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US Bank launches contactless payment wristband
26 Jul 2011

US Bank has announced the launch of a new contactless payment wristband for customers across its network of branches.

The MasterCard PayPass VITAband allows individuals to make payments of less than $50 (£31) by tapping the device against a specially developed reader.

Currently being tested by members of staff at the US Bancorp subsidiary, the wristband contains a radio frequency identification chip to enable people to make purchases.

In addition, the device carries a unique eight-digit code linking the wearer to a profile containing their medical information and identity.

Beth Blaisdell, Senior Vice President for US Bank Payment Services, said: "US Bank MasterCard PayPass VITAband is great for sports enthusiasts or people who are on the go and don't want the hassle of carrying cash and identification."

According to Near Field Communications World, a similar service has been launched in Slovakia, where contactless stickers can be attached to the back of a mobile phone to give individuals access to funds without use of a PIN.