BRASILIA, Brazil—Visa has introduced a prepaid payment bracelet in Brazil.
Valid, a provider of customized secure solutions, produced the bracelets that have been launched by Brasil Pré-Pagos (BPP) and Visa.
Called BPPTag payment wristbands, the device works with near field communication RFID technology, RFID Journal reported.
The bracelet acts as a prepaid card that can be recharged via debit card or ticket. Transaction history can be tracked through an application, such as recharges, account balance or device lock, in the event of loss or theft. In order to pay for a retail purchase with the bracelet, shoppers bring the wristband close to a payment terminal, RFID Journal explained.
Purchases below $50 do not require a password.