News

Woolet Wallet Connects By Beacon With Owner

With the launch of the Woolet wallet, Siri might not be the only voice talking back to the iPhone user, but also the smart wallet telling its exact location.

The soon-to-be released smart wallet promises to notify the user of its exact location with a whoof-whoof as soon as the user forgets the wallet at home or at any countertop in a store. Woolet would come with an embedded beacon, which would buzz the phone as soon as the phone moves out of a user specified range that can be set between 20 to 85 feet.

The beacon enabled wallet, which has been designed and developed by Woolet.co is engineered into a 9.9 mm thin wallet made of handcrafted leather with an ability to connect with cloud-based, third-party apps and services. Despite its slim design, the wallet stands capable of holding IDs, larger banknotes and credit cards.

Unlike Siri, the wallet doesn’t require the user to charge up the juice for it to talk. The wallet is powered by self-charging batteries, which live for a guaranteed 1.5 years and can be charged wirelessly. The company is currently testing to charge batteries from user’s body heat and movement.

The wallet’s beacon works symbiotically with the iPhone or any other Android based phone, thus eliminating situations where a user might be carrying the wallet, but has forgotten the phone. As soon as the wallet moves out of the pre-set range from the associated phone, it buzzes to remind the user of the phone.

But then there’s always the classic problem of the wallet slipping out of the user’s pocket. The company is promising to even resolve that with its “crowd-detection” service, which kicks in as soon as the user realizes its absence. Synced with the phone, the app constantly records the wallet’s location and send out the precise location to other Woolet users in the area to help start looking for the wallet.

The company, which is currently seeking crowdfunding for its launch, plans on selling a range of other beacon based products like key finder, mobile sleeves and a RFID blocker card sleeve, which prevents any reader from extracting card details from a wallet. Once released, Woolet will initially be offered for $119.

 

——————————–

Latest Insights: 

The Payments 2022 Study: Building A High-Performance Payments Team For Fraud Detection, a PYMNTS collaboration with Stripe, examines how digital platforms of all sectors and sizes plan to develop their anti-fraud teams as part of their their broader growth and development strategies. Drawing from an extensive survey from approximately 250 payments heads at digital platforms in the U.S. and abroad, our study analyzes how poor anti-fraud capabilities can harm platforms’ long-term growth strategies, and how they can build high-performing teams to tackle these challenges.

Click to comment

TRENDING RIGHT NOW

To Top