The payments industry is renowned for the rate at which it innovates and evolves. While this rapid change can be exciting, it can be difficult for merchants to keep up with all the latest advancements. After all, many companies still haven’t transitioned from traditional credit card machines to EMV-compliant ones. If you want to stay ahead of the game then read on as we present the big upcoming payment technology that you must adapt if you want to keep accommodating your customers.
Introducing Wearable Payments
Powered by some of the same technology that allows contactless credit card payments and payment through mobile phone apps, payment systems that customers can wear are currently the center of attention in the payments industry. Smartwatches are a prime example of wearable payments technology. They have been pushing their way into the market and, although customers may not buy them solely to make payments, they often are equipped with NFC technology allowing payment through apps like Apple Pay or Google Pay. More niche wearable payments are also being tested by different companies in the form of wristbands, rings, gloves and more.
Why Are Wearable Payments So Popular?
Wearable payments are likely catching on owing to ease of use. Mobile payment apps were so successful for a similar reason. They removed the need for customers to fumble through their wallet in order to get out a credit card. Similarly, with wearable payments customers don’t even need to pull their phone out of their pocket. It presents customers with a fast, easy payment method that’s always immediately available.
If you want to prepare to accept not just wearable payments but also all the newest payment systems then you need a credit card processing provider that always stays up-to-date. At WOW Payments we are not only one of the most technologically advanced merchant services providers, we are also one of the most affordable. Our credit card machines are extremely inexpensive and we offer free processing so you can accept credit cards for free while staying on top of all the latest payment methods. Check out our website for more information.