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

Blog Posts

3 skills you need to drive better collaboration

A study published in The Harvard Business Review found the time spent in collaborative activities at work has increased by over 50 per cent in the past two decades. Larger projects; complicated problems; tighter timeframes: These require bigger teams with specialised skillsets and diverse backgrounds, often dispersed globally.

Jen Jackson

CEO, Everyday Massive

Better the bank you know?

In 2018, only 21 per cent of customers believed that banks in general had their customers best interests at heart and behave ethically. Only 26 per cent believed that banks will keep their promises; views cemented further following the Hayne Financial Services Royal Commission.

Carolyn Pitt

Head of account management, Hulsbosch

What 15 years of emotional intelligence told us about youth media audiences

Taking people on an emotional journey through content is the most critical part of being a publisher. Which is why emotion lies at the heart of VICE Media.

Stephanie Winkler

Head of insights, VICE Asia-Pacific

It's a pretty good idea. I think this integration is useful. Don't you agree?

Misty Stoll

Officeworks hops on voice interface bandwagon with Google Assistant integration

Read more

ok. so no RCS support? by the way, RCS is a lot bigger than 5G in terms of marketing and monetisation so y'all should be covering it.

DragoCubed

Optus goes for education with 5G network campaign

Read more

Many companies and individual merchants have shifted their major part of marketing to web marketing services Portland as it weighs fewer ...

Radiata Solutions

6 Ways to ramp up Social Media to Your Web Design

Read more

This is a unique experience! Will be interesting to talk to their managers.

Joyce Harris

​How Krispy Kreme revitalised its brand in a saturated market

Read more

I feel bad for them. It's a shame they are closed now. What do you think about it?

Lisa Deleon

Dick Smith stores set to all close by 30 April

Read more

Latest Podcast

More podcasts

Sign in