Your customers can soon pay with a watch, using Cash by Optus

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Your customers can soon pay with a watch, using Cash by Optus

Here is another watch that your customers may soon wave at your EFTPOS terminal.

The contactless payments capability of the Apple Watch has attracted a lot of attention, but it's not the only game in town.
Optus has announced an update to the Cash by Optus system that works like a prepaid contactless debit card. What's new is the ability to work with a smartwatch or wristband connected to an Android phone or iPhone that's on a Optus monthly plan and equipped with a special SIM.
The development makes Cash by Optus available to users of a much wider variety of smartphones - without the wearable device it is currently limited to around 110 Android models.
At this stage it is only a proof of concept, but Optus expects to release it later this year.
The watch used in the proof of concept is somewhat chunky, but large watches do seem to be in fashion.
There's no doubting the popularity of contactless payments - 60% of in-person Visa payments are made using payWave.
So if you accept contactless payments, make sure your staff are aware that customers can already use their phones to make contactless payments, warn them that the practice is going to become more common over the course of this year, and that they shouldn't be surprised if customers just wave their wrists at the terminal in order to make payments.
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