Page 77 - Pay Magazine s2014

volume 8 • spring 2015
cards, the hardware typically comes with the ability to accept contactless payment at no or low cost [by upgrading the software]. This can greatly expand consumers’ options to pay via NFC devices.” (See our EMV report on page 80.)
Wearable tech gadgets began to gain momentum a few years ago with the emergence of fitness bands, typically worn on the wrist to measure activity and wellness, such as those Fitbit Inc. introduced in 2012. Google Inc. has poured
Some of the ideas for new wearable payments technology may sound far out but not when you consider the direction contactless pay- ments are going globally.
—Rodman Reef, independent payments industry consultant
millions into its short-lived eyewear Google Glass. The closely watched wearable computer is back in development, meanwhile tech enthusiasts have embraced about
half a dozen smartwatches with more functions—email, calls, text messages and social media—from manufacturers, including Pebble Technology Corp. and Microsoft.
paybefore.com 75