Optus is set to launch a smartwatch that will allow users to purchase a coffee or any other product simply by tapping their watch on a payment terminal.
The telco announced the proof of concept watch, which is being developed in partnership with payment provider VISA and manufacturer ConnecteDevice, at the Mobile World Congress in Barcelona.
The company will use its Cash by Optus payments platform to link the wearable tech with a nearby Apple or Android smartphone. When in close range, the connected watch and linked smartphone will sync up via Bluetooth to update the account balance on the connected watch and transaction details on the linked phone.
A payment terminal will recognise a tap of the watch the same way it recognises a Tap and Go or PayWave payment.
Currently, only Android users have been able to use the Cash by Optus feature to allow them to make payments with their smartphone.
Ben White, vice president of mobile marketing at Optus, said in a statement the technology aims to bring contactless payments to the telco’s entire customer base across lots of platforms.
“We see huge opportunities in the wearable market by bringing new experiences to our customers through products that combine trusted technology with lifestyle benefits,” said White.
Optus has slated the release for the end of the year.
Kirsten Robb is a former journalist at SmartCompany. Previously, she worked at News Corp as a property reporter for Leader Newspapers and the Herald Sun, and holds a Masters of Journalism at Melbourne University.
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