The 2016 Olympic Games kick off in Rio de Janeiro with a payment innovation as the capital’s public transit operator, RioCard has revealed that it will provide residents and visitors with contactless wearable devices that will work on buses, ferries, the subway and trains.
Contactless payments were first introduced in Brazil in 2013, when the capital’s RioCard partnered with Gemalto, Motorola Mobility and the Brazil’s four leading mobile operators – Claro, Oi, Telefónica and TIM, supported by the GSMA.
Not much is different this time round as RioCard has again partnered with Gemalto, which is providing the transit operator with its waterproof contactless wristband and also a contactless sticker both embedded with a contactless chip from Gemalto and certified by Visa and MasterCard enabling all the secure functionalities of traditional contactless EMV cards.
According to the Brazilian Tourism Institute, the capital is expecting to welcome 500,000 visitors and wearable payments are seen by RioCard as one of the ways of reinforcing the transport infrastructure.
“The new RioCard wristbands support our goal to create a more convenient and secure travel experience for all residents and visitors to Rio de Janeiro,” said Cassiano Rusycki, CEO, RioCard.
This strategic push to go contactless has already been adopted by Visa, which announced 100 days ago its intention to instal 4,000 contactless-enabled POS terminals.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.
Lloyds has launched biometric finger print authentication for mobile banking.
Chase, the US consumer and commercial banking business of JPMorgan Chase & Co, has signed a multiyear agreement with Best Buy, that will see the electronics retailer accept Chase Pay in its stores, on BestBuy.com and in the Best Buy app.
Barclaycard has partnered with Case Station, a company that makes personalised phone cases, to embed contactless technology in the latter's smartphone cases.