Wearables - gimmicks or goers?


Hi everyone!

As you know, we’re always looking at alternative ways to be more cashless. At the moment, we’re looking into wearable options for less hassle at summer festivals and sport games.

To wearable or not to wearable?

What do you think? Would you use one at festivals or sports games? Are there other occasions where one would come in handy?! Wristbands or rings?



Definitely good to have as an option… Ring or wrist band of some sort would be handy.

Super handy for beach trips, or even shopping when juggling many bags/trolley etc (not having to dig through pockets for your phone or wallet would be great.)


@NoDowt The beach is a great shout. We’re looking into waterproof options. The
checkout is also an area where speed and convenience are key. Thanks for your thoughts. Curious, if you had to choose one, would you prefer a wristband or a ring?

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Tough one… I like the idea of a ring better… however a wristband is likely to be more universal & less issues with fingers swelling, weight gain/loss etc…


Hi, I am an engineer so I love the idea of implementing this technology on a small wearable, like a ring. But at the same time I would like to know that the technology would be secure.

My current knowledge is that it is relatively easy to hack with some sort of RFID skimming device. I think the major banks offer some sort of insurance in the case of this event occurring!

I would be more than happy to trial one of these devices, especially if I was able to set and adjust the limit that could be spent in any given transaction.


Love the idea of waterproof wearables either a wrist band or a ring. I like the idea of a ring but I think a wristband would be more versatile. It means not having to carry my wallet all the time. The amount of times I’ve ducked out of work to buy some lunch or a coffee only to find I’ve left my wallet at my desk. With a wearable wristband I would no longer have this problem.

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I personally wouldn’t use one, but it would be great for surfers or people who go the beach/swim a lot, so I definitely see a market for it. I prefer the idea of an adjustable wrist band over a ring because fingers come in so many different sizes. I’d definitely love to see an app for smart watches, because I would use this - but not everyone wants or can afford a smart watch, so it would be good to have all the same choices as the competition.

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The wearable watch is a great idea! How about also integrating it into mobile pay?


Interesting that you bring up the skimming device topic. I think this is a standard A Current Affair scare-mongering approach. I’ve had a (very) quick search around and I can’t find any reports from the banks or otherwise of reported RFID skimming issues, except for (surprise) websites selling RFID protection devices. ATMs sure, but not from people walking around in supermarkets grabbing hundreds of card details.


Thanks @Xan, we like the idea of a small wearable too. We’ll add you to the trial list!

@Xan and @AntMcAnt re security: we understand wearables are as safe as cards. The chip tech is the same level of encryption. Arguably wearables are safer because you never let them leave your possession.

Scanning an encrypted chip is effectively pointless. It takes more than a couple of scans to break the encryption.

Having a rogue merchant taking payments from your wearable is possible, but merchants are subject to quite arduous checks on application with a bank, so not easy. In any case in that scenario the bank of the rogue merchant would be liable to refund.

Losing a wearable is like losing a card. Once you realise it’s happened you can stop any further payments through your app. Any fraudulent payments would be refunded by your bank, pending your bank’s review.


If you’re looking for people to trial this count me in!


Great Hear! I didn’t Know of the the encryption of the info, and the merchant regulations. Can you link me something to give me some further reading?

Obviously the cases are rare and xinja would be able to help in the case of something going wrong.


I’d consider a wearable. I still keep my eye on the smartwatch market, waiting till it reaches a level of maturity that makes it worth investing in.

battery life and security would be my main considerations.

I guess I also view cashless payments as a risk factor for more uncontrolled spending, so I’d have to balance convenience with behaviour control.

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:thinking: Thanks @psychsplash It would be good to test the balance here :ninja_emojis_blue_02:

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The best place to read up on chip security in a wearable would be via EMV Co, who define the standards. Link to their site is here

Merchant assessment is harder, as none of the acquirers discuss this openly. You could try here. This describes the risks and suggests best practises for the Acquirer. I do not attest to its accuracy but it does seem to give a good summary.

Happy reading @Xan

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I can’t think of any time where I haven’t had my phone & wallet on me and needed to get money out so it does feel like a gimmick. Marketing-wise, it could work however for good ROI, you’d need it to be easily visible and I don’t particularly want a big fluro pink thing hanging off me.

The payment rings that some banks have (I think Bankwest have them in Australia) is clunky and the small number of people I’ve seen that have one have eventually left them at home in the kitchen drawer.

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Thanks @grum curious if the wearable wasn’t fluro pink, would you be interested in testing a beta version? It would be great to iron out these wrinkles with your feedback :ninja_emojis_blue_02:

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Like @grum I could see the average user seeing it as a gimmick, but I think if you’re into fitness, something that means you don’t need to carry a card while going for a workout could work.

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UP launches today and they have Apple Pay, Samsung Pay, Fitbit and Garman. They also had a dig at Xinja re pre-paid card vs their actual bank accounts with zero international fees