If you think UPI is the pinnacle of seamless payments, you might be up for a surprise. A new microchip implant lets people pay for things using just their hands.
Using near-field communication or NFC, a technology company called Walletmor is chipping people to make payments faster and contactless. Last year, the British-Polish firm became the first to offer implantable payment chips on sale.
The chip weighs less than a gram and is slightly bigger than a grain of rice. The paraphernalia includes a tiny microchip and an antenna that wrapped in biopolymer – a material similar to plastic.
Is the implant safe?
According to Walletmor’s founder and CEO Wojtek Paprota, the implant is completely safe, has all regulatory approvals, and works immediately after being implanted. The chip stays in place firmly without requiring a battery or any other power source.
So far, about 500 implantable chips have been sold by Walletmor. The NFC tech that the chip runs on is different from traditional radio-frequency identification (RFID) – a mechanism used in contactless debit and credit cards.
This Company's Hand Microchip Implant Could Redefine How We Pay For Services| India Times