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.
- Coffee shop rolls out face-based payments in Romania
- Manchester bar to introduce finger vein biometrics for payments, age verification and Covid-19 contact tracing
- Three in four US consumers now prefer using contactless cards
- Citadele adds support for contactless payments rings
- Mercedes to secure in-car payments with biometrics
This article is more than five years old