So here's the deal...
THE PROBLEM Paying should not be as complicated as navigating an app in your smartphone or as inconvenient as carrying around multiple cards in your wallet. In addition, current wireless payment cards are not fully secure.
THE FUTURE OF PAYMENTS Google and Apple are in the middle of revolutionizing the way we pay by installing nationwide NFC (Near Field Communications) stations. The biggest companies (Starbucks, McDonalds, Coca Cola, among others) are not falling behind.
"Research showed that within the first 12 months of their first contactless transaction, [Mastercard] PayPassenabled accounts spent almost 30% more on average." "New MasterCard Advisors Study on Contactless Payments Shows Almost 30% Lift in Total Spend Within First Year of Adoption" (http://newsroom.mastercard.com/press-releases/new-mastercardadvisors-study-on-contactless-payments-shows-almost-30-lift-in-total-spend-within-first-year-ofadoption/)
Places currently accepting Apple Pay
Places accepting Apple Pay soon
Apps currently compatible with Apple Pay
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INTRODUCING THE SPID BAND The SPID BAND is an affordable, hassle-free solution in the form of a slim and elegant bracelet that relies on NFC systems to make payments. Highly durable, waterproof, and requiring no battery charge, the SPID BAND seamlessly integrates into any lifestyle. 1
RFID sensor located within and protected by the bracelet allows for safe and convenient payments at any location with NFC systems
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Magnetic safety lock allows ensures the band stays on at all times without the hassle of additional hardware
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Interior high-quality rubber provides maximum comfort at any time and any place
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Durable and waterproof carbon fiber covers the exterior, providing the interior contents with protection through material elegance
"It's not encrypted, which is not what we were expecting. [...] It's really easy to read. […] Now you can get a generic RFID reader and use open-source programs available on the web and read cards." IT security expert Pablos Holman on the security of NFC credit cards "New credit cards pose security problem," (http://www.cbc.ca/news/technology/new-credit-cards-posesecurity-problem-1.904220)
Prototypical hardware solves the issue that current NFC cards are facing by enclosing an interior, 3D printed protective capsule within an exterior, manually rotating 3D printed cylinder. This mechanism simulates the finalized security procedure found in the actual bracelet, which provides the user with the power to manually open or close the gate to the RFID tag.
The functional prototype relies on 3D printing to protect the datareading RFID tag through a 14mm x 5mm capsule. A secondary, external faraday cage would further enhance security by blocking any incoming radio signals.
Seamlessly elegant
spid became an extension of Jaime Flores' junior independent work at Princeton University. It is a collaborative effort that also included fellow Princeton student Patricio Elizondo, who helped develop the project's business model. Jaime Flores also developed the software needed for spid to function properly. CC 2015