In Australia, leaving home without your phone, card, wallet or cash is now possible with the rollout of the country’s first payment ring to “tap and go”.  Customers are paying with rings, watches, and bracelets to name a few. For some early adopters, rings have become a wearable of choice.  

“Buying beer at his local shop recently near Melbourne, Australia, Ashley Leahy advanced on the cashier’s desk and made his hand into a fist. He wanted to pay with the ring on his finger. So, naturally, he held his knuckles up to the shop’s payment-card reader. The cashier “thought it was some sort of scam,” says Mr. Leahy, 32, who works for a market-research firm. “He looked down at my ring and my hand, and was like, ‘What are you doing?’ ”.

Cash-only businesses are becoming less common in Australia as customers carry around less cash in their pockets. This wearable technology has been around for a while and has become part of work and life of many Australians, thanks to things like Apple watches and the range of fitness devices.

“Wearable payment devices are not new, but have been coming into their own more recently. American Express and Visa have brought out these handy payment devices at venues such as the Olympics and the U.S. Tennis Open. Apple just introduced the latest version in its watch line that has had a payments capability”

In a few years, we will see tremendous technological advancement in Australia’s payment gateways. Get ready to embrace change.

Refer full article at PaymentsJournal.com

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