Wearable payments

Garmin Pay launched earlier this year and went live last month. Other banks that support Garmin Pay include Bank of America, Capital One, U.S. Bank, several U.S. credit unions and a growing number of international banks, including Russia’s Sberbank.

Android Wear introduced a new version of its technology earlier this year.

Fitbit's expertise in monitoring exercise and health seems pretty far removed from the world of payments, but the company is running full-speed into the world of fintech.

Garmin International’s newest smartwatch now supports contactless payments through a partnership with Fit Pay Inc.

Because wearable payments technology is still considered experimental, it is important to address security before the market for such products gets much bigger.

Some credit unions are beginning to offer payment services via wearable technologies, but many say it will take further declines in the pricing of those items before they are widely accepted by consumers or financial institutions.

In service now for a decade in Africa, India and parts of Europe, M-Pesa is expanding its telco-driven mobile money service to include tap-and-go payments through wristbands, stickers or cards.

The bank is also working with Fit Pay Inc. to allow its customers to make contactless payments with their credit or debit cards through connected devices.

A new initiative from CO-OP Financial Services aims to help two CUs support MasterCard’s payments services for Garmin and Fitbit wearable devices

In a market seemingly dominated by "Pays" from smartphone makers, a few companies are taking a much different approach to mobile payments. Here are some of the more extreme examples.

Arguably the most recognized name in wearable fitness trackers, Fitbit launched the Fitbit Ionic smartwatch with support from Mastercard, Visa and Amex. But you'd be forgiven if you didn't know about the card brands' involvement.

Are chip implants really any different from Apple’s Touch ID, which has convinced countless iPhone and iPad users to scan their biometric traits to make it easier to unlock their mobile devices?

Large outdoor events were among the earliest proving grounds for mobile point of sale technology. Will this environment be as welcoming of digital currency?

Wearables are a clear evolution of the mobile wallet, but companies are still experimenting with use cases. Here are a few of the latest concepts.

The Token ring's approach is reminiscent of Amazon's Echo devices, which are bland monolithic speakers that can be loaded with "skills" to enable them to place calls, make purchases, activate light switches and tell jokes.

Universal Resort's launch of the TapuTapu band at its new Volcano Bay water park illustrates how much more a wearable can do when it is incorporated into the design of the park from the get-go.

The market for fitness trackers is saturated with generic products, and Fitbit needs to differentiate with devices that have capabilities beyond counting users' steps and tracking sleep.

While smartwatches drew a lot of the attention to wearable payments and the Internet of Things, in practice smartwatches just don't seem suitable for most transactions.

In-app payments via Apple Pay have been available with the ExxonMobil Speedpass+ app since last year, but this week the petroleum giant boosted the app to enable users to pay at the pump at 9,600 U.S. Exxon and Mobil stations via the Apple Watch.

Technology never stands still, and even the most successful mobile wallets in the market need to keep pace with the needs of consumers and merchants. A few are making changes that position them for new markets and platforms in the near future.