First West Credit Union has introduced the Dashband, a wearable payment wristband that comes equipped with Visa PayWave technology to allow wearers to make contactless payments.
“Using PayWave, the Dashband eliminates the need to use cards, signatures or PIN numbers for purchases,” First West explains. “To make a purchase, the band needs only be placed near or tapped on a contactless payment terminal. Reloading the band with funds can be done simply through the credit union’s online banking portal.
“First West is unveiling the band in a limited release as it explores ways to bring innovative banking solutions to its membership and the marketplace.”
“We’ve been tracking the tap-and-go payment trend from the start and it’s clear that contactless payment is becoming an expectation of consumers,” says Doug Ebner, lead innovation architect at First West. “For us, it’s an opportunity to create more convenience and ease for our members when it comes to payments.
“We’re now at the point where wearable technology is evolving into experiments with multi-purpose accessories like Apple Watch. But we believe there’s a need for a simpler, more straightforward payment accessory that meets the needs of busy people everywhere and for which the only requirement is a bank account.”