This move starts with the launching of CURL in Australia. The CURL is a multi-functional wearable that will initially enable consumers to make payments by simply tapping their device to any point of sale terminal where Visa payWave is accepted. The action would be the same as with a credit or debit card.
In addition, over the next 18 months the CURL will be available to use for payment on public transport, building access, ticketing for festivals, and gym membership.
OT’s EMV hardware and OS will equip Inamo’s devices. Next generation models will include the use of OT’s embedded Secure Element (eSE) PEARL by OT which not only has the capability to support payment, access control, transport, ID and biometric applications but also ensures security as good as that normally found in EMV payment cards, claims the company.
Under the terms of the agreement, Inamo will provide a full consumer solution which will leverage its own platform and OT’s next generation digital payment enablement solution. The CURL will be sold for USD 19.99, plus an account keeping fee of USD 5 per month.
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