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.
- NatWest Bank begins UK’s first trial of contactless biometric cards
- Vending machine firms to use blockchain ID platform to automate sale of age-restricted items
- PayPal reports 40m Venmo P2P payments users
- Apple Pay goes live in Austria
- Apple to open up the iPhone’s NFC chip at WWDC?