Touch payment technologies are continuing to evolve with news that Bankwest customers will now be able to pay for goods and services with the use of a ring.
As previously reported, Bankwest trialled new wearable payment options to around 400 of its staff last year, although at the time it was investigating the use wristbands, key fobs and watch band clips.
However, Bankwest has instead launched what it calls the ‘Bankwest Halo’, a payment ring linked to a customer’s transaction account that functions like contactless card payment.
Representing a “simple and convenient alternative” to card, cash or phone payments, the ring does not depend on mobile apps, does not require any charging, has the same levels of security as the Bankwest Mastercard, as well as around-the-clock fraud protection.
“The team used a mixture of lean, agile and design-thinking, within an iterative test and learn approach,” said Andy Weir, the bank’s executive general manager, technology and transformation.
“It’s been hugely energising and satisfying to see the new ways of working in action, which provides a great test case for our customer-obsessed approach.
“The learnings from this initiative will be shared across all of our multidisciplinary tribes at Bankwest, as we expand our rollout to the new ways of working.”
Bankwest customers will be able to purchase the waterproof ring for $39 in Bankwest branches as well as through the Bankwest website or app.
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