Concept: UK-based fintech company Digiseq has associated with Netherlands-based payment wearables creator AdornPay to launch wearable payment products across the Dutch market by leveraging Digiseq’s contactless payment technology. The partnership aims to combine fashion and functionality to introduce ethically produced wearable items, allowing users to pay for their purchases quickly and securely. It also allows for the delivery of a variety of applications, including access control, health credentials, transit, and loyalty.
Nature of Disruption: AdornPay uses recycled silver and gold to create wearables such as watch straps, key rings, key fobs, and bracelets. It manufactures its sustainable wearable devices with naturally tanned chemical-free leather. Digiseq’s contactless payment technology allows users to install a chip inside the wearable item, allowing them to make payments just like a contactless card while benefiting from the security of Near-field communication (NFC)-enabled mobile payments. Digiseq also provides its Manage Mii mobile app, which enables customers to register and activate their own devices. The app can also be white-labeled with the client’s branding, making it an invisible payment partner.
Outlook: Combining contactless payment convenience with a secure digital identity to protect against lost and stolen cards, fraud, and ID theft results in an all-in-one payment solution that goes wherever the user goes, with no personal identification number (PIN) required and real-time tracking for added security. It ensures that financial transactions are performed efficiently while maintaining user experience. Digiseq and AdornPay’s collaboration entails the introduction of wearable payment products that benefit brands looking to reduce costs and incentivize more daily transactions. Digiseq boasts that the Roland-Garros tennis tournament, designer Philippe Starck, and ABN Amro leverage its technology.