Digital wallets are hardly what one would refer to as new technology. For years now, people have been able to tap their phones to check out points at their favorite stores and cover their bills via Google Pay, Apple Pay, and Samsung Pay. Many other companies have also launched their own digital wallets, including Fitbit and Garmin.
Is it worth adding new payment methods to your digital wallet choices, though? How convenient are these options compared to the ones you may already have on your phone?
Payment Options for Fitbit and Garmin
CNET estimates that one in every ten Americans owns a smartwatch. What may surprise a lot of people is that the over-55 market segment is the main driving factor.
This stems from the fact that many of these watches come with health features that help them to stay active and track their movements. Before Fitbit became as high-tech as it is now, the only point of owning one was to track your steps.
It makes sense then that companies like Fitbit and Garmin would consider adding payment technology to their smartwatches. This adds an element of convenience not just for millennials on the go, but also for older people who are staying active and getting those steps in.
The Perks of Smartwatch Digital Wallets
Many people are willing to pay premium prices to get rid of mundane tasks or overcome even minor obstacles. So, here are a few ways smartwatch digital wallets make things easier for you.
Leave Everything at Home
Some people can’t leave home without their phones on their person. They feel completely isolated, and the fear of missing out starts creeping in. Even for people who are not smartphone addicts, they may worry about being able to make a call if they have an emergency.
When it comes to payments, though, if you have a smartwatch from Fitbit or Garmin, you can leave the smartphones at home — or strapped to your arm or stuffed into your backpack. You won’t have to try to unfasten it from your armband or dig around in your bag. Just use your watch.
Fewer Checkout Embarrassments
Be honest. It’s happened to you before. You get home from a long day at work and decide to whip up a quick meal when you realize you’re out of milk or eggs. You rush to the store, grab the things you need, get to the checkout, tap your pocket, and it’s empty. You left your wallet and maybe even your phone at home. Now what?
In the past, that meant the embarrassment of explaining to the cashier that you forgot to grab your purse or wallet. Now, you might need to head back home to get it or just call it a night and make some ramen. With smartwatch tech, you can just tap your watch to the reader, collect your receipt, and head home. No phone required.
It’s More Secure
Even though the 55-and-over market is a leading segment in the use of wearable tech, they lag behind when it comes to using them to make payments. CNBC states that its millennials who are paving the way when it comes to using digital wallets. One of the main reasons people remain wary is that they believe digital wallets are less secure.
Actually, the opposite is true. Digital wallets are safer because of better data encryption, monitoring, and authentication. Sandboxing also helps separate apps to prevent malware from spreading. Note that unauthorized cameras are one of the main ways that fraudsters steal credit card numbers and debit card pins, but because you never swipe, you disrupt this process.
Are you thinking of making the switch for faster and more secure transactions? Contact Blackhawk Bank for more information about how you can use your card to make online payments via your brand-new smartwatch.