With all of the fast cash and instant payment systems popping up these days, something like the LAKS 'watch2pay' system not only fits the bill but offers even more practicality. This innovative watch-credit-card hybrid system, created by the family-run Austrian watch company LAKS, allows you to make contactless MasterCard® payments using only your watch.
The LAKS watch2pay system is definitely an ingenious invention. As the company points out, watches are worn--not carried. This means they will always be on hand (literally) and easily accessible. It also means there is less of a chance that you'll lose the watch, an advantage you definitely can't ignore, especially since it's so easy to misplace your wallet or phone.
What's more, the LAKS watch2pay offers a variety of cool and colorful watch styles made from high quality materials such as scratch-proof sapphire glass and hand-brushed steel.
Why This Trend Is Growing
- Contactless Payment Watches
- The trend towards wearable technology that incorporates payment options presents an opportunity for companies to combine practicality with convenience.
- Watch-credit-card Hybrid
- The creation of a watch that also acts as a credit card provides a disruptive innovation opportunity by revolutionizing the payment process.
- High-quality Watch Materials
- Incorporating durable and long-lasting materials into the production of watches presents a trend towards sustainable and environmentally-friendly products.
Industries Being Reshaped
- Fashion
- The watch industry creates a valuable opportunity for the fashion industry to collaborate and create unique, stylish, and functional wearable payment options.
- Financial Services
- Integrating convenient payment options into everyday accessories presents an opportunity for financial services to expand their reach and refine the payment experience.
- Technology
- The incorporation of technology into everyday accessories presents a trend towards the creation of multifunctional products and provides opportunities for tech companies to expand into new markets.
