Wearable Banking by Mithin from india

The banking of feature will be more of transactions than currencies.

The future will be less intrusive banking to carryon transaction anywhere and at anytime without pulling out a card or a mobile device. The future of banking would be wearable banking.

Bank would provide selected wearable devices such as wristbands, watches, pendant, and rings to the customer with a secure chip, which holds 1 key at a time.

With this device the customer can carry out transaction at any terminal around the corner.

Every time a transaction takes place, the terminal will read the wearable device with a proximity reader and takes the key from the device and sends it for authentication. Once authenticated, the terminal will allow the user to do banking transaction.

The terminals would be designed to validate the device to carry out the transaction. The transaction authentication such as device authentication, fingerprint, and PIN number can be pre defined by the customer.

With the terminal the user can make one on one transaction to the another person, pay bills,

Wearable banking will help in reduce the time of transaction with wearable devices.