An Apple Pay Alternative on Your Wrist

Courtesy PureWrist

The PureWrist bracelet

Lots of people love Apple, but many stalwarts are holdouts against the tech giant. What to do if you want to pay on the go but don’t want to use Apple’s soon-to-be-ubiquitous Apple Pay service? Enter PureWrist.

PureWrist, which is raising launch funds on crowdfunding site IndieGogo, is a silicone bracelet with an embedded payment chip that uses the same technology as Apple Pay. It can be used anywhere that accepts contactless payment, which, the company says, includes Target, Whole Foods, Walgreens, and even NYC taxis. Square readers will soon be outfitted for the job.

The bracelet seems a good idea, but it might have personal-finance experts balking. Instead of connecting to your bank account or a credit card, the bracelet is linked to a prepaid debit card from MasterCard that comes with a $4.99 monthly maintenance fee.

We can see some uses for it, however—especially as more retailers begin to accept contactless payments.