Saudi Arabia’s Riyad Bank has joined forces with Dutch digital security firm Gemalto to introduce the first contactless payment wristbands in the kingdom.
The new wearables incorporate Gemalto’s contactless MiniTag and can be connected to the user’s debit or credit account.
Go deeper with GlobalData
The bank will also launch bracelets, which can be connected to users’ prepaid accounts to facilitate cashless payments.
At the same time, the lender also introduced Gemalto’s contactless sticker that can be stuck to the back of a mobile phone to support contactless payments through the phone.
Riyad Bank executive vice president head of retail banking division Riyadh Al-Zahrani said: “The launch of Saudi Arabia’s first ever contactless payment wristband is the latest example of our commitment to an enhanced and distinctive customer experience.
“It also represents another milestone in our collaboration with Gemalto that supports our vision for innovation in order to better serve our customers.”
