Target, Costco, and other brands are increasingly embracing contactless payment methods, opening the opportunity for wearables to become payment mediums.
Most of the payment-enabled wearables that are available stateside are wristbands or smartwatches. But as payment rings, key fobs and other wearable devices take off abroad, it may not be long before they become more widespread here, too. Already, the U.S. company Motiv is getting ready to enable contactless payments on its titanium smart rings later this year. According to the Verge, Motiv announced at a January tech conference it would use consumers’ heartrates to help authenticate payments. Meanwhile, the U.S. startup Token has launched a waitlist for its payment-enabled smart ring. The British tech company NFC Rings ships its payment rings worldwide – including to the U.S.