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Wristband Gives You An Electric Shock When You Overspend (softpedia.com) 62

An anonymous reader writes: "Intelligent Environments, the company that brought us emoji passwords, has launched another original product, a banking platform integrated with IoT devices working on the classic 'If This, Then That' principle," writes Softpedia. "Called Interact IoT, the platform will allow developers to create smart products that interact with your bank account. Intelligent Environments launched the platform yesterday with two integrations, one for the Pavlok wristband and one for Google's Nest thermostat." Bank account owners can set a threshold for their account, which if they go under they'll receive an electric shock from their Pavlok wristband or Interact IoT will turn down their Nest thermostat to save money. More integrations are under work. Which ones would you like to see? "Both Pavlok and Nest Thermostat are opt-in services, so customers can decide whether to switch them on or not," said David Webber, Managing Director at Intelligent Environments. "However, with the Pavlok integration users have told us they love it. They think it's much better to get a little shock now, instead of a nasty one later."
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Wristband Gives You An Electric Shock When You Overspend

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  • by Anonymous Coward

    It gives you the "empty purse" experience if you are about to overspend.

    • Ow, that hurts!

    • by mjwx ( 966435 )

      This, the only shock I need is to look in my wallet and find I've only got a 20 and a fiver left.

      Also it doesn't need recharging... or make me look like a douche nugget.

  • Well, that's one wristband you better remember to take off before you go on a date...

  • by mADneSs ( 167736 ) on Friday May 20, 2016 @06:42PM (#52152579)

    From the second linked article (the softpedia one):

    When the user overspends, the Interact IoT platform will automatically turn down his Nest thermostat a few degrees in order to save money. Research has proven that turning down your heating by three degrees can help someone save $370 per month.

    $370/month? Either A: Where the fuck are you living, or B: What the fuck are you living in when you can save that much per month by lowing the temp by 3 degrees?

    Sweet saucy ball cakes, I thought my heating bill was high!

    • by AK Marc ( 707885 )
      I use electric for heating and cooling (no natural gas or anything else), and I never pay $200 in heating or cooling. Even in Alaska, heating was less than $370 a month.
      • Maybe it was Al Gore's house? The one that is an energy gobbler and has a huge greenhouse gas footprint?
      • by mADneSs ( 167736 )

        Yeah, I currently live in Alaska and my heating bill in the dead of winter is about $200.

      • I use electric for heating and cooling (no natural gas or anything else), and I never pay $200 in heating or cooling. Even in Alaska, heating was less than $370 a month.

        Lucky. I'm happy if my electric bill is under 370. Only happens in the winter.

        • by tsa ( 15680 )

          What currency do you use?

        • by AK Marc ( 707885 )
          If your heating pushes your electric bill up so high, you should change your heating to something more efficient. A small apartment uses electrical heating, but is usually small enough (and insulated enough, though warm neighbors) that it won't get too expensive. So someone getting bills that high should be using a boiler. And those don't run on electricity.
    • They do this all the time. Remind me again how much I save by disconnecting all those wall warts, right thousands...

    • I'm guessing that's got to be a typo and they meant "year" - $370/year sounds reasonably plausible.
  • These inventors must not be married.
  • by ClickOnThis ( 137803 ) on Friday May 20, 2016 @06:49PM (#52152615) Journal

    "Both Pavlok and Nest Thermostat are opt-in services, so customers can decide whether to switch them on or not," said David Webber, Managing Director at Intelligent Environments.

    I should frickin' hope so.

  • by Gravis Zero ( 934156 ) on Friday May 20, 2016 @07:06PM (#52152701)

    does it shock you as soon as it's first put on because you spent $200 on a shitty gimmick that won't work?

    • I am considering starting a petition for a 220v@10A model. Dumb enough to buy this and configure it for a shock? Let them win a Darwin award!

      In fact, advertise that buyers can win a Darwin award and I'll bet we an sell exponentially more of them!

    • No, because people are that stupid, and or ignorant.Buying this will save some people money. Almost every buyer will save money.

  • Sure (Score:4, Funny)

    by Dunbal ( 464142 ) * on Friday May 20, 2016 @07:10PM (#52152717)
    Yeah just let me give this internet thingie access to my bank details so it can read my bank account balance. I mean, what could possibly go wrong.
    • Yeah just let me give this internet thingie access to my bank details so it can read my bank account balance. I mean, what could possibly go wrong.

      +1 Insightful.

  • by ffkom ( 3519199 ) on Friday May 20, 2016 @07:24PM (#52152779)
    ... the by then ruling AI will make humans wear at all times to prevent disobedience. Test result successful when the group of buyers is large enough to prevent in-breeding effects when spawning all required servants from that group's gene pool.
  • "What's that lighted bracelet? Are you under house arrest?"

    "No... I just have no self-control and need to be literally trained like a dog."

    I can't wait until somebody develops an app for Android that lets me hack into these things and shock people remotely. Bought that pack of gum? Overspent!

    • "What's that lighted bracelet? Are you under house arrest?"

      "No... I just have no self-control and need to be literally trained like a dog."

      I can't wait until somebody develops an app for Android that lets me hack into these things and shock people remotely. Bought that pack of gum? Overspent!

      I think an app with a shock button for all your friends would be an excellent hack.

  • by pem ( 1013437 ) on Friday May 20, 2016 @07:42PM (#52152875)
    Unless we've gotten a lot more masochistic, they won't have too many takers [wordpress.com].
  • $200 bet on employers making these things mandatory for their employees.

  • by PPH ( 736903 )

    create smart products that interact with your bank account.

    Just nope. The havoc that these outfits could wreak with read-only access to my bank account simply boggles the mind.

  • I've got a debit card and have a repeating transfer set up at my bank to transfer a set amount each month into the account connected to the debit card.

    Then I get a friendly reminder if I try to overspend: the card transaction is denied.

    If I really want to buy it anyway, I just fire off an SMS to my bank to transfer a bit more and retry within seconds.

    I don't have a lot of expenses so once a month is enough to keep the amount low, to limit the risk in case something happens to my card.

  • I need 4 for my wife, one for each limb, when can I expect them?

  • And could I set it to go off if the wearer walked into a casino?

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