Visa, MasterCard, Swedbank, SEB, Citadele, Norvikbanka, LatCard

Tag Archive for POS

Wearable payments to drive over USD 500 bln annually by 2020

Digital payments using wearables devices such as smart watches, fitness trackers and payment wristbands are an increasing area of focus for industry participants, a recent report reveals.

According to a recent report “Wearable Payments” from market intelligence company Tractica, consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market.

Wearable payment systems may use near field communication (NFC), radio frequency identification (RFID) or quick response (QR) codes and barcodes as enabling technologies, and the contactless point-of-sale (POS) terminals and backend payment processing infrastructure being used for mobile payments are being leveraged to extend payment capabilities to wearables, as well.

Read more