Payments made using wearable devices such as smart watches, fitness trackers and wristbands will grow from US$3.1bn in 2015 to $501.1bn worldwide by 2020, research from market intelligence firm Tractica finds. “By that time, wearable payments will represent approximately 20% of the total mobile proximity transaction volume and about 1% of total cashless transactions in retail,” the firm adds.
- India to add face biometrics to Aadhaar national ID platform
- Walmart applies for multiple automated shopping patents
- Apple Pay runs free meal delivery promotion
- Google Assistant adds support for voice-based payments
- Shell rolls out mobile payments at the pump