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Bitcart and Dash introduce a wristband for cryptocurrency payments

17 July 2017 21:00, UTC

According to Coinspeaker.com, Festy is a wristband for making not only contactless payments but also payments without electronic wallets, cell phones or credit cards. This new solution was announced by Bitcart, Irish discount and gift card platform.

It is operated due to integration with a QR code and NFC.A wristband is directly linked to a user’s Dash account, thus, its owner can make payments using this cryptocurrency. Transactions are made within a few seconds.

Wristband’s title implies that visitors of bars and festivals can pay for food and drinks without banking cards, cell phones or other payment means. A wristband owner will have full confidentiality – card numbers and hidden keys are not shown in proces of payments. Accounts can be topped-up at company’s branded ATMs or online.

Festy creates steady and safe cash flows between a seller and a buyer and makes it unnecessary to withdraw cash from ATM, which is often charged with fees. Cash in its turn can be easily lost or stolen. Sellers if they receive Dash cryptocurrency do not have to pay high fees to banks for using card payment terminals.

Daniel Diaz, VP of Business Development for Dash, called Festy an excellent idea.

“This is a product my friends and I would use, because who wants to take their personal belongings to a bar or festival when you don’t have to? And who wants to keep counting cash at the bar and putting change in your pocket? No one.”

Also Daniel Diaz believes Festy can attract sellers with its very low fees for money transfer and settlements, with no risk of a double charge or fraud.

For now, Festy has only been announced. When it is in public sale, it will be available on www.festypay.com.