Is this the beginning of the end for cash? Maybe so. In an indication that contactless payment continues to gain acceptance in North America, U.S. Bank, a division of U.S. Bancorp, introduced its VITAband payment system this week, a wristband that combines contactless payment technology with emergency contact and medical information.
The VITAband allows customers to simply “Tap & Go” when making purchases at merchant locations that accept contactless payments. It also links to a customizable Emergency Response Profile (ERP) that provides medical professionals with fast access to critical medical information in the event of an emergency.
U.S. Bank employees began testing the VITAband in multiple states in the second quarter of 2011, making U.S. Bank one of the first major card issuers in the U.S. to pilot this new technology.
U.S. Bank is partnering with MasterCard Worldwide, Vita Products, Inc., Oberthur Technologies and FIS to provide the wristband that combines advanced financial management and universal health record technology.
“U.S. 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. It provides contactless payment functionality, along with access to emergency contact and medical information, all in one convenient wristband,” said Beth Blaisdell, senior vice president for U.S. Bank Payment Services