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According to the U.S. Bank press release:
“Issued by U.S. Bank, the MasterCard PayPass VITAband contains a Radio Frequency Identification (RFID) payment chip, which enables contactless purchases. Customers can load and reload funds onto the chip as needed via an online user account. Each band also carries a VITAnumber, a unique, eight digit numeric identifier that links the wearer to a customizable Emergency Response Profile, which houses the individual’s identity and critical medical information. First responders can access the profile in the event of an emergency.”
In addition to partnering with MasterCard to roll out this product, U.S. Bank relies on FIS to process payment transactions, VITA Products Inc. for the online personal information profile, and Oberthur Technologies for security.