TORONTO -

Imagine being able to buy something using your own heartbeat. That's the idea behind a new technology by a Canadian company called Bionym.

The company hopes its technology will eventually replace things like credit cards, key entry cards and typical passwords.

"There's actually unique characteristics that relate to the size of the heart, the position of the heart and the physiology surrounding the heart," explained Karl Martin, CEO of Bionym.

The company created a device consisting of a wristband with an imbedded ECG sensor, much like the ones doctors use. The sensor creates a unique pattern. The wristband links that pattern with an individual and then transmits that information to a computer or other device. 

The wristband is able to send a signal once you walk into a room. It would also be able to unlock your tablet or smartphone, all by reading your heartbeat.

If someone else puts on the wristband, it doesn't work. Bionym says it's more secure than fingerprint, face or even iris scans.

"All of these are essentially on the outside of your body, can be taken by photograph. So we see this as being much more secure but also more convenient," said Martin.

The bracelet is expected to hit the market next spring.