Launched on Indiegogo last week, PureWrist is a fashionable silicone bracelet that contains an embedded NFC payment chip that lets you go through life without Apple Pay.
The chip inside the bracelet is powered by the same technology found in Apple Pay and NFC-enabled credit cards. This allows PureWrist to be used to as a form of payment anywhere that accepts contactless payments including McDonalds, Target, and soon Square readers.
Each bracelet is linked to a prepaid debit card, which is licensed by MasterCard and issued by Sunrise Bank. This means all deposited funds are stored in an FDIC-insured account and users are provided with an online banking portal to easily check their balance and reload funds.
While the product doesn’t come with an actual plastic debit card, the company says each user will be provided with their 16 digit card number so they can use the prepaid account for online purchases.
PureWrist also has a socially conscious aspect, donating 20 percent of their Indiegogo campaign’s net profit to The Leukemia & Lymphoma Society.
Besides the cost of the bracelet itself ($40), PureWrist will charge a $4.99 monthly subscription fee that will be automatically debited from the user’s prepaid account. The device is scheduled to ship this September, and is available for preorder on Indiegogo now for an early-bird price of $30.