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)
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.
Though still in limited release, Google Glass has turned heads at many payment companies. MasterCard is working to combine Google Glass with its MasterPass digital wallet. LevelUp, ZooZ and shopkick are also eyeing Google Glass for its payments potential. And RedBottle Design has already created a Google Glass app that allows users to spend bitcoins.
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)