Australia Startup Tests Wearable Payments

Australian start-up Inamo is the payments platform behind Visa’s WaveShades, the prototype wearable sunglasses being trialled at St Jerome’s Laneway Festival music events in five Australian cities between 26 January and 5 February.

 

The sunnies, which are designed by Local Supply, can make contactless payments thanks to a secure payment chip, supplied by Inamo, in the arm of the accessory.

 

The WaveShades utilise the same payments platform previously developed for the Inamo CURL, which was launched in December 2016. The CURL is a multi-functional, waterproof wearable that can be attached discretely and securely to most watch bands and fitness bands so the wearer can initially enjoy the freedom and convenience of tap-and-go payments.

 

Commenting on Inamo’s role in the creation of the WaveShades, Inamo’s founder and chief executive officer, Peter Colbert, said, “As an Australian start-up, we are honoured to be invited to provide the payment platform for Visa WaveShades. Using Inamo’s technology in sunglasses is a logical extension of our mission to move people’s wallets to a wearable.

 

“Visa’s WaveShades are a great endorsement of the payments technology platform Inamo has created, which unshackles people from their phones or wallets. We’re also extremely grateful for the support we receive from our partners, OT and Heritage Bank, which make the platform possible.”

 

Oberthur Technologies is a leading global provider of embedded security software products, services and solutions, and ensures the security and integrity of the data exchanged when making payments. Heritage Bank acts as the Authorised Deposit-taking Institution (ADI), holding all monies loaded onto the WaveShades and oversees settlement as they are used and then reloaded. Additionally, Inamo holds an Australian banking licence.

 

Frederique Covington, Senior Vice President of Marketing for Asia Pacific at Visa commented on the purpose behind the pilot: “The financial services environment is evolving at an unprecedented pace, which is exemplified by consumers’ changing relationship with payments. The Visa WaveShades pilot is all about showing Australians that innovation in how we pay can make their lives simpler and everyday experiences seamless and rewarding.”

 

Press Release by Inamo

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