Despite 2015 failing to be the year of wearables, the FinTech industry is already on the look out for the next big thing in making payments more convenient.
One such concept are ‘tech-tats’. The future of payments lies not in wearables. but ‘bio-wearables’, said Ben Lamm, CEO of Chaotic Moon, a Texan software design and development company.
“Our exploration into the use of skin-mounted components and conductive paint to create circuitry that lives on the human body in the form of a tattoo that has the capability to collect, store, send and receive data,” the creative agency said in a statement.
The process doesn’t appear to be invasive due to the use of paint that can conduct electricity. The applications of this concept are numerous with the company particularly focusing on the medial and banking capabilities.
“Tech Tattoos take over and disrupts the market in the banking in the banking industry,” said Eric Schneider, creative technologist at the company. “We carry wallets around and they are so vulnerable, with the tech tattoo you carry all the information on your skin and when you want your credit card information, you can pull that up automatically,” he continued in the concept video.
The company says that the main appeal of such a concept is that it eliminates the need to actually hold a device at all times.
The company’s CEO told Vice that the technology uses Bluetooth Low Energy and it could be used to make payments in the style of Apple Pay.
“This would be implemented by securely storing data on a skin mounted micro controller and transferring the data when the user specifies based on a gesture or fingerprint on a tap to pay style device,” Lamm explained in an email to Vice.
The company has yet to announce prices for the ‘tech-tats’, but the idea is to make them accessible immediately.
The new feature appears closer to being fully functional than previous rumours had suggested.
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