LONDON—Removing your wallet or phone to pay for things just too much work for you? Good news. Consumers may be able to skip that step entirely, thanks to a new implantable payment chip.
The British-Polish company Walletmor has created a microchip that can be implanted inside a person’s hand and used in the same way one would tap a credit card for payment. The technology is only currently allowed to be sold in the European Union and the U.K., Nextstar Media said.
The company said it’s the first to sell these kinds of chips to willing customers. The technology involves a biopolymer technology about the size of a small safety pin on the world last year.
The cost is around $300. The chips use near-field communication or NFC, the same system smartphones use for contactless payments. They cannot be read until they’re in close contact with a payment reader device, according to the company.
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