Brief: Wearables not bearable for payments
Market research conducted by RFi Global into emerging payment technologies has found Australian banks' customers were far more likely to favour payments systems run using biometrics, such as fingerprints, over use of wearable payments devices. ANZ's customers topped that list (with 33 per cent opting for biometrics versus 25 per cent in favour of wearables) followed by CBA (30 per cent and seven per cent), and ING Direct (26 per cent and 11 per cent). Customers of NAB and Westpac were more circumspect - just 23 per cent of the customers at both those banks favoured use of payments based on biometrics over use of wearables.