Load money onto your Purewrist bracelet, then tap & go to make simple and secure contactless payments for public transit, coffee, groceries, and more – without ever touching cash or cards
NEW YORK and SAN FRANCISCO, Sept. 17, 2020 (GLOBE NEWSWIRE) -- Purewrist, a provider of end-to-end contactless transaction solutions as a prepaid card program manager and wearable technology developer, today announced the launch of a new mass market wearable, Purewrist GOTM. Purewrist GO is a stylish and comfortable bracelet that allows safe and secure contactless payment transactions, empowering consumers to take advantage of a simple wearable payment device without the need to touch cash or a card again. It is supported by the all new Purewrist payment platform and mobile application.
The Purewrist GO wearable delivers style, simplicity and affordability to the U.S. mass market. Retailing at only $25, users receive a color-customizable bracelet, contactless Mastercard® prepaid card, account activation, and a pre-loaded amount of $10, $25, or $50. Upon receipt and activation of the Purewrist bracelet, pre-loaded funds are immediately available for purchases at establishments with NFC-enabled contactless readers, such as retail stores, restaurants, mass transit and more. Purewrist GO account holders may access their PIN-protected Mastercard account card number in-app, which is further masked for security to complete online transactions.
Users can upgrade their bracelet at any time to an FDIC-insured, personalized reloadable account at no extra cost after completing identity verification. Reloadable accounts are funded through an existing bank account or credit/debit card and offer an option for automatic reload for convenience.
“We’re excited to launch not only Purewrist’s innovative contactless, wearable payment solution Purewrist GO, but also our expanded platform that empowers consumers across North America. While adoption of contactless payment solutions has been on the rise due to its convenience, the recent COVID-19 pandemic has made it clear that a greater need exists for safe contactless transactions at retailers and for Smart Mobility in public transportation,” said Suresh Palliparambil, CEO of Purewrist. “In addition to its public health benefits, contactless payments offer a sense of ease as more consumers seek to enhance their shopping experience. With Purewrist, consumers can safely purchase and travel with just the tap of a wrist, while merchants provide shorter wait-times for customers and added safety to their employees.”
The waterproof bracelet is made from an ultra-durable silicone material that is easy to clean and disinfect - no batteries necessary. It meets strict payment-industry security standards and ID theft protection by leveraging NXP Semiconductor’s leadership position in NFC technology. With each bracelet, Purewrist offers a free companion mobile application and online portal that allows the user to check their balance, view transactions, manage limits, customize reload preferences, set alerts and lock their wearable if it is lost. Most importantly, consumers can feel good about their purchase, as ten percent of the net profits will be donated to charity through the GratitudeTM give back program.
“NXP is proud to work with Purewrist to bring this exciting wearable payment solution to market,” said Alasdair Ross, Head of Marketing of Secure Payments at NXP. “2020 had seen unprecedented change in the dynamics of the payment market, most notably the surge in consumer demand to pay contactless. Purewrist GO addresses this demand with a solution that is innovative, secure, and convenient.”
Purewrist GO is the flagship consumer product of the larger Purewrist platform. The fintech platform provides not just a wearable, but an end-to-end program and technology experience with reloadable prepaid accounts that can be used anywhere Mastercard Debit is accepted. The Company offers solutions for businesses, individuals and families alike with the option to create accounts for employers to distribute financial benefits and rewards to employees, or for parents to automate the amount and frequency of allowance to children and instill values of financial responsibility at a younger age.
“Purewrist is more than just a wearable, it is a complete fintech solution with endless possibilities. We’re bringing a more affordable solution to the mass market to make contactless payments more accessible,” said Ari Gardiner, co-founder of Purewrist. “We are involved in and touch upon so many areas of the fintech space that we can give our customers a simpler experience without compromising safety and security. Most importantly, with every single transaction, we’re able to realize a core founding principle of Purewrist to give back to our communities and the charities we care about.”
Based in New York City and San Francisco, Purewrist is an innovative fintech platform and provider of end-to-end touchless transaction solutions as a prepaid debit card program manager, issuer, and wearable technology developer. Purewrist Contactless payment accounts are issued by Sutton Bank, Member FDIC, pursuant to a license by Mastercard International Inc. Purewrist’s wearable technology offers both full EMV security and interoperability for the banking, retailing, hospitality, event venue ticketing, access control and customer loyalty industries. To learn more, please visit our website: www.purewrist.com.