Bionym’s Heartbeat Authentication For Smartwatch Mobile Payments

VENTURE BEAT - Nov 3 - The company along with Mastercard will test the use of wearable devices to authenticate and execute “contactless” mobile payments in a multi-bank pilot program in Canada starting this year. The card-issuing banks will put the near field communication (NFC) chip normally baked into contactless credit cards into Bionym’s Nymi wristband. The Nymi band uses the wearer’s unique heartbeat to verify that he or she is the real card holder.