Payments

Everlink is Coming Up with an Interac Flash Enabled Wearable Payments Solution

Everlink Payment Services Inc. today announced that it has completed a proof of concept market trial for its latest debit card innovation – DebitWear. DebitWear is a contactless-only, debit card in a new form factor that uses the same EMV and Near Field Communication (NFC) technology currently being used for Interac Flash enabled cards. With DebitWear the “debit card” is carried in a wearable form factor – such as a wristband – and can be used wherever Interac Flash payments are accepted.

For the trial, Everlink has provided participating credit unions with a silicone wristband that holds an Interac Flash enabled mini-tag containing a standard Multos ML4 chip (the same chipset found in Everlink’s dual interface cards). These mini-tags are essentially smaller versions of Everlink’s existing Interac Flash enabled debit card, utilizing the same tap-and-go technology and advanced security features.

everlink wearable

In addition to the wristband and mini-tag combination, Everlink is testing additional form factors in order to provide financial institutions with the technology that best suits the needs of their cardholders. These include contactless-only “stickers” that can be placed on the back of a mobile phone or other device.  These contactless stickers, as with the mini-tag, also contain a standard Multos ML4 chip.

DebitWear cardholders continue to have the convenience of contactless payments, with all of the security and benefits of EMV, but without the need to insert a card and enter a PIN. This innovation increases the speed and convenience of consumer checkout without sacrificing security.

Everlink continues to work closely with its bank and credit union clients to bring innovative new payment technologies to market. In early 2014, Everlink, Interac, and Credit Union Central of Canada (CUCC) completed a Mobile Interac Flash pilot involving executives from credit unions across Canada. Everlink provided the pilot participants with the ability to conduct Mobile Interac Flash debit transactions quickly and securely at Interac Flash accepting merchant locations across Canada, utilizing the NFC capabilities of an Android smartphone.

Everlink Payment Services is one of the leading providers of comprehensive, innovative and integrated payments solutions and services for credit unions, banks, and independent sales organizations across Canada. In addition to supplying best-in-breed technology infrastructure and payment network connectivity via its well established Payment Network Gateway, the company offers a diversified range of integrated payments lines of business including: ATM Managed Services, Card Issuance & Management, Fraud Management, POS Acquiring and Professional Services.

Kate

Kate is a staff writer at LetsTalkPayments.com., , She likes to write about mobile payments and mobile commerce.

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