Purewrist, a provider of contactless transaction technology, announced Tuesday its Purewrist GO wearable bracelet will go live on card issuer and processor i2c Inc.’s platform. Purewrist chose i2c as its payment processor because of i2c’s global footprint and its platform’s support for devices that enable contactless and mobile transactions, says Suresh Palliparambil, chief executive of Purewrist.
“Our plans are to roll out globally and we needed a processor that has relationships with banks around the world and is responsive to our needs,” says Palliparambil.
Purewrist GO, which launched in September is a reloadable bracelet with an embedded EMV chip that allows consumers to make prepaid contactless transactions at any POS terminal that accepts Mastercard Debit. i2c’s platform supports all major card brands, acceptance of which can be activated as demand warrants, Palliparambil says.
Jim McCarthy, president of i2c and a former Visa Inc. executive, sees Purewrist GO as a timely entrant in payments at a time when consumers are gravitating toward contactless payments because of the Covid-19 pandemic. “Contactless is more appealing to consumers in the current environment, so the timing of partnering with Purewrist is good,” McCarthy says. “It’s great to see commercial use of contactless applications like this taking hold.”
Purewrist GO retails for $25 plus the amount preloaded onto the device. Consumers can purchase Purewrist GO preloaded with values of $10, $25, or $50. The device is available through Purewrist’s e-commerce store, with plans to make it available through retailers in 2021. Plans to get the device into stores have been delayed because foot traffic for many merchants remains down due to the Covid-19 pandemic, Palliparambil says.
Purewrist’s plans to expand the utility of its device to allow entry into buildings have also been delayed due to the pandemic, as many employees are still working from home. “Enabling building access is something we intend to pursue with enterprise customers, because we feel Purewrist GO is a great tool for workers who can use the device to ride the subway to work, pay for a cup of coffee, and enter their office building safely and securely,” says Palliparambil.
In addition to its wearable device, Purewrist offers a free companion mobile application and online portal for users to manage their account. Consumers can use the app to check their balance, view transactions, customize reloading preferences, and lock their device if it is lost or stolen. The card account embedded in the bracelet’s chip is issued on behalf of Purewrist through Sutton Bank. Purewrist manages its contactless program.