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Vipera Plc

World’s First Payments System Which Stops You Overspending When Drunk

Today sees the launch of the world’s first mobile payments system which stops people overspending when they are drunk.

DrnkPay, which has been developed by iBe TSE, is an app that connects the user’s credit and debit cards to a breathalyser or biosensor wearable so it knows how much they have drunk and limits certain purchases if they have had too much.

HOW DOES IT WORK?
1. Users link cards to the DrnkPay app (iOS and Android), then select the number of drinks they wish to have in advance (e.g. 3 pints of beer).
2. The types of payments to block are selected (e.g. bars / pubs, food, online, flights, shopping or all categories)
3. All cards are then blocked for 12 hours.
4. A breathalyser, which is connected to the system via bluetooth, is used before each purchase to authorise payment.
5. If the user is under their pre-defined limit, the relevant cards are activated and payments can be made.
6. If the user is over their limit, their cards are blocked and cannot be used.

Alternatively, if people do not want to carry around a breathalyser, they can use Quantac Tally, a wearable biosensor which constantly analyses the alcohol content in the user’s bloodstream.

The technical development for DrnkPay was carried out by Vipera Plc (LON:VIP), the specialist provider of mobile financial services and an iBe TSE partner. Simon Pearce, Chief Marketing Officer, said: “When we were first approached with this idea we could immediately see a benefit for the end consumer. We believe that this coming together of payments and smart devices will spur the next big payments revolution.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.