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ING, working with Samsung and NXP Semiconductors, is piloting a peer-to-peer payments app that uses ultra-wideband (UWB) technology to let users transfer money by simply pointing one handset at another. There is no need to enter another person's email address, phone number or International Bank Account Number (IBAN) when making a payment. UWB is a technology based on radio waves that that can precisely lock onto an object, discover its location and communicate with it.

"This use of tamper-resistant hardware means that when the mobile network has crashed because of a botched software upgrade, cloud services are down because of a DNS misconfiguration and the electricity is out because of high winds blowing trees down on power lines, you should still be able to send cash from your phone to a neighbour's phone via Bluetooth or UWB whatever and you should till be able to tap your CBDC contactless smart card on a shopkeeper's mobile phone to buy some food."