Retail therapy seekers rejoice as the new wristband called Nymi could take the convenience of credit or debit card payment to a whole new level by eliminating the need to remember passwords and PINS.

Nymi (pronounced Nim-ee), is a “payband” that identifies owners through their unique heartbeats when charging purchases to their credit or debit cards.  The Royal Bank has joined up with technology developer Bionyn to give it a test run with about 250 Toronto residents, RBC personnel and 45 vendors.

Eventually, the bank hopes to roll out Nymi across the country which only works with Mastercard currently but eventually will expand in its options.

RBC is obviously banking on folks getting on board with this new payment option, but it may not be for everyone.  What do you think?  Too close for comfort having your heartbeat monitored for money or is anything that makes life more convenient worth it?



Let us know what you think!