Optus to roll out wristwatch payment app for Apple and Android

It has revealed a proof of concept that uses wearable technology to enable mobile payments on Apple and Android handsets via the ‘Cash by Optus’ app.

Cash by Optus is a contactless payment app, powered by Visa payWave, which enables customers to use a compatible smartphone to pay for goods and services instead of using cash or plastic debit and credit cards.

It enables contactless payments across multiple platforms and uses wearable technology – a connected watch or a wristband – linked to an Android or Apple handset.

Payments can be made using only the wearable without the linked phone nearby. When in close range, the connected watch and linked smartphone sync up via Bluetooth to update the account balance on the connected watch and transaction details on the linked phone.

Launched in collaboration with Visa and Heritage Bank, Cash by Optus uses near field communication (NFC) and Visa payWave technology that can replace cash purchases below USD 100.

Cash by Optus works similar to a Visa Prepaid debit card. Customers can load up to USD 500 at any one time and make contactless purchases under USD 100 at any of the retailers that accept Visa payWave.

To get access to Cash by Optus, customers need an Optus mobile service on a monthly plan, a compatible Android smartphone, a NFC-enabled SIM and the Cash by Optus app.