Heritage Bank has stolen a march on larger rivals with a customer trial of a wearable payments device that links directly to a transaction account.
“But our digital innovation doesn’t stop there. As well as our new wearable device, we’ve also developed our own mobile phone contactless payment app, have just released a newly updated internet banking platform, and we’re currently upgrading all of our branches with new more digitally-focussed designs.”
Key information about Heritage’s wearable band:
The band uses the same “tap and go “contactless technology as Visa Debit cards with a chip securely inserted inside.
Just like any other payWave transaction there is a $100 limit, although wearers can still use the band for transactions above that amount by entering a PIN.
The payment band can be used wherever Visa payWave is accepted, in Australia or overseas.
The band is linked to a customer’s everyday transaction account and operates as a Visa Debit card.
If the wristband is lost or stolen, the account can be immediately suspended or cancelled through the Heritage Bank mobile banking app, by visiting a branch or calling the contact centre.