Wirecard’s HCE Smartband Is the First Wearable Wallet

German technology and financial services company Wirecard AG has unveiled its first wearable: the Wirecard Smart Band. This smartband uses a host card emulation (HCE) for contactless payments against NFC payment terminals. Now, your wrist can be your wallet.

In an official announcement, Wirecard AG CEO Markus Braun said, “The future of payment is wearable. Wearables are the new trend in the field of internet-based devices. We are only at the very start of our journey towards a mobile economy. Modern payment wearables such as our Wirecard Smart Band are a further enhancement and expression of the mobile lifestyle.”

The Wirecard Smart Band, which was showcased at this year’s DLD15 in Munich, has Bluetooth 4.0 to connect to smartphones. This app allows users to load credit and debit card information onto the wristband. The band also has the ability to connect to a number of mobile services, like loyalty programs.

Wirecard AG also presents the band as a great solution for payments in cruise ships, theme parks, festivals, and other similar areas. The company hasn’t said much about the Smart Band’s other functions, but photos suggest it will give users access to weather information and message notifications at the very least.

The unveiling of the Wirecard Smart Band comes at a time when mobile and wearable payments are picking up speed. For instance, Apple Pay was recently released and will be included on the Apple Watch, which is expected to come out this year. Apple Pay even uses the same security technology that Wirecard’s band will use.

No price or release date has been announced for the Wirecard Smart Band.

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