MasterCard unveils secure-payment prototypes for 2016 delivery

MasterCard on Monday unveiled secure payment prototypes in the form of rings, wristbands and car key fobs after working with NXP and Qualcomm to develop the chip-level technology.

Products are expected to roll out in the U.S. next year. Capital One was named as the first credit card issuer to back the program.

"As more and more 'things' become connected, consumers will have endless possibilities when it comes to how they pay and will need all their devices to work seamlessly together," said Ed McLaughlin, chief emerging payments officer at MasterCard, in a statement.

A new MasterCard video shows a model making a secure payment for coffee in a shop with a wristband, then using a ring to pay for a subway fare at a turnstile and, finally, paying for groceries with a key fob at a point-of-sale terminal. The video showcased a smart wristband from Nymi, a smart ring from Ringly and a key fob from GM. Other partners named included clothing designer Adam Selman and Bluetooth locator device maker TrackR.

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