- Watch a recent interview with VezoPay on the TechCentral Show
Unlike other payment methods that require regular charging, screen interaction or additional authentication steps, VezoPay's wearable devices, including the payment rings, are designed to be low maintenance.
The rings are shockproof, dustproof and waterproof, and never need to be charged. Users can make payments simply by placing their hand near a payment terminal, TechCentral first reported earlier this month.
VezoPay partnered with a company called Fidesmo to facilitate the initial onboarding process with Nedbank, and this has now laid the groundwork for a broader roll-out. The announcement of a second banking partner is imminent.
"The onboarding process involved working closely with Mastercard for testing and tokenisation to ensure everything functions smoothly. Although we are not privy to every detail, we know that a series of tests and security measures were implemented to protect user data and transactions," said Pinkus in an interview on Thursday.
"We are in talks with other major banks and expect them to follow suit as the technology proves its efficacy," Pinkus said. The company is also in discussions with Visa about expanding the offering to other institutions.
