Payments in fashion is not something consumers would typically think about. however, it exists and is starting to gain a following.

Mastercard reported that now one in five adults wears a smart watch or fitness strap.

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Furthermore, by 2020, the wearable tech market will be worth €30bn ($33.7bn) globally. This is a fast moving market that is certainly one to watch.

One of the first companies to enter fashion tech was Sony with their smart watch strap – Wena. The “Wear Electronics Naturally” strap incorporates quick contactless payment, advanced fitness tracking and direct link-ups for phone notifications. Furthermore, it is all merged created into luxury timepiece design.

However, technology is no stranger to fashion. From Smart fabrics to models wearing Google Glass on the runway it is clear that wearable tech will increasingly feature in shaping the future of fashion trends.

Payments in choosing fashion

Amazon have been patenting a virtual mirror where a user can try products on at home. That means that fashion technology is moving in the direction where it is going to be possible to stand in front of a mirror and realistically try clothing on, see the fit of it, how it looks and match up with make up products to fit an individuals complexion.

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The London College of Fashion’s Fashion Innovation Agency (FIA) is constantly seeking new ways to bring together the worlds of fashion and retail

The FIA explores various technologies from augmented reality, wearables and virtual reality to reinvent the way fashion is perceived.

One of the projects that the agency is working on is Westfield’s ‘Destination 2028’. This concept aims to show what could possibly be the shopping centre of the future. The project includes hanging sensory gardens and AI-enabled walkways, giving consumers a glimpse into the future of the shopping experience.

Fashion to make payments

bPay, the wearable technology arm of Barclaycard, partnered with seven watch brands to bring wearable payments to designer watches.

Having linked with Timex, GUESS Watches, Mondaine, Kronaby, Suunto, ADEXE, and LBS, the products were set to launched by bPay at Baselworld on the 22-27 March 2018.

bPay had already launched a line of various contactless wearable payment devices including jewellery,  phone cases and keychains, as well as various watches under Timex.