As we rapidly move towards a connected future, we can be sure that the advancement in technology will free us from having to carry around multiple devices. Just look at how cellphones have evolved. With what smartphones allow us to do today, one doesn’t need to carry a separate device for emailing, creating presentations or documents etc. There a lot of work being done to simplify payment technology. M.J. Bale has tailored a “Power Suit” which includes a contactless payment chip through which the wearer can pay for any purchases at a Visa payWave terminal by simply swiping their sleeve.
The tailor doesn’t skimp on style on quality. This suit is made from the finest Australian merino wool. Its contactless chip and antenna are fused into the sleeve which allow the wearer to pay with a sweep. The payment technology is powered by Heritage Bank, an Australian financial institution.
Since its essentially a wallet in the sleeve, the balance can be checked and topped up through a linked Heritage Bank prepaid account that can be accessed online or through a mobile application. Eleven prototypes of this suit have been released to customers, with another being auctioned through eBay. The proceeds from this auction will go to the 4 ASD Kids charity.
Recently a similar payments solution was highlighted. Tech startup MEVU has created a bracelet which lets wearers pay for purchases through Bitcoin.
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