Wearable payments have not become the hype most people expected it to be. In fact, it seems this industry has hit an all-time low in terms of interest. Consumers seemingly don’t care all that much about exploring this option. ANZ, a major Australian bank, has not given up just yet. Their customers can now use Garmin Pay to make purchases on the go. An interesting decision, although it is doubtful a lot of people will use it.

ANZ is a remarkable bank for many different reasons. In this case, they still hold out high hopes for wearable payments. Signing a partnership with Garmin is a smart decision. After all, it allows the bank to enable Garmin Pay payment solutions for their customers. Plenty of people use this type of hardware as we speak. Whether or not they use it payment purposes, remains a big question, though.

ANZ Gives Wearable Payments Another try

ANZ customers can now load their eligible debit or credit card through the Garmin app.Wearable payments can be completed through the device itself. Anywhere contactless payments are accepted, this method should be available starting today. It is good to see the bank give clients as many options as possible. Whether or not they actually want to use wearable payments, is a different matter altogether.

ANZ Managing Director Products Bob Belan comments:

“We’re pleased to be partnering with Garmin to bring our customers a payment option with one of the world’s leading wearable device companies that has a proven track record in innovation. The wearables market continues to grow with more than 26 million devices shipped worldwide in the third quarter of 2017 alone, so we know our customers will appreciate the ability to pay on their Garmin device.”

To use this payment option, customers still need a Garmin account. Moreover, they need one of their three devices to pair with their smartphone. Once everything is set up, wearable payments become a breeze to complete. This industry direly needs a kickstart before it becomes obsolete altogether. It was once touted as a major breakthrough but has not gained any major traction whatsoever.


About Author

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.

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