless payment options.

FILE – In this March 14, 2017, file photo, Jowan Osterlund from Biohax Sweden, holds a small microchip implant, similar to those implanted into workers at the Epicenter digital innovation business center during a party at the co-working space in cent (AP Photo/James Brooks, File / AP Newsroom)

Source: Read Full Article