Zooming into the payments field, my presentation dives into the area of wearable payment devices. Going even more focused, I made an in-depth analysis of the Garmin HR Vivosmart with Ez-link contactless payment that was hardly known to anyone in Singapore.
Therefore I came up with this thesis:
Contactless payments wearables have not penetrated into the local market because their convenience do not overweigh their pricey cost.
Before I go on, let’s rewind to the new trends I presented in class..
New Trends – Institutions Implementing Wearables
- Possibility of wearables entering the market tied through school programmes
Cashless payments in NTU
- NTU Students are now able to have an all-in-one device for cashless payments
- Wearable device also serves as Student ID/matriculation card
So I was just joking about having a matriculation card and all these payments incorporated into one device but in latest news…
Apparently, the newest matriculation card issued enables NETSflash pay when going aboard buses too. Why not amalgamate these ideas and create a wearable unique to NTU students?
I found this really timely and fascinating because of how it was rather in-tuned with my hypothesis
…Back to this
Before going into the case study, I surfaced the top three principles that sets the ground of the validity of a wearable device
1.Starts from the human, not the machine
Wearable technology design should start from a human problem, and then evaluate viable technology solutions. It should not start from a particular technology solution looking for places to impose its presence.
2. Capitalizes on existing behavior
To earn the privilege of being worn, wearable design should evoke a feeling of the device as a natural extension of the person. It should not require the person to adapt or force new behavior.
3. Requests attention, does not demand it
Because it is with you everywhere, wearable tech should honor the present moment, not distract from it. In doing so, it permits the wearer to remain in the moment, and for others around the wearer to do the same.
Hence, presenting the Garmin Vivosmart HR with Ezlink
NFC payment feature
- Near Field Communication radius of about 4 cm provides a wireless connection between your device and another
Look and feel
- Simple and sleek
- Only in three colours
- Adjustable strap with 14 slots
- Fits well for wrists 6″- 10″ in diameter.
- Takes a tad longer (0.5s) to be be processed
- Better to choose the terminal of the side you’re wearing
- Plus feature: Able to access last 6 Ez-link transaction records
- Placing of terminal points
- Slightly trickier for those wearing it on their left
Paying for merchandise
- Number of merchants that accept EZ-link as a form of contactless payment but that list is not extensive
- Up to 5 days in a single charge (with activity tracking, smart notifications and all day heart rate turned on)
- NFC capabilities still works after battery is flat (8 hours)
- 24/7 activity tracker
- Measures steps, distance, calories, heart rate, floors climbed, active minutes
- Measures heart rate and calories burnt
- Find my iPhone Feature
- Smart notifications
Paired Mobile App UI ?
The mobile app tied to the device is pretty neat and intuitive
- Lightweight & ergonomic
- Waterproof up to 50m
- Up to 5 days battery life
- Secure* (Payment terminal thefts in Europe)
- Limited range of designs
- Limited ezlink payment terminals
- Functionalities can be carried out with mobile phone app
Overall, a 6/10 as the price is really a huge-concern here. (Especially with Singaporeans)
NFC Payment Ring
A short note on this wearable device since I’m doing on this topic – I had the chance to use these rings at the Visa Summer Interns summit in San Francisco back in July. In the video, I’m making payment for my drink at the Contactless Cafe using the NFC ring. In short, these are the pros and cons
- No battery needed. This is one of the best advantage of a device as it doesn’t rely on any charging, but just the chip in it
- Price. These are relatively affordable ranging from $20-$60.
- Sizes. Perfect fit is fairly important for wearables. However, these come In only two to three sizes. Rather absurd as rings are usually custom made for their sizes. Mine almost flew out as it was really insecure
Future of wearables
For wearable devices, many factors come into play like price, fit, fashion factor, ergonomic level etc. It seems to be taking off overseas especially for fitbits and other fitness related wearables. However, the device’s convenience has to work on its standard if it wants to see the increase of users locally.