Farewell to cash? Expect it to be a very long goodbye: Don Pittis – Business – CBC News.
An Apple Pay rival created by a Canadian company means that the technology for a secure cashless society is only a heartbeat away, but the question is whether you will be willing to give up all your dollar bills in exchange.
Bionym’s new device, tuned to your individual heart rhythm, is being rolled out with the support of Royal Bank. It’s a wristband called Nymi, and it sounds like a real contender to make you feel safe about using electronic money.
- Royal bank to test out Toronto company’s Nymi technology
- Apple Pay not expected in Canada any time soon
- Tech trends for 2014: wearables, phablets and e-visits
The Nymi concept is fabulous. Royal Bank gets a lot of points for investing in an innovative cashless experiment. The system combines the two rising technologies of wearable computing and biometricauthentication.
But rather than using voice prints, fingerprints or retina scans, Nymi uses the unique pattern of your heartbeat as measured by a small wristband. Royal Bank is getting 250 people to try it tomake sure the system works in practice, with the eventual plan of offering it to all Canadians.
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