Re: who will win in mobile payments?

It can be done with a smartcard chip inside the wearable.
These cost around $2 and go down in cost with volume.

I've had visions of money being transferred over a handshake, or
a complex negotiation happening over a round of arm-wrestling :)

The software can be complex - crypto, signatures, fraud detection,
analytics.
But getting an interesting form factor (not like a credit card) would
be a great step forward.

See here -
http://www.cardwerk.com/smartcards/smartcard_technology.aspx
http://szykdcard.en.alibaba.com/product/60242776579-213423439/Contactless_smart_card_125khz_em4100_compatible_with_low_cost.html

About your app, it is interesting. Are you using MIDI ?

On Thu, May 21, 2015 at 6:07 AM, Arun Mehta <[email protected]> wrote:

> Its the money, stupid. Someone is going to create that app, that hardware,
> get the right backing, and we will stop carrying all those coins, notes and
> even credit cards around. Is this the right direction? It seems to need the
> phone to be around, which is a bummer. Just a band around the wrist -- I
> could see myself wear that. It should work without the phone being around
> too -- that way the masses could afford it.
>
> Which of you wears a wrist band, or is developing technology around it?
> I've written a free app, Quartet, that converts phone movement into music
> and graphics -- I'm looking at  the wearables now.
>
> Arun Mehta
>
>
> http://timesofindia.indiatimes.com/tech/tech-news/Xiaomi-Mi-Band-wearable-to-support-mobile-payments/articleshow/46793726.cms
> Xiaomi Mi Band wearable to support mobile payments
>
> Xiaomi and Ant Financial, an Alibaba affiliate which includes China's most
> popular online payment service Alipay, will enable the Alipay Wallet mobile
> app to link with Xiaomi's Mi Band smart fitness bracelet. That will let
> users smooth the process of making payments, bypassing the need for
> passwords.
>
>
>
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