Today EFTM had the opportunity to experience a new way to pay. Optus held an experience event at Taste of Sydney which enabled us to make purchases with a tap of the wrist.
A very slim and sleek band contains an NFC chip which works just like the MasterCard or Visa Card you use today when you tap and go. Provided by Optus this wristband works like a prepaid debit card. It can have up to $500 on it and can be set to auto top up or manual top up.
The beauty of a wristband like this is that if you like to go exercising without your wallet or phone then this lightweight wristband will allow you to make payments where-ever tap n go is enabled.
The balance of the “card” can be viewed on your mobile device and is not dependant on your mobile phone carrier. In the app you are also able to see previous transactions and top up amounts. There is likely an argument that this is a good way to introduce money and buying items to your modern child. At Taste of Sydney for example, you could wrap one of these around your kids wrist and let them buy items to their hearts content – until they’ve spent their allowance. The purchases are instantly reflected in the app.
This isn’t the first time Optus have added money to your wrist, this time last year Trevor tried out a smartwatch by Optus featuring tap to pay features also but that product was not intended for public release – it was perhaps a taste of what was to come.