One in four Aussies would implant a payment chip under their skin

With the rise in popularly of wearable tech, you may have just become used to the idea of your customers paying with the tap of their wrist – but what if they weren’t even wearing a watch?

A survey by Visa has revealed one in four Aussies would consider inserting a microchip under their skin to pay for goods and services, according to The Australian.

The survey, conducted by research firm UMR, interviewed 1000 Australian consumers and found 25% were “slightly interested” in having a commerce-oriented chip implanted in their skin.

The technology for a subcutaneous chip already exists, according to the report, with US firm VeriChip having created a tiny antenna that sits just below the skin more than a decade ago.

Each chip, with its own unique identification number, is implanted in the soft tissue between the thumb and index finger and then detected by a radiofrequency identification (RFID) scanner.

The research, which was released in conjunction with the University of Technology Sydney to explore the future of wearable technology, also showed 32% of respondents would be interested in paying with a smartwatch, 29% with a smart ring, and 26% with smart glasses.