After NBE introduced its newest NBE Smart Contactless Wearable Wristband from G+D, we witnessed customers’ reviews and comments flood the internet.
Firstly, What is this new Wristband?
This is a PIN protected seamless wristband to facilitate payment methods in Egypt.
Is it useful?
People have expressed their concerns in many aspects including theft, the unavailability of working/wireless machines, and the non necessity of reinventing the wheel. The question of why use a wristband when there’s NFC in smartphones and could activate Apple Pay, Google Wallet, or Paypal instead is circulating!
On the other hand, and as a reply to these comments, Ahmed Assem, General Manager of the Financial Service Solutions at G+D, clarified that this band is pin protected just like a card. He also explains that this band gives the banks the option to diversify their offerings through various tools.
He explains that it ensures ease of use, which could be an advantage that attracts certain segments, specially because Apple Pay is not yet ready in Egypt. This seamless Wristband used a different technology that doesn’t need the infrastructure associated with Apple/Android Pay. He added that not everyone is using a smart phone; hence, this ensures financial inclusion.
After having heard both sides and seen the band, do you think this is a good idea?
