Many companies are already looking past the mobile phone to find the next high-tech payment device. A few companies are also equipping fashion items with Near Field Communication chips and other technology that can be repurposed by the industry. (Image: ShutterStock)
NFC Ring and Smarty Ring are developing jewelry with wireless hardware built-in. Though the devices are in their infancy, some are already exploring their potential to make contactless payments. (Image: NFC Ring)
Some smartwatches, such as Samsung's Galaxy Gear, use NFC chips to pair the watch with a user's phone. Galaxy Gear doesn't yet use NFC for payments, but it supports mobile commerce through apps. Apple and Google are also rumored to be developing their own smartwatches. (Image: Bloomberg News)
Another approach to the payments watch comes from Watch2Pay. It doesn't have the bells and whistles of a full-featured smartwatch, but it comes with a full-featured prepaid card that supports direct deposit, ATM withdrawals, mobile account access, bill payments and alerts.
Walt Disney Co. is ramping up its use of MagicBands, wristbands that facilitate payments and allow park patrons to access their hotel rooms and skip longer lines. The wristband concept has been tried before, and Hersheypark discontinued its version, but does Disney have the magic to make it work? (Image: Bloomberg News)
Motorola now distributes Skip, a magnetic NFC clip meant to stick to users' clothing. Right now the technology can be used to unlock some Motorola phones, but if it takes off, an NFC-embedded clip could see wider use in the payments industry and beyond. (Image: Motorola)
The payments industry is using QR codes more and more as part of mobile wallet initiatives, but there's nothing about a QR code that makes its use specific to a mobile device. The two-dimensional bar codes can be printed on anything cards, clothing, jewelry and more. (Image: ShutterStock)
Payments technology entrepreneur Will Graylin is launching OV Valet Superkey, a payment card and digital wallet that can initiate touchless payments at more than 90% of all payment terminals. It pairs with an app that supports messaging and live chat functions.
Capital markets play a key role in a modern economy because they move money, stocks or bonds from people who have them to those who need them to execute trades, secure equities or invest. But as core a function as this is, it hasn't been very fast.
Visa on Monday made an investment in Global Processing Services, which powers the payment rails for several challenger banks and fintechs. It's similar to a January investment Mastercard made in Marqeta, an open API card issuing and processing platform.