# Dual-Purpose Payment Seeking productivity, consumers turn to multifunctional credit card options. By [Tana Makmanee](https://www.trendhunter.com/tmak), SVP, Research Services at Trend Hunter | Published May 12, 2014 | Category: [Lifestyle](https://www.trendhunter.com/pro/category/lifestyle-trends) Source: Trend Hunter, https://www.trendhunter.com/protrends/dualpurpose-payment ## Key Figures - Trend score: 4.3/10 - Evidence articles: 5 ## What is the Dual-Purpose Payment trend? **Dual-Purpose Payment:** As technological integration expands, a reliance on speed and efficiency becomes commonplace, prompting a desire for more productive methods of everyday routine. Seeking to make daily transactions more economical, consumers are turning to dual-purpose payment options to add diversity to traditionally single-serving credit sources. Multifunctional payment innovations speak to a desire for more utilitarian, yet equally effective methods of day-to-day purchase. ## At a Glance - Evidence: 5 featured examples - Articles from: Jan 8 to Apr 30, 2014 - Published: May 12, 2014 - Patterns: [Convergence](https://www.trendhunter.com/pattern/convergence), [Acceleration](https://www.trendhunter.com/pattern/acceleration) - Megatrends: [Hybridization](https://www.trendhunter.com/megatrend/hybridization), [Simplicity](https://www.trendhunter.com/megatrend/simplicity), [Artificial Intelligence](https://www.trendhunter.com/megatrend/artificial-intelligence) ## Audience - Gender: 50% men, 50% women - Primary generations: Millennial, Gen X - Top markets: North America, Europe, Asia ## Themes within the Dual-Purpose Payment trend ### Dual-Purpose Payment Consumers are turning to multifunctional payment options to add diversity to traditionally single-serving credit sources. ### Smart Wallet Technology High-tech wallets designed to securely store electronic versions of plastic cards are becoming increasingly popular. ### Wearable Payment Systems Smartwatches are being developed to function as a payment method, using Bluetooth Low Energy beacons to connect with payment systems. ## What the Dual-Purpose Payment trend means for industry ### For Retail Businesses are optimizing portable sales with card-swiping smartphone cases and innovative payment technologies. ### For Fashion Disruptive innovation opportunities are available for fashion brands seeking to integrate payment hardware into clothing items, such as payment-enabled suits and accessories. ### For Finance The finance industry can capitalize on the trend of smart wallets and wearable payment systems by developing new products and services to meet changing consumer needs. ## Trend signals for Dual-Purpose Payment Trend score 4.3 out of 10, from popularity 63%, activity 57%, freshness 8%. - Popularity: 63% - Activity: 57% - Freshness: 8% ## Examples of the Dual-Purpose Payment trend 5 featured examples from Jan 8 to Apr 30, 2014. - [Smartwatch Payment Systems](https://www.trendhunter.com/trends/smartwatch-technology): A New Payment Method is Being Developed Using Smartwatch Technology (Category: Business) Implication: As more consumers turn to mobile and wearable devices for payments, there is a huge opportunity for financial services companies to explore new payment technologies. - [Card-Swiping Smartphone Cases](https://www.trendhunter.com/trends/the-griffins-merchant-case): The Griffin's Merchant Case From CES 2014 Accepts Credit Cards (Category: Marketing) Implication: The Griffin's Merchant Case will be beneficial for retail merchants. - [Suave Payment Suits](https://www.trendhunter.com/trends/power-suit): The Power Suit Lets You Pay with the Wave of a Hand (Category: Fashion) Implication: Fashion industry players have an opportunity to integrate technology into their designs, as well as establish partnerships with payment providers and retailers. - [Card-Generating Smart Wallets](https://www.trendhunter.com/trends/wocket): The ‘Wocket’ Generates Electronic Versions of Debit and Credit Cards (Category: Tech) Implication: Opportunities to disrupt traditional banking and finance systems by transitioning to smart wallets and biometric payments. - [Bulk-Free One-Swipe Wallets](https://www.trendhunter.com/trends/wallet-one-credit-card): Put Your Wallet On a Diet with the Only Coin (Category: Tech) Implication: Creating new, innovative ways to manage money and simplify financial transactions could disrupt the personal finance industry. ## Recent trend clusters - [Assisted Choices](https://www.trendhunter.com/protrends/weight-loss-medication-support) (Lifestyle) - [Storyline Sips](https://www.trendhunter.com/protrends/themed-drink-menus) (Lifestyle) - [Bedtime Cocoon](https://www.trendhunter.com/protrends/sleep-sensory-blocking) (Lifestyle) - [Source Signatures](https://www.trendhunter.com/protrends/oak-finish-whiskey) (Lifestyle) ## Trending in Lifestyle - [Mystery Packaging Campaigns](https://www.trendhunter.com/trends/cow-not-laughing) - [Multi-Benefit Protein Shakes](https://www.trendhunter.com/trends/comes-in-three-flavors) - [Creator-Led Learning Series](https://www.trendhunter.com/trends/learning-series) - [Accessible Fintech Pop-Ups](https://www.trendhunter.com/trends/chequing-account) All articles: [Lifestyle](https://www.trendhunter.com/lifestyle)