Australian full-service bank Bankwest recently introduced the Bankwest Halo as a personalized wearable payment ring for customers. Interested consumers may receive a free sizing kit and for a fee, they will be able to receive their very own wearable payment device. As the wearable comes from Bankwest, interested consumers must have an eligible Bankwest Transaction account to make the most of the contactless payment device. The secure wearable is water-resistant and requires no charging, making it an easy accessory to incorporate into one's daily life.
In the same way that one would ordinarily use a contactless card to seamlessly make a payment, Bankwest notes that consumers may simply don the contactless ring, "fist-bump the terminal and go."
Those who are interested in trying the device may indicate their interest to Bankwest online so that the Bankwest Halo may be ordered promptly in early 2018.
Banking Payment Rings
The 'Bankwest Halo' is a Personalized Contactless Payment Ring
Trend Themes
1. Contactless Payment Wearables - The rise of personalized wearable payment devices like the Bankwest Halo presents opportunities for innovative solutions in the contactless payment industry.
2. Convenience and Ease of Use - The availability of secure, water-resistant wearable payment devices that require no charging opens up opportunities to create disruptive innovations that prioritize convenience and ease of use for consumers.
3. Personalized Banking - The introduction of personalized wearable payment devices by banks highlights the trend towards offering customized and unique financial solutions to customers.
Industry Implications
1. Banking - Banks can explore the integration of personalized wearable payment devices to provide customers with more streamlined and convenient banking experiences.
2. Wearable Technology - The emergence of wearable payment devices creates opportunities for the wearable technology industry to expand its product offerings and enhance user experiences.
3. Retail - Retailers can take advantage of contactless payment wearables by offering seamless and frictionless payment experiences for their customers.