Wearable Payment Device Market worth $82.0 billion by 2026 - Exclusive Report by MarketsandMarkets
CHICAGO, April 9, 2021 /PRNewswire/ According to the new market research report Wearable Payment Device Market with COVID-19 Impact, by Device Type (Smart Watches, Fitness Trackers), Technology (NFC, RFID), Sales Channel, Application (Retail/Grocery Stores, Restaurants, Entertainment Centers), and Geography - Global Forecast to 2026 , published by MarketsandMarkets, the global Wearable Payment Device Market size is projected to grow from USD 43.0 billion in 2021 to USD 82.0 billion by 2026; it is expected to grow at a CAGR of 13.6% from 2021 to 2026. The growth of the wearable payment device market is majorly driven by surge in the adoption of contactless cards and wearable devices due to the COVID-19 situation, emerging demand for contactless payment for secure and safer payment transactions, and the growing adoption of NFC technology.
India’s Axis Bank Introduces “Wear N’ Pay” Payment Solution
India-based banking group
Axis Bank recently announced it has launched its own range of wearable contactless payment devices, called
Wear N’ Pay. Axis Bank reported it teamed up with Thales and Tappy Technologies to design and create the products, which are exclusively available on the Mastercard platform.
“With the launch of its wearable devices brand, ‘Wear ‘N’ Pay’, Axis Bank has become the first bank to introduce a new line of wearable devices that can be incorporated into existing accessories or worn easily to carry out contactless transactions on the go.”
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Axis Bank launches contactless wearable payment devices
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Last Updated: Mar 10, 2021, 09:27 PM IST
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Synopsis
Announcing the Wear N Pay wearable devices brand, Axis Bank said it is the first bank in India to offer such a service.
Agencies
Private sector lender
Axis Bank on Wednesday launched the country s first contactless wearable payment devices to allow customers make on-the-go transactions more conveniently.
Announcing the Wear N Pay wearable devices brand, Axis Bank said it is the first bank in India to offer such a service.
The bank has partnered with Thales and Tappy Technologies to design and create these products, which are exclusively available on the Mastercard platform, it said in a release.
Axis Bank introduces wearable devices for contactless transactions - Private sector lender Axis Bank on Wednesday introduced wearable devices to carry out contactless transactions..