Home Wearables Wearable Tech Top 8 Wearable Tech With Ability For Digital Payments

Top 8 Wearable Tech With Ability For Digital Payments

Wearable technology today offers a lot more than checking messages from your smartphones and counting the number of steps you walk. As the world is moving ahead in swift and contactless payments, wearable gadgets are quickly making themselves helpful for this purpose too.

Technology firms have already invested significantly in incorporating contactless payments in wearable tech in the last few years. In emerging economies like India, studies show that around 70% of consumers opt for digital payments as they offer promotions and cashback incentives. Similar offers are also provided by online casinos that offer cashback in the UK. Players can choose from the top casino sites recommended by experts that offer cashback on losses with detailed guides.

Digital payments from Smartphones are already easy due to the Near Field Communication (NFC) technology. Let’s look at some of the top Wearable tech products that have introduced digital payment options in recent times.

Samsung Gear S3

Samsung’s Gear S3 smartwatch leverages its mobile wallet Samsung Pay to transfer funds digitally. The primary prerequisite is to link a card with Samsung Pay, following which you can use G3 for performing the payments.

Samsung Gear S3
Samsung Gear S3

It is compatible with the entire range of Android devices and leverages NFC and Magnetic Secure Transmission (MST) to transmit digital payment data.

Alipay Pay Watch

Launched by the Chinese E-Commerce giant Alibaba, Pay Watch partnered with FiiSmart to create a contactless payment feature. It uses a customized Android version called YunOS with the capability to complete payments in under one second.

Alipay Pay Watch
Alipay Pay Watch

The market strategy during the launch was to expand the product’s reach to the US and UK markets.

Apple Watch

This wearable gadget needs no introduction to gadget enthusiasts. This gadget enables contactless payments to the proprietary wallet Apple Pay via NFC.

Apple Watch
Apple Watch

Users can add debit cards and credit cards to the mobile wallet and use the wristwatch to complete the easy payments.

Nymi Band

This wearable gadget is still in development and a work in progress. But, it has still got the backing of leaders in the payment space like Mastercard. This partnership alone is sufficient to perform NFC-enabled contactless transactions. A Mastercard wallet would be a requirement for digital payments.

Nymi Band
Nymi Band

The differentiating aspect for this product is the biometric facility for added security that tracks the user’s heartbeats to authorize the transactions.

Jawbone UP4

In addition to tracking your fitness activities and managing your smartphones, Jawbone’s UP4 also acts as a mobile wallet.

Jawbone UP4
Jawbone UP4

While purchasing your UP4 wristband, the seamless transaction can be performed via the AmEx card linked to the device.

PayCapsule Flex

This payment band developed by On Track Innovations can act as your digital credit card as well as an ID proof. Like most wearable tech, PayCapsule Flex also makes use of NFC. Users can also embed this device in a garment or other wearable accessories to add a touch of fashion.

PayCapsule Flex
PayCapsule Flex

The compact size of PayCapsule Flex makes it convenient to fit into even a few forms of jewelry. It’s also compatible with e-purse applications.

Ringly

The wearable tech by Ringly comes in the form of rings and bracelets that can be connected to your smartphones via Bluetooth.

Ringly - Wearable Tech
Ringly

The digital payments via Ringly are made possible due to the partnership with Mastercard.

Lyle & Scott bPay Jacket

Yes, you read the name right. All wearable tech supporting payments are not worn on wrists. This pay jacket is not a watch; instead, it contains an NFC chip on the right-hand sleeve.

Lyle & Scott bPay Jacket - A great example of Wearable Tech
Lyle & Scott bPay Jacket – A great example of Wearable Tech

The chip requires to be linked with the bPay account. Following this, the user only needs to swipe their hand over the payment system to complete the transaction.

Swatch Bellamy

The Bellamy edition of Swatch comes with contactless payment options thanks to the partnership with Visa.

Swatch Bellamy
Swatch Bellamy

Thanks to an NFC chip in the plastic watch, the payment feature was added. Initially, this gadget was launched in the US market, followed by Switzerland and Brazil.

WRAPPING THINGS UP

The payment industry has been on a path of contactless and convenience in the past five years.

With the world becoming more tech-savvy every year, the addition of swift payments into the fitness bands and intelligent fashion accessories are expected to be mainstream in the future.

More players, including Sony and Microsoft, have also launched wearable tech that explores innovative digital payments methods.

David Novakhttps://www.gadgetgram.com
For the last 20 years, David Novak has appeared in newspapers, magazines, radio, and TV around the world, reviewing the latest in consumer technology.His byline has appeared in Popular Science, PC Magazine, USA Today, The Wall Street Journal, Electronic House Magazine, GQ, Men’s Journal, National Geographic, Newsweek, Popular Mechanics, Forbes Technology, Readers Digest, Cosmopolitan Magazine, Glamour Magazine, T3 Technology Magazine, Stuff Magazine, Maxim Magazine, Wired Magazine, Laptop Magazine, Indianapolis Monthly, Indiana Business Journal, Better Homes and Garden, CNET, Engadget, InfoWorld, Information Week, Yahoo Technology and Mobile Magazine. He has also made radio appearances on the The Mark Levin Radio Show, The Laura Ingraham Talk Show, Bob & Tom Show, and the Paul Harvey RadioShow. He’s also made TV appearances on The Today Show and The CBS Morning Show.His nationally syndicated newspaper column called the GadgetGUY, appears in over 100 newspapers around the world each week, where Novak enjoys over 3 million in readership. David is also a contributing writer fro Men’s Journal, GQ, Popular Mechanics, T3 Magazine and Electronic House here in the U.S.

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