June 17, 2019

Diginomics + Wearable Tech = The Power Suit

PayBySuitSince 2011, we have been talking about the future of alternative payment systems could be summed up in one phrase: “The Wave.” Simply wave your hand at the payment terminal, and that’s it! whether it be through biometrics, or wearable tech (calm technology), or a combination of both and more, “The Wave” would prove to be the “King of Convenience” in a world of advancing contactless payment technology.

Enter: The Power Suit, haled and heralded by Heritage Bank. According to PaymentEye (April 28), the bank has “tapped into the next generation of wearable technology with a revolutionary solution.”

“The suit will enable contactless payments through the flick of a sleeve. A contactless payment chip is embedded into the sleeve with an antenna. As a result, low value payments can be made by users who brush their wrists against Visa payWave terminals,” the report says. Read more and see video …