Mark of the Beast | Barcelona's La Caixa to Offer a Payment Wristband

Back in June we reported that Barclays Bank was going to begin offering a new contactless payment system. They were going to offer a wristband that is wearable credit card. It would contain a chip with your banking information and near field communication. Now Spain's CaixaBank, is also going to be offering a payment wristband. CaixaBank is a large financial services company that is owned by La Caixa. A Catalan savings bank with headquarters in Barcelona, it is one of the largest banks in Europe. 

With wearable technology like this and other contactless payment schemes, it is easy to see that all the pieces are in place for the mark of the beast. If the wearable technology is replaced with a device attached to the hand or the forehead in a cashless society, then it will no longer be possible to buy or sell without it. Cashless technology, like biometrics, is sweeping the world.

Spanish Bank CaixaBank Prepares for Wearables with NFC Payment Technology

CaixaBank, Spain’s most innovative financial services provider, will be using NFC contactless tags for their commercial launch of contactless EMV payment wristbands. These novel wearable banking devices, certified by the international payment schemes, give CaixaBank customers the freedom and security to pay everywhere they go, without the need to carry a purse or wallet.

By design the Optelio Contactless MiniTag supports contactless EMV transactions, which can be performed at more than 300,000 payment terminals across Spain. CaixaBank started distributing preliminary volumes of wristbands to their contactless card users this summer. From October onwards, the wearable payment device will be available with a new design at all office branches. Customers will be able to choose between different colors, and to contract them through the traditional channels.

The CaixaBank wristband is water resistant and durable, it is therefore ideally suited to the outdoor, summer lifestyles of Southern European consumers. The Optelio Contactless MiniTag, inserted in the wristband’s slot, is linked to the user’s existing payment card. It offers exactly the same security standards as a regular contactless EMV card. The Optelio Contactless MiniTag allows payments of up to 20 euros with just a tap, and higher value transactions require entering the user’s PIN code.

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