Digital banking and payment processing firm i2c has partnered with Purewrist, a FinTech working in end-to-end contactless payment solutions and wearables, according to a press release.
The partnership will allow i2c's platform to be used with transaction processing of tap-and-go payments made from Purewrist's GO wearable at near-field communication (NFC) contactless readers, the release stated.
Purewrist GO works with any terminal accepting Mastercard debit, which works as a companion piece to a standard plastic card or digital payment account.
With the partnership, both companies plan to offer a new option for clients and consumers to make use of wearable payment technology that the release touted as "affordable, accessible and sanitary." And because i2c offers a global platform, Purewrist now has access to a quick way of getting its products out.
“We were seeking a partner with a shared vision of flexible, reliable and globally scalable payments experiences,” said Ari Gardiner, co-founder of Purewrist, in the release. “We chose i2c because of their longstanding reputation and single global platform, a necessity for us as we continue our global expansion. They are deeply committed to helping bring ground-breaking solutions to market quickly, have a demonstrated track record of platform availability, and offer a level of flexibility we can count on to pioneer new and exciting ways to enrich the lives of our customers.”
Meanwhile, i2c President Jim McCarthy praised the "convenience" of the Purewrist product and said part of the appeal would lie in its "eye-catching and functional" nature, according to the release.
The pandemic has fundamentally changed the way consumers shop. They're more likely to use digital payments and have been choosing where to shop based on what digital payments options are available. Many are not inclined to go back to normal as they expect the pandemic to last at least another 11 months.
