DAA Daily

The chip that will allow you to pay with nothing but your bare hand

By: Destiny Mouawad, Staff Reporter, The Pawprint

As we move from using paper money more and more, individuals resort to using contactless forms of payments such as “tap to pay” cards for their convenience. 

The worry of having the exact amount of cash is removed when customers such as Patrick Paumen use a form of contactless payments. Paumen “…causes a stir…” whenever he pays for something by simply putting his hand over a card machine and waiting for a small LED glow coming from underneath his skin.

Back in 2019, Paumen underwent surgery whereby he had a microchip, a “…little bigger than a grain of rice…”, injected under his skin. 

Founder and chief executive of Walletmor, an implantable chip firm, Wojtek Paprota notes that the chip is completely safe for users and works as soon as the procedure is done, lasts indefinitely, and stays in place. The chip which is made out of a naturally sourced material similar to plastic has been sold to nearly 500 individuals so far. 

A 2021 survey done in the United Kingdom and in the European Union consisting of 4,000 people resulted in 51% of them claiming they would consider the chip, while many may not be against the idea, others are. Financial Technology expert, Theodora Lau, expressed her concern about this extension of technology and the internet questioning, “…how much are we willing to pay, for the sake of convenience?…” 

While Paumen may remain hopeful about the usage of implants, some of the risks are “…unwarrented…” and as technology continues to involve it is worth taking a step back to make confident and informed decisions about how we choose to use all these innovations.

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