Garmin watches' newest iteration, the Vivo smartwatch, maintains the company's commitment to fitness, while offering a new integrated payment plan that eliminates the need for a wearer to carry a wallet during their workouts.
Garmin Pay, the new service, functions similarly to Apple Pay, enabling wearers to make tap-to-pay purchases from the watch's face, as opposed to a phone screen. After linking an eligible credit card, consumers can treat themselves to a post-workout smoothie, without having to travel home to collect one's belongings.
In addition to its consumer convenience, the smartwatch features a wide range of fitness-focused functions, which aid in a more connected workout. Vivo can provide wearers with a full range of analytics, seamlessly tracking and deciphering their movements.
Why This Trend Is Growing
- Integrated Payment Smartwatches
- Disruptive innovation opportunity: Develop smartwatches with integrated payment capabilities to provide consumers with a seamless and convenient shopping experience.
- Tap-to-pay Technology
- Disruptive innovation opportunity: Integrate tap-to-pay technology into various devices to enable fast and secure transactions, eliminating the need for wallets or phones.
- Fitness-connected Wearables
- Disruptive innovation opportunity: Combine fitness-tracking features with wearable devices to offer consumers a more integrated and comprehensive workout experience.
Industries Being Reshaped
- Wearable Technology
- Disruptive innovation opportunity: Innovate wearable technology by incorporating payment options and fitness tracking capabilities to attract health-conscious consumers.
- Mobile Payments
- Disruptive innovation opportunity: Further develop mobile payment solutions by expanding tap-to-pay technology to more devices, providing a convenient and secure alternative to traditional payment methods.
- Health and Fitness
- Disruptive innovation opportunity: Merge wearable technology and fitness tracking in the health and fitness industry to offer consumers a more personalized and connected workout experience.
