Recently, foreign payment companies and fashion brands have produced a batch of wearable payment devices, which means that wireless payment is not limited to mobile phones, and there will be more and more new patterns in the form of the Internet of things + payment.

mini rfid tag

the annual technology event in the United States, Visa together with Ray-Ban, sunglasses also have a mobile payment function.

Fashion brands are involved in making the stylish sunglasses. The sunglasses have a chip integrated on the side. When you need to pay, you only need to remove the sunglasses and get close to the NFC payment terminal without a separate card.

Newbega Company is a professional NFC product manufacturer and solution provider. Focus on serving the middle and high-end market, if you have the need for wearable payment devices, welcome to inquire.

Table of Contents

Why Develop Wearable Payment Devices?

According to the report, the current action payment sunglasses are only a prototype product, which is a built-in NFC wafer, bound with a stored value card. There are only 50 Visa partners or other influential people in the world who are qualified to pay for the glasses.

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Meanwhile, according to foreign media reports, Visa is preparing to test the market reaction and demand of the glasses in the next surfing competition at Quiksilver Pro and Roxy Pro in the Gold Coast of Australia.

Visa is also investigating public demand, including whether banks or brands are considering sponsorship, said Chris Curtin, head of branding and innovation marketing. In the future, it may even put a chip with payment capabilities built into the clothes.

Sam Shrauger, senior vice president of Visa, said: ” Our goal is to prove that any device that can be connected or any device that can carry a chip can be a payment device.”

He also showed the utility of the device. When consumers are on vacation at the beach, their phones, bracelets, watches and even the payment rings mentioned above are “abandoned”. How to make it easier for them to pay? Payable sunglasses may finally be able to solve the problem of “paying for ten meters by the beach”.

In recent years, at the mobile World Congress (Mobile World Congress), card organizations represented by Visa have displayed various wearable payment devices at their own booths.

On the eve of the 2016 Rio Olympics in Brazil, Team Visa athletes received a payment ring with a Visa payWave chip and a prepaid card to pay the ring close to the POS terminal. Athletes can easily use the shops, restaurants and entertainment facilities in the village.

What is The Future of Wearable Payment Devices?

In the industry, Visa has proposed the concept that everything can pay for it. In October 2016, Visa and Intel jointly announced together at the Money 20 / 20 Summit to develop more secure payment and data security technologies for connected devices.

wearable payment devices

In addition to sunglasses, bracelets and rings, there is also the concept of “car payment”. In early 2017, Visa and IBM announced a partnership on IoT to make payment available for all Internet devices, including wearables. One example is their joint roll-out of Visa Checkout, an in-car payment feature.

Visa Checkout Can work with Pizza Hut to connect the menu to the car and combine the payment function, that means to order food in the car and take the food directly outside the restaurant. Currently, this function also works with the car manufacturer Honda, allowing users to park at the gas station and pay automatically in the car.

Not only Visa is actively distributing IoT applications, but other international card organizations are also actively launching innovative payment solutions. Master Card 2015 Announced a cooperation with Ringly, a GM automotive and smart wearable startup, and Nymi to combine payment functions on their devices; American Express also announced a cooperation with Jawbone to launch a mobile payment bracelet.

Summary And Outlook

With the rapid development of the Internet of Things, the Internet of Things + payment has become an inevitable trend. Payment services have already penetrated into various connected devices such as wearable devices, automotive dashboard, smart home appliances.

Even the voice assistants launched by major manufacturers have combined payment functions, including Amazon Alexa, Google Assistant, etc.

Newbega company supports product customization and software, and supports solutions based on customers’ own needs. Click on the small envelope on the right and consult wearable payment devices making now.

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