Identity, Security, Payments, Biometrics, Smart Cards and Authentication News

Time is money with new ABnote-LAKS Smart Watch

Friday, November 21, 2008

ABnote, the parent company of the ABnote Group which operates Arthur Blank & Co. in the U.S., has added the contactless LAKS Smart Transaction Watch to its inventory for U.S. and Canadian customers. Users can simply wave the watch over a contactless payment reader to complete a transaction. The watch can be issued with a traditional companion card linked to the existing cardholder account and provides the option of using either the watch or card for payment.

ABnote believes that the smart watch will provide a top-of-the-wallet-effect, driving users to utilize their payment account more often than with a card alone.

“With American Banknote, we have a strong and innovative partner for the launch of the LAKS Smart Transaction Watch in the USA and Canada,” said Lucas Scheybal, LAKS CEO.

The watch, which can be personalized in a variety of colors and graphics, features a slide in system for a SIM sized smart card supplied by ABnote. Multiple applications can be utilized so that financial applications can be alongside others, such as mass transit or access control. [end] 

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