Few electronic gadgets will be as useful to your child as a well-chosen NFC wristband. What is this device and how can a school-age student benefit from it? Learn about its long-term benefits.
NFC wristband – what you need to know:
- The NFC wristband is a simple and secure contactless payment tool. It operates using a passive NFC chip that activates when touched to the terminal. The wristband is more secure than a card because it doesn't store sensitive data, and a one-time token is generated for each transaction.
- Introduces children to the world of finance, teaching them responsibility. Instead of cash, parents can deposit pocket money into the account linked to the wristband. This helps children learn to manage their budget, save money, and plan their expenses.
- Provides safety and comfort in everyday situations. The wristband is always at hand and much harder to lose than a wallet or physical card. Thanks to its waterproof properties, it can be worn continuously. It's ideal for situations where a child forgets their wallet or needs to make an urgent, small purchase.
- Requires parental supervision and financial education. To avoid ill-considered purchases, parents should set daily transaction limits and regularly check their child's spending history in their banking app. Connecting a separate card, designated just for the child, to the wristband provides additional security.
NFC wristband – what is it? Is it a gadget for your child?
NFC is a wearable device with a single purpose: enabling contactless payments for purchases and services. Therefore, it's not just another distraction that keeps children from learning, spending time with peers, or pursuing hobbies. In fact, it's just an ordinary wallet, but in a modern, digital form.
The wristband is powered by NFC technology (NFC). Near Field Communication) based on magnetic induction and enabling data transmission over short distances. It is divided into two groups:
- active NFC module – It consists of a flat, self-powered chip that can send and receive signals. It is most often used in smartphones,
- passive NFC module – This is a chip, a small integrated circuit without its own power supply, found in the NFC wristband. It activates only when it enters the electromagnetic field of a device with an active module.
How does an NFC wristband work in practice? Let's say you want to use it to pay for something in a store. The entire process can be completed in just a few steps.
- Place it against the payment terminal and wait for the characteristic sound signal.
- If you have set any amount limits for contactless payments with a given card, enter your PIN (it is automatically required for payments over PLN 100).
- Done – the payment has been debited from your account and you will see a new item in the transaction history in your banking app.
It's so simple that your child will be able to handle this form of payment without any problems.
How does the Maxcom Pay NFC wristband work?
From a practical perspective, paying by card or phone is exactly the same as when using an NFC wristband. Transaction security is just as high as with NFC wristbands, and in some respects even higher.
Theft or loss of the wristband poses no threat, as you can quickly block the payment option at any time in the Fidesmo app. The wristband itself does not store the payment card details required to complete the payment.
The key step is to install it on your phone Fidesmo application – you can download it from the App Store or Google Pay for free. To add a card that your child can use to pay with their NFC wristband, follow the instructions below.
- Launch the Fidesmo app and place your wearable device exactly where NFC is built into your phone.
- Click "Connect" and then "Fidesmo Wearable".
- Follow the on-screen instructions.
- Provide detailed information about the card you are connecting.
- Accept the required terms and conditions and consents.
- Confirm the action with a one-time authorization code from your bank.
Fidesmo has security features that protect your card when paying. When you tap your wristband on the terminal, it doesn't receive your card details, but a one-time token generated for that specific wristband. The same applies to the wristband itself. Because of this, you don't have to worry about someone intercepting your sensitive information and using it for cyber theft.
The NFC wristband does not require charging, so you don't have to worry about it running out of charge at the worst possible moment and making payment impossible.
NFC wristband applications – how to wisely introduce your child to the world of finance?
If you want your child to be good at handling money as an adult, it can't be a taboo topic at home. We need to talk about finances openly, in a child-friendly way that will help them understand their mechanics and role in everyday life. These are the main pillars of a solid financial education that your child will pick up on and use naturally.
