Paying by Smartwatch

As digital technology continues to disrupt the financial services sector with the likes of Bitcoin and digital wallets, cash is effectively becoming obsolete. This article on BBC raises some interesting questions about this.The emergence of Smartwatches means that people may very soon have the opportunity to pay for everything with their watch. While this is an extraordinary advance within technology that could potentially make credit cards redundant, caution and due diligence must be employed before we make the technology mainstream. Every new development within commercial technology provides more opportunities for hackers and scammers and security will as always be of paramount importance in this regard. One need only reflect upon the recent breach of data via Ashley Madison in order to understand how any lapse in security can cause a wave of hysteria within the marketplace. However, as we continue to conduct business in ever more efficient means, there is no doubt that Smartwatches offer up enormous benefits both to customers and retailers. But as the ancient Romans expressed it, caveat emptor!