This year LAKS entered a joint venture with Wearonize to create LAKS PAY (LAKS PAY is not the same as LAKS, they have different chips, capabilities and websites). Now as far as I understand LAKS PAY would allow you to switch which card you have linked to the wearable/implant on the fly through the Curve app and should not expire since it “re-tokenizes”. This sounds ideal for a payment implant since it is pretty cheap and it has a larger antenna than walletmor chips which are pretty difficult to align with the payment terminal.
Am I missing a big drawback here or misinterpreting the capabilities of the LAKS PAY?
Has anyone tried out the new chips (not LAKS but LAKS PAY)? And if so how was your experience?
Just had a read through the FAQs for this as it certainly whet my appetite.
Under ‘DOES MY LAKS WEARABLES HAVE AN EXPIRY DATE?’
It says the following:
By default, you can use your wearable for contactless payments for 3 years from the time it is connected to the bank. However, this depends on your bank.
The payment service is provided by your bank.
When your payment card is linked, a reference to your card is stored. This reference is called a token and is stored by LAKS in the wearable.
Please note, however, that we have no influence on the function of the token and cannot accept any liability for it.
After the three years have expired, you can have your wearable personalised again, provided that the payment service is supported by your bank. To do this, you must return the wearable to us or order a replacement card – depending on which wearable you have. The cost for this is € 20.00 plus shipping costs.
That is from the old website. LAKS is the old name LAKS PAY is the new one. Here is what the new website (lakspay.com) says about the new chips:
Unlimited reset and re-tokenization options to keep wearables in-use, even if the user changes.
Free (Re-)tokenization with Mastercard: The wearable / chip in the field even after LoA expiration date is possible as long as the respective Issuer policies are followed and their requirements are accomplished.
Free (Re-)tokenization with Visa: The wearable / chip in the field even after the LoA expiration date is possible as it can be (Re-)tokenized as long as needed. All this is based on Mastercard Mobile technology LAKS PAY works with the new LAKSPAY.com only.
Ah damn you’re right. I guess I didn’t understand the difference between tokenization and personalisation.
Tbh I am still very tempted by the link to curve since I have multiple cards that I use when I travel and I’ve been waiting for someone to collab with Curve for a while now.
@amal, will soon™ support such a feature or should I not hold my breath? Also are we talking this month/summer/year soon™?
How can you make one reply so frustrating and exciting at the same time. I know more about the next unreleased iPhone than about this mysterious implant. It’s killing me.
@amal So, new around here but been watching this thread. Trying to find more news on this soon. Did I miss some announcement, or are we still in the “Soon™” time frame?
