PayPal Demos RFID Payment Bracelets

cash moneyPayPal is promoting new contactless payment bracelets custom-designed for concerts and festivals.

The bracelets use RFID technology to enable the cashless payments; users simply need to link their PayPal accounts to the devices and they are off and running. It’s a novel solution aimed at making it easier to buy food, merchandise and other products without having to carry one’s whole wallet around at a major concert, music festival, or other such event. The company roped in Spanish vlogger Yellow Mellow to try out the device at the BIME Conference & Festival in Spain this year, and documented her experience in a video posted online.

PayPal isn’t the only financial services company experimenting with this kind of technology. This past summer, Barclays bank division Barclaycard announced new contactless devices including a wristband, as well as a sticker and a fob. Meanwhile, given its compatibility with the Apple Pay mPayment platform, the Apple Watch offers another similar alternative, and one that could become more widespread in the future.

Even if this is just a niche area, PayPal’s foray into it is indicative of the breadth of its aims, with the company having indicated that its ambition is to lead the digital revolution sweeping all aspects of the payments industry.