Australia's Bankwest is inviting customers to join the wearable payment movement as it prepares for the release of a contactless payments ring which enable touch-and-go transactions with a fist pump at the point of sale.
Set for launch early this year, Bankwest's waterproof Halo ring comes with a $39 price tag.
"Whether you're out for a jog, at the beach or balancing groceries and kids, your wallet or phone isn't always easy to get your hands on," states the registration page. "Bankwest Halo is the latest in wearable payment tech. It works exactly like your contactless cards, just grab the things you need, fist-bump the terminal and go."
The bank first began testing wearable payment devices with 400 staff last year, repurposing debit and credit card chips into a key ring fob, a fitness-style wristband and a clip attached to a wristband or watchband and use for contactless payments.
The Halo ring will mark the bank's first commercial launch of wearable tech.