Power Suit Wearable Tech From Heritage Bank Lets You Pay With Your Sleeves and Donate to Autism Charity
A power suit made from fine merino wool, and tailored by MJ Bale, enables users of this wearable tech garment, to pay for purchases using their sleeves, and donate to a charitable organization at the same time.
Banks and finance companies continue to develop ?contactless? payments, that make purchasing in retail stores more and more convenient. NFC chips are used in various ?payWave? transaction terminals, that let customers just tap or wave their cards in order for the transactions to proceed. No more PINS to type in, or cards to insert or swipe.
Customers who use the payWave ( by VISA), however, still need to take out their wallets and the credit or debit card, and place it back again once the transaction is done.
A few start-ups like Uniqul of Finland, have developed other forms of contactless payments like facial recognition payment methods ( Do read our feature on Uniqul : Pay With Your Face ? 10 Great Business Ideas For 2014 at https://www.thebitbag.com/uniqul-pay-face-10-great-business-ideas-2014-part-2/66544 ).
Another company, Heritage Bank of Australia, is offering another one in the form of the ?Power Suit?. The Power Suit is a wearable technology garment that lets payers buy stuff with a tap or wave of their sleeve. The bank is using the same NFC chip used in the VISA payWave terminals, but instead of embedding them in a card, they are woven inside the sleeve of a suit. The chip is then linked to the account of the user.
This application of the NFC chip will remove the need to carry a card around, and removing it from a wallet to make a purchase. All the wearer needs to do is to make sure the sleeve with the NFC chip is ?brushed? on the payWave terminal and the payment is done, provided that the purchase is less than AUD 100 dollars.
To see the Power Suit in Action, do watch the video below provided by HeritagePeopleFirst / YouTube:
The Power Suit is offered to customers of Heritage Bank, and as of this writing, 12 ?prototype? suits have been purchased via Ebay, with the suit selling as high as AUD 510 dollars. The suit is made from fine merino wool and is tailored by MJ Bale.
The buyers of the suit not only get the convenience of fashionable contactless payment, they also get to donate to 4 ASD Kids, a charitable organization for children with autism. Heritage Bank donates all the money paid for the Power Suits to 4 ASD (Autism Spectrum Disorders) Kids.
As far as contactless payments go, the Power Suit is the ultimate blend of finance tech, fashion and charity. For those interested, visit or contact Heritage Bank at:
Photo Source: http://www.heritage.com.au/