Smartwatches are taking off, with Apple Pay, Android Pay, and Samsung Pay bringing mobile payments to wrist wearables, though other companies are teaming up in their own way for mobile payments and bypassing the major players to bring their own systems to their own customers. Australian telecommunications company Optus is bringing its own Cash By Optus payment band that costs less than AUS $100 and lets you leave your smartphone at home.
The Cash By Optus Payment Band uses NFC, or Near Field Communication, technology inside a chip and implements it inside the rubber band that comes in four colors along with Visa payWave technology. The Cash By Optus Payment Band is also splash-proof at the very least, though Mashable says the device is "water-blocking." There are some caveats to the Cash By Optus Payment Band, such as the fact that it's only available for Optus customers and takes some days to set up your bank account. The price is reasonable, what you'd expect to pay for a Fitbit fitness band (half the price of Fitbit's new Fitbit Blaze and right around the price of the Fitbit Alta).
As far as getting the Cash By Optus Payment Band to work, you'll need to sync the band with either Optus's Cash By Optus app on Android or iOS, link the payment band and the Optus mobile payment system by way of a QR code, then add money to your account to start using it.
Would you be interested in a Cash By Optus Payment Band? If so, let us know.
