Westpac reveals new 'Paywear' wearable to streamline transactions

The Australian banking unveiled a new range of wearable payment accessories to simplify tap-and-pay

Australian Designer Hayden Cox is set to be one of the first local designers to partner with Westpac on the new wearable range
Australian Designer Hayden Cox is set to be one of the first local designers to partner with Westpac on the new wearable range

Australian banking giant, Westpac, is unveiling a new 'PayWear' wearable payment accessories and is set to partner with local designers to further build the range.

Westpac customers will soon be able to tap-and-pay hands-free with the waterproof and battery-free wearable, which includes a silicone band and a ‘keeper’ that can be easily attached to an existing watch or fitness band.  

Containing a microchip, or PayWear card, it is linked to the customer’s everyday transaction account so customers can tap and pay in the same way they regularly do with their debit card, without having to reach for their wallet or smartphone.

Westpac Group consumer bank chief executive, George Frazis, said customers across the country embrace greater convenience and expect to be able to simply tap-and-pay.

“Australia has the highest contactless penetration in the world, and cards continue to replace cash as consumers demand convenience," he said. "We’re always looking for new ways to help make our customers’ lives easier, and with our new PayWear products, customers will be able to pay on-the-go, in one hands-free step."

According to Frazis, when Westpac spoke to customers, it discovered personal style and choice were also important when choosing a wearable.

"In fact, 70 per cent agreed that they would only wear a wearable device if it suited their own personal style and lifestyle," he said. "This is why we will collaborate with iconic Australian designers to create a variety of wearable accessory designs to suit different tastes, preferences and style."

The first Australian designer producing a range of unique products for Westpac PayWear is surfboard shaper and entrepreneur, Hayden Cox, of Haydenshapes. A range of leading Australian designers will also be chosen from fitness fanatics, to busy parents, professionals and festival-goers.

“Functional design is something I’ve always been passionate about – particularly technology and products that improve experiences for people," Cox said. "It was this passion which led me to creating and filing a patent on my parabolic carbon fibre surfboard construction, FutureFlex, and wanting to uniquely design my product to improve the surfing experience.

"This product signals an inevitable and innovative progression of our everyday routines. While some customers may opt for the simpler Essentials range, there is also a part of the market that will want something with a little more flavour. This is where the products I’m designing will sit.” 

All Westpac customers with an everyday banking account eligible for a Debit Mastercard will be able to order a PayWear Card online via Westpac Live, which can be inserted into the PayWear accessory of their choice. Westpac customers will be able to use PayWear to make purchases on all contactless-enabled terminals.

PayWear Essentials will be available early December with the designer range due to be available to customers in early 2018. Customers will be able to get a PayWear Essentials accessory free of charge for a limited time.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

Conversations over a cuppa with CMO: The Star's George Hughes

It's been an incredibly tough three months for the Star as it shut its doors and stood down staff in response to the COVID-19 lockdown. Yet innovation has shone through, and if the CMO, George Hughes, has anything to say about it, such lateral thinking will continue as we start to recover from the crisis.

More Videos

I am 56 years old and was diagnosed with Parkinson's disease after four years of decreasing mobility to the point of having family dress ...

Nancy Tunick

Parkinson's NSW creates a lorem ipsum generator and goes digital to mark Parkinson's Awareness month

Read more

We would like to invite you to the Virtual Exhibition about IoT Trends in 2020, 7 - 9 July, organised by Must.We developed a new B2B matc...

hayfa

Want to master digital transformation? Stop thinking about your own problems

Read more

We have been trying to help our clients through this time. I think the important thing is clear communication! We also created some check...

Erin Payne

Is COVID-19 the right time for a positive marketing campaign?

Read more

Very good article Sagar. Congrats! It's exactly what we are doing at Dafiti and it's very important have you close to us into this journey.

Roosevelt Junior

Making Your Organisation Data-Driven [MYOD] - Data-driven marketing - CMO Australia

Read more

Corporates should be innovating to stay relevant and disrupt the market and collaborating with startups is easily the best way to go for ...

Diana

How your company can innovate its way through the COVID-19 crisis

Read more

Blog Posts

Business quiet? Now is the time to review your owned assets

For businesses and advertiser categories currently experiencing a slowdown in consumer activity, now is the optimal time to get started on projects that have been of high importance, but low urgency.

Olia Krivtchoun

CX discipline leader, Spark Foundry

Bottoms up: Lockdown lessons for an inverted marketing world

The effects of the coronavirus slammed the brakes on retail sales in pubs, clubs and restaurants. Fever-Tree’s Australia GM Andy Gaunt explains what they have learnt from some tricky months of trading

Andy Gaunt

General manager, Fever-Tree Australia and New Zealand

Younger demos thought lost are now found: But what about the missing money?

There is much talk about what VOZ will bring to the media industry. New ways to slice and dice audiences and segments. A clearer understanding of screen consumption. Even new ways to plan and buy. The most interesting result could be finding something many thought we lost - younger viewers, specifically the valuable 18-39s.

Michael Stanford

Head of 10 Imagine and national creative director, Network 10

Sign in