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Payment wristband to be tested in Canada

Media | 11/10/2014 6:23 pm EST

Toronto-based wearable technology maker Bionym is partnering with the Royal Bank of Canada and MasterCard for a Canadian test of wristbands that act as payment tools. Kurt Bartlett, a spokesman for Bionym, said in an email that the pilot project will launch before the end of this year.  He said the product, called the Nymi Band, will identify a user through their unique heart rhythms and allows users to pay with contactless payment technology similar to what is used in credit cards and other mobile payment cards. Bartlett said users will be attracted to the "security and...