Heritage supports new wearable device from fintech that enables tap-and-go payments

Heritage Bank has cemented its position as an Australian leader in the payments sector by partnering with Sydney fintech company Inamo Pty Ltd to help launch a new wearable device for tap-and-go payments.


The CURL is a new waterproof wearable launched this month that can be attached discretely and securely to most watch bands, fitness bands, keyrings, or just about any other device or jewellery.


It enables the wearer to enjoy the freedom and convenience of tap-and-go payments wherever Visa payWave is accepted. Inamo’s future vision is to enable people to use their CURL for other functions including public transport, building access, ticketing for festivals, and gym memberships.


The CURL is the only solution globally that enables a consumer to use it for wearable contactless payments, comes with the ability to create a personal identification number (PIN) for purchases over $100, and comes with a 16-digit primary account number (PAN) and three-digit security code that can be used for online purchases.


Inamo CEO Peter Colbert invented the CURL after he went surfing one day and realised he didn’t have any money with him to pay for a coffee with friends afterwards.


Mr Colbert applied his engineering background and 15 years’ experience in the fintech payments industry to develop a solution givbing people on the go an easier way to pay.


“The CURL stands for three things: freedom, convenience and peace of mind,” says Mr Colbert.


“Currently consumers are shackled to their phones, wallets or payment cards, and that doesn’t suit people who want to do activities such as run, swim, or cycle

“The CURL works just like your credit or debit card which means you can trust it to work. As an added benefit, using the CURL for payments is faster and more convenient than digital mobile payments.”


Heritage Bank acts as the Authorised Deposit-taking Institution (ADI) for the CURL product, holding all monies loaded onto the devices and overseeing settlement as the CURL is used and then reloaded.


CEO Peter Lock said Heritage Bank had developed unrivalled expertise in the area of cards and virtual payment technologies in Australia, now partnering with some of the country’s most iconic companies to develop payment solutions for their products.


In fact, Heritage Bank is the largest issuer of pre-paid cards in Australia, and in particular issues around half the travel cards in the country.


Companies including Qantas, Optus and Australia Post have chosen to work with Heritage Bank to deliver a range of products that use pre-paid card and virtual payment technologies.


Inamo and the CURL now join that list and extends Heritage’s reputation for leadership in the sector.


Mr Lock said: “The payments industry is rapidly changing and we are seeing more and more consumers who want alternatives to traditional methods of payment.


“The Inamo CURL gives people the freedom they want and need with the security and peace of mind of knowing that their money will be safe and that the transaction will go through.


“Heritage has earned a reputation as a key player in the cards and virtual payments field and the go-to provider for companies like Inamo who need payments expertise to power their products.”


The CURL features a small rubber case with two flexible loops on either side. An NFC prepaid chip is securely inserted inside the case and the loops then fit snugly over a watch band, fitness band or another secure item such as a necklace or keyring. To pay, a consumer holds the CURL over a Visa payWave machine and the transaction happens immediately, just as it would with a standard credit or debit card.

The CURL is pre-loaded with funds by its owner though an online account or via a mobile app and operates as a debit card. If the CURL is lost or stolen, the account can be immediately suspended or cancelled.


The CURL will sell for $19.99, plus an account keeping fee of $5 per month. An initial, limited allotment of the product will be available in January; pre-orders can be made via Inamo’s website at www.inamo.com. 

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