Bringing money along on outings isn’t exactly strenuous but it can be a drag when those outings are tubing down a river, hiking or cliff-jumping at a local swimming hole – outings where a stop for ice cream or a pint of beer is likely.
Payment Wearables For On-the-Go Purchases
In cases like that, DirectCash Payments Inc. wants you to “leave it all behind.” That’s the slogan behind the company’s new DC TAG, a prepaid contactless payment wristband.
The wristbands can be purchased online for $9.95. Users can load up to $500 onto the wristband’s chip (or “tag”), which they can then tap to pay at any terminal bearing the Visa payWave logo.
Prepaid Security Technology
The adjustable wristband is fairly slim, available in six different colours and features not-so-subtle Visa and DC Tag logos. It’s durable, waterproof and doesn’t require a PIN number. The company is keen to point out the security features of the wristband — because any money on the tag is prepaid, it isn’t connected to your bank account and transactions are limited to $50 to $100 (depending on the merchant), making it much less of a theft-magnet.
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Would You Wear Your Wallet?
While DirectCash Payments Inc. is touting DC Tag as Canada’s “#1 payment wristband,” it remains to be seen whether consumers actually want another wearable to consider. An August report by Argus Innovations shows that consumer interest in wearables — at least in the U.S. — has waned since a peak in late 2014, though the upcoming holiday shopping season could inspire another spike.