Alpha-Bank has officially presented its latest development: PayBelt, a contactless payment technology complaint belt.

According to the bank’s press service, the preliminary research brought Alpha-Bank developers to the idea of creating a radically new device in the sector of contactless technologies. In particular, operation of all existing gadgets, elaborated before the belt, involve hands to a certain extent, which is already a direct contact.

“We have reviewed the whole concept of contactless payments. Having analyzed the location of the majority of terminals, we came to a conclusion that those are installed basically at the level of a belt. That is why we decided to create a truly contactless payment method: PayBelt. We are convinced that contactless innovations will prevail in the future,” the bank’s statement reads.

Clients can activate PayBelt by only apposing Alpha Bank card to it. Alpha Mobile allows to set PayBelt’s features for withdrawing or receiving financial means to enable clients to quickly and safely pay for daily purchases.

The technology will also let legal entities and state structures to save time and employees, receiving payments “on the spot”.

P.S. Several days after this article was published, PayBelt was revealed as April Fools' Day joke by Alfa-Bank. Strangely, the bank posted the "news" about PayBelt on April 2.

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