Forget watches and glasses, Aussie bank Heritage thinks it has found the cutting edge of wearable tech - a suit that lets customers make contactless payments through the flick of a sleeve.
The bank has teamed up with local tailor MJ Bale and ad agency Whybin\TBWA to develop a 'payweave' suit made from the finest Australian merino wool.
The suit has a contactless payments chip and antenna embedded into its sleeve, enabling wearers to make low value payments by brushing their wrists against Visa payWave terminals.
The chip is linked to a Heritage account, with customers able to check their balance and reload their (dry cleanable) suit via the bank's mobile app.
The partners have made 12 prototype 'power suits', sending 11 to customers and putting one on eBay, where at the time of publication it has attracted 16 bids, hitting A$232.50. Proceeds will go to charity 4 ASD Kids.
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© Finextra Research 2014