What role can an NFC wristband play in this process? Instead of giving your child pocket money in cash, deposit it into an account and top up your child's virtual allowance. This way, they'll have full access to their own money and a say in how they spend it. With your help, they'll learn to save and use available funds in emergencies when necessary. This is a great way not only to impart important lessons in a fun way but also to pursue dreams, both small and large. These savings can be used for a dream toy, a new game, or anything else that motivates your child.
NFC wristband safety – what do you need to know as a parent?
The ability to use an NFC wristband at any time can be tempting for a toddler whose heart skips a beat at the sight of a toy featuring their favorite superhero or a large scoop of ice cream. If you simply give them such an accessory without any introduction, they might be tempted to spend money on an ill-considered purchase.
For this reason, proper financial education from a young age is essential, which is supported by the NFC wristband. What does this mean? Such a gift requires a little more effort on your part than just wrapping it in colorful paper.
What if the beginnings of financial education prove bumpy? Minor setbacks are part of the path to success, so they are to be expected. However, it's worth protecting yourself from these quickly turning into a disaster. With this in mind, it's worth linking a separate card to Fidesmo, designated just for your child, rather than your primary means of payment. Additionally, you can set daily transaction limits at a relatively low level, tailored to your child's needs, for example, 10 or 20 PLN.
Although independence plays an important role in learning to manage one's own budget, it is important to maintain discreet control over how your child spends their money at all times. Regularly checking your transaction history in your banking app or reviewing larger expenses are good habits that promote a sensible approach to your money.
How can a child use the wristband?
An NFC wristband will come in handy in many situations that could happen to anyone. Imagine your child:
- They forget their lunch, don't have cash on them, and are hungry all day. With a Maxcom Pay wristband, they can buy a sandwich at the school store or a vending machine and not go home on an empty stomach.
- They urgently need a notebook or art supplies, which they forgot to tell you earlier, so they get attention at school. With the wristband, they can independently buy a notebook or pen at the kiosk on the way to school, avoiding unnecessary stress.
- He goes for a walk with his friends after school, but he can't afford anything because he's forgotten his wallet. His wristband is always with him – thanks to it, he can buy water or juice after training with his friends and enjoy time together.
- He falls victim to cash theft and has nothing left for small pleasures. Cash can be lost forever, but if someone steals the wristband, simply lock it remotely in the app—and the money is still safe.
In all these situations, the solution to the problem is the same: an NFC wristband that is difficult to lose. ATM1/IP68 water resistance means you don't even have to take it off for a swim, which minimizes the risk of accidentally leaving it at home. This is a much safer option than a wallet, which is easy to forget in a hurry.
Summary: Is an NFC wristband a good choice for your family?
An NFC wristband is a useful gadget that can be easily personalized and tailored to your style. On the other hand, it's also a symbol of sound financial planning. If you value gifts that are eye-catching and have educational value, a wearable device like this fits the bill perfectly. Think about it before the next gift-giving occasion, or even without one at all – for your child's peace of mind.
FAQ - frequently asked questions
How does an NFC payment wristband work and is it more secure than a payment card?
The NFC wristband works using Near Field Communication technology, which enables wireless data exchange over short distances. It's more secure than a traditional card because it doesn't store data; instead, it uses a one-time token to authorize transactions, protecting against cybertheft.
What are the benefits of giving an NFC wristband to a child in the context of financial education?
The NFC wristband is a modern tool for learning money management. Instead of cash, children can use virtual pocket money, learning to plan their spending, save, and make informed financial decisions, while parents can discreetly monitor their budget.
How do I connect a payment card to an NFC wristband and what applications are needed for this?
To connect your card to an NFC wristband, install the Fidesmo app on your smartphone. Then, following the instructions, hold the wristband close to your phone, enter your card details, and confirm the transaction with an authorization code from your bank.
Does the NFC band need charging and how often?
NFC payment wristbands that operate using a passive module do not require charging because they draw their energy from the electromagnetic field of the payment terminal. However, it's always worth checking the instructions for your specific model.