Giesecke & Devrient, in collaboration with CaixaBank, is giving out contactless payment wristbands to Mobile World Congress 2017 attendees.

The G&D-manufactured wristband is lightweight, submersible and ergonomically designed, according to a press release.

The device, which operates much like a prepaid card, integrates a Java-based security chip containing the CaixaBank payment application and an initial balance.

Wearers can use it to make small payments in a variety of Barcelona shops during the conference. Indeed, as a certified-by-Visa product, the wristband can be used for contactless payments the world over, according to the release,

Besides payments, the wearable can be used for building access control system or as a public transport card, thanks to its NFC contactless technology and various mobile applications.

In the short term, G&D expects a strong transformation of the payment business accompanied by exponential growth in mobile payments, the release said. The company predicted that 936 million consumers will use the technology in 2021 to carry out transactions totaling 471 billion euros ($498 billion) in value.