No. 319: Use your wristwatch to settle electronic payment (September 29, 2011)

You can shortly use your wristwatch to settle electronic payment of Edy. Dainippon Printing developed a wristwatch with a built-in FeliCa-based IC chip jointly with Wako that is a precision equipment maker in Saitama Prefecture. Felica is a noncontact communication technology from Sony. Wako will put the wristwatch that supports Edy on the market coming December. The two companies plan to increase the sales to 500 million yen by 2015 by expanding the consumer market and cultivating the market for institutional use. Named “Risny,” the new product incorporates an IC chip of 28 mm square. The user can authenticates him and settle his electronic payment without removing a Risny from his hand.

Because FeliCa’s communication technology is liable to be affected by mental, it has been hard to apply it to a wristwatch. The research team successfully made it applicable to a wristwatch by modifying the weight of the metal. The retail price of a Risny is scheduled to be around 7,000 yen. It will be marketed through mail order on the Internet and through department stores. The two companies plan to introduce Risny of various designs, and cultivate the market for institutional use including membership IDs, admission tickets of leisure facilities, and for authentication in the workplace.