Last Updated on 2 months by Shubham Attri
Paying via cash and online cards is so yesterday! With the latest advancements in technology, you can now pay with your hand! Yes, you read that right, you can now pay using a microchip payment implant in your hands.
Now, you don’t have to worry about losing your card, or your network ditching you at the time of payment. Simply show your hand, and you’re good to pay. Walletmor, a UK Fintech company based in the UK, has been able to test and deploy a unique system of payment using NFC microchips that are embedded into your hands.
You must be curious to know what is Microchip Payment Implant and what’s the need to get it installed inside your body? For a very long time now, we hear about AI-centric technologies taking over natural human functioning, for example, the concept of Neurealink approached by Elon Musk, then the Bionic eye to restore vision in blinds, and much more.
Looking at these wonderful inventions, one thing is clear be it health or adapting the safest means of payment mode, the world is progressing quite at a pace. So, let’s understand the concept of the Walletmor Payment chip and how it works below!
What Is Microchip Payment Implant?
“The Walletmor payment implant is a tiny device which is about as small as an ordinary safety pin, but about half a millimeter in thickness comprised in an integrated circuit. According to the British-Polish start-up that developed the device, the Walletmor payment chip also has a metal sheath that acts as an antenna and is encased in a hermetic bio-homing.
The Walletmor chip is approximately the size of the grain of rice it weighs just grams. The whole unit consists of the microchip and an antenna that is enclosed in biopolymer, a natural material that is similar to plastic.
The fundamental premise behind the device is that, when it comes into contact with a reader, that reader emits an input, generally in the form of an order that the NFC chip processes, reads, and issues an answer, typically as output. Imagine how you would use tokens or metro cards.
Now that you have an idea of What Is Microchip Payment Implant, let’s dig in more to understand it’s working.
Where Can You Use Walletmor Payment Chip?
According to the founder and chief executive Wojtek Paprota, “The implant could be used to purchase an afternoon drink at the beaches of Rio as well as a cafe or a cup of coffee in New York, a haircut in Paris or even at the local supermarket,”. That means the microchip payment method can be used anywhere where contactless payment methods are accepted.
How Does The Walletmor Payment Chip Work?
The Walletmor chip which weighs less than 1 gram, and is larger than a grain of rice, is made up of a tiny chip and an antenna that is enclosed in biopolymer which is a naturally-sourced material, which is similar to plastic.
Mr. Paprota states that the device is 100% secure, has been approved by the regulatory authorities and is immediately effective after implanting, and will remain in place. The device does not require an external battery or energy source. The company claims to have recently sold over 500 chips.
The technology Walletmor employs is called near-field communication or NFC it is the payment system that is contactless that is found in smartphones. Other payment systems are made up of RFID, or radio-frequency identification (RFID) which is the same technology that is used in physical credit and debit cards.
How To Get The Microchip Payment Implant?
If you’ve read about Walletmor payment systems you’re probably thinking “how is it actually working and how to get it installed”. If that’s the case, you are in the right spot. The first and most important thing to be aware of is that Walletmor payment systems can be linked to iCard personal accounts. Therefore, you’ll need to create an account on iCard for access to the Walletmor payment system.
Step One: Install An iCard Application And Then Set Up Your Account
iCard is your European-based digital wallet that is linked to your Walletmor implant.
Step Two: You Can Activate And Top-Up Your Implant Using The iCard Application.
Join your implant with it to your iCard account by entering its activation code. After that, you can add funds to your account.
Step Three: Install The Fixture With A Professional
You can have your implant fitted in the medical aesthetics center and you can make appointments to meet with your local doctor.
Is The Microchip Implant Secure?
According to the founder and CEO of Walletmor, Wojtek Paprota the implant is safe and secure, is regulated to the highest level, and can be used immediately following the implant. The chip is held securely without the need for batteries or any other power source.
As of now, around 500 implantable chips have been offered by Walletmor. The NFC technology the chip is based on is distinct from the traditional RFID (RFID) an identification method employed in contactless debit cards and credit cards.
The main concerns with implanted chips concern security and invasiveness. A survey conducted by the UK and EU in 2021 found that 51% would consider implanting in the event that it eased their lives in multiple areas.
The experts are concerned that this technology will become so advanced in the coming years that it could contain individuals’ personal details and even their location. How can this information be kept safe? We’re not certain.
World’s first implant that is completely safe that can be used to make any time anywhere. Do not worry about card, cash, and SmartPay solutions. Now you can pay by hand. Take advantage of your Walletmor payment implant today and step forward into the future.
Concerns Regarding Microchip Payment Implant
As revolutionary and original as this technology may be, there are people who are concerned about implanting microchips. Here are the two major concerns regarding microchip payment implants:
1. Privacy And Security
The first is the issue regarding privacy and security. The most important issue is whether the information that is stored inside these chips is protected and if someone could actually be tracked with the chips.
To alleviate these concerns, Paprota and his team have decided to opt for NFC technology instead of the less popular RFID technology. NFC chips are only active when they are in an electromagnetic range of a certain type of reader. Since the size of the field is tiny, they remain inactive when they are not in use.
2. Harm To The Body
Another concern is medical ethics and the possibility that the chips can harm users. In response to this concern, Walletmor put out a video on their YouTube channel explaining that they send the implant inside sterilization pouches enclosed in a polymer pouch containing chlorhexidine gluconate solutions, which is a chemical that is used in surgical procedures as an antiseptic and a germicide skin treatment.
It is encased in a biopolymer substance which has been proven to be hypoallergenic and biocompatible. Furthermore, the implant can be removed anytime by any general practitioner.
Hopefully, now you know what is Microchip payment implant and how it works. Technology for sure is emerging swiftly, and inventions like these are like cherry on the cake for mankind.
Do share your views about this modern payment method in the comments section below. For more such updates, keep visiting our site.
Does Walletmor Function Within The US?
The technology makes Walletmor payments implants accepted globally and by all terminals that process contactless payments.
Who Can Get The Microchip Implant?
Anyone falling in the adult age group can get the microchip implant.