Soulwrist aims to eliminate credit cards by creating a way to quickly pay with the flick of the wrist.
The company has started a fundraiser on Kickstarter to get its idea rolling. They ask for product and software development donations to construct the chips that act as the payment system.
The brand aims to create fashionable, wearable payment systems. Users will be able to pay at all terminals through a payWave system. The company hopes to integrate an app that connects to the plastic bands and allows connections from bank cards to the chips inside.
The brand hopes to set itself apart from Apple Pay and Apple Watches by creating a watch where the chips can be removed and placed inside another band.
Image Credit: SoulWrist
Why This Trend Is Growing
- Wearable Payment Systems
- Soulwrist aims to offer a fashionable wearable payment system that eliminates the need for credit cards and currently available payment systems.
- Chip Technology
- Soulwrist's use of chip technology in their wearable payment system presents disruptive innovation opportunities in the FinTech industry.
- Crowdfunding for Tech Startups
- Soulwrist's successful crowdfunding campaign presents opportunities for other tech startups to fund their product development and realize their visions.
Industries Being Reshaped
- Fintech
- Soulwrist’s wearable payment system utilizing chip technology presents disruptive innovation opportunities in the FinTech industry.
- Fashion and Wearable Tech
- Soulwrist's fashionable, removable chip technology in their wearable payment system presents disruptive innovation in the fashion and wearable tech industries.
- Crowdfunding Platforms
- Soulwrist's successful fundraising campaign on Kickstarter highlights the potential for crowdfunding platforms to be used as a tool for tech startups looking for financing.
