eWAY launches wearable payments app

Australian payments platform company, eWAY, has launched an app that let’s Apple Watch users accept payments through their smartwatch.

eWAY, which processes a quarter of all online spend in Australia, said wearable payments is a growing trend, citing research from Ovum that found majority of Apple Watch users in the UK use their smartwatch for payments.

The app works with eWAY SmartPOS card reader and is linked to merchants’ eWAY accounts, so merchants can initiate payments through the smartwatch and have customers tap their card to make a transaction.

Merchants must pre-set particular payment amounts on the smartwatch app, however, starting at $1, to $10, $20 and $30.

Transactions are processed through eWAY’s secure online gateway platform, with the merchant’s inventory and accounting updating in real time.

Merchants can also send customers receipts via SMS using the app.

Copyright © 2015 IDG Communications, Inc.

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