Hardware startup X Lab incorporates magnetic flux technology into its Spendwallet device to initiate contactless payments in proximity to any mag-stripe POS terminal. The device, which measures 2.38 x 4.13 x 0.22 inches, holds up to 20 payment cards. X Lab’s technology, like magnetic secure transmission (MST) proximity technology incorporated into Samsung smartphones, emulates the transfer of data that occurs when a payment card is swiped in a card reader. What is different from MST is that X Lab emulation technology works in a low-energy device — lower energy than what is required for ...