![\"\"](\"https://www.pymnts.com/wp-content/uploads/2023/06/health-monitoring-graphic.png\")
The augmented reality and smart tech wearable market is heating up as Google, Snap, and Meta have recently either unveiled products or announced partnerships to develop wearables and adding artificial intelligence (AI) to the mix.
\nNames like Google, Apple, and Samsung are at the forefront of the wearables category.
\nOn Friday (Sept. 13), Google\u00a0announced\u00a0its partnership with medical technology company\u00a0Masimo\u00a0to develop a new reference platform\u00a0aimed at enhancing\u00a0the efficiency of original equipment manufacturers (OEMs) in producing Wear OS smartwatches. This platform will integrate Masimo\u2019s advanced biosensing technologies and standardize smartwatch devices within the Wear OS ecosystem, which includes a range of health and wellness tracking tools.
\nNot to be outdone, Ray-Ban maker EssilorLuxottica this week announced a new long-term agreement with Meta Platforms, aimed at advancing smart eyewear technology. This partnership, which extends their collaboration into the next decade, pushes the boundaries of smart eyewear technology, building on the success of their previous Ray-Ban Meta glasses and setting the stage for future innovations in wearables.
\nSince their collaboration began in 2019, EssilorLuxottica and Meta have introduced two generations of Ray-Ban branded smart glasses, reshaping the landscape of wearable technology. By combining EssilorLuxottica\u2019s expertise in eyewear with Meta\u2019s technological advancements, the Ray-Ban Meta glasses have achieved mainstream success, with high demand in markets across the U.S., Canada, the U.K., Australia and several European countries.
\n\u201cOver the past six decades, EssilorLuxottica has led the transformation of the eyewear and eyecare industry,\u201d EssilorLuxottica Chairman and CEO\u00a0Francesco Milleri\u00a0said in a release. \u201cOur work with Meta has already proven to be a significant milestone in our quest to make glasses the gateway to the connected world. We look forward to continuing to shape the future of this category together.\u201d
\nMeta founder and CEO\u00a0Mark Zuckerberg\u00a0said of the ongoing collaboration, \u201cI\u2019m proud of the work we\u2019ve done with EssilorLuxottica so far, and I\u2019m excited about our long-term roadmap ahead. We have the opportunity to turn glasses into the next major technology platform and make it fashionable in the process.\u201d
\nMeta is reportedly exploring the acquisition of a 5% stake in EssilorLuxottica, valued at approximately 4.5 billion euros ($4.9 billion). The two companies are partners on the Ray-Ban Meta smart glasses, which have surpassed sales forecasts and play a crucial role in Meta\u2019s hardware strategy. Acquiring a stake in EssilorLuxottica would enable Meta to broaden its device portfolio, fortify its relationship with the well-regarded Ray-Ban brand and sustain ties with LensCrafters, which supplies prescription lenses for smart glasses.
\nThe introduction of AI-powered eyewear from leading tech companies is poised to transform consumer shopping habits both online and in-store. Experts anticipate these glasses will offer immersive virtual shopping experiences, allow for real-time price comparisons and integrate digital catalogs directly into users\u2019 vision. As retailers and brands race to adapt, this technology is set to blur the boundaries between digital and physical retail spaces.
\nOne company that has been\u00a0on\u00a0the forefront of the wearables tech is\u00a0Snap Inc., which this\u00a0week\u00a0unveiled\u00a0the fifth generation of its\u00a0Spectacles, standalone AR glasses designed to enhance real-world interactions through Snap OS, a new operating system. Weighing\u00a0just\u00a0226 grams, these glasses feature four cameras for advanced hand tracking, a see-through AR display, and vibrant micro-projectors.
\nSpectacles can integrate with mobile devices via a new app, allowing features like game controls and Spectator Mode. Powered by dual Snapdragon processors, they offer up to 45 minutes of runtime. The new Snap OS facilitates natural interaction and developer-friendly tools, including a revamped Lens Studio and a partnership with OpenAI for advanced AI capabilities. Spectacles are available through the Spectacles Developer Program for $99 per month.
\nThe Ray-Ban Meta glasses, too, now have AI capabilities.
\nA Meta spokesperson told PYMNTS, \u201cSince we launched last year, we\u2019ve continued to roll out new features and styles/colors. In the U.S. and Canada, we introduced new Meta AI capabilities to help you get things done, create, and connect with people and things you care about. We recently rolled out multimodal AI on the glasses so you\u2019re able to ask the assistant what you\u2019re looking at or a quick question while you\u2019re on the go.\u201d
\nGiven the success of Ray-Ban Meta glasses in various international markets, the spokesperson noted EssilorLuxottica and Meta plan to address diverse consumer needs and preferences across different regions through voice commands and Meta AI that support several languages.
\n\u201cCurrently, you can use voice commands in English, French, and Italian and translate texts/signs from Spanish, Italian, French, and German to English,\u201d the spokesperson added.
\nThe post Meta Explains Why Smart Eyewear Will Finally Have Its Moment appeared first on PYMNTS.com.
\n", "content_text": "The augmented reality and smart tech wearable market is heating up as Google, Snap, and Meta have recently either unveiled products or announced partnerships to develop wearables and adding artificial intelligence (AI) to the mix.\nNames like Google, Apple, and Samsung are at the forefront of the wearables category.\nOn Friday (Sept. 13), Google\u00a0announced\u00a0its partnership with medical technology company\u00a0Masimo\u00a0to develop a new reference platform\u00a0aimed at enhancing\u00a0the efficiency of original equipment manufacturers (OEMs) in producing Wear OS smartwatches. This platform will integrate Masimo\u2019s advanced biosensing technologies and standardize smartwatch devices within the Wear OS ecosystem, which includes a range of health and wellness tracking tools.\nNot to be outdone, Ray-Ban maker EssilorLuxottica this week announced a new long-term agreement with Meta Platforms, aimed at advancing smart eyewear technology. This partnership, which extends their collaboration into the next decade, pushes the boundaries of smart eyewear technology, building on the success of their previous Ray-Ban Meta glasses and setting the stage for future innovations in wearables.\nExtending a Partnership\nSince their collaboration began in 2019, EssilorLuxottica and Meta have introduced two generations of Ray-Ban branded smart glasses, reshaping the landscape of wearable technology. By combining EssilorLuxottica\u2019s expertise in eyewear with Meta\u2019s technological advancements, the Ray-Ban Meta glasses have achieved mainstream success, with high demand in markets across the U.S., Canada, the U.K., Australia and several European countries.\n\u201cOver the past six decades, EssilorLuxottica has led the transformation of the eyewear and eyecare industry,\u201d EssilorLuxottica Chairman and CEO\u00a0Francesco Milleri\u00a0said in a release. \u201cOur work with Meta has already proven to be a significant milestone in our quest to make glasses the gateway to the connected world. We look forward to continuing to shape the future of this category together.\u201d\nMeta founder and CEO\u00a0Mark Zuckerberg\u00a0said of the ongoing collaboration, \u201cI\u2019m proud of the work we\u2019ve done with EssilorLuxottica so far, and I\u2019m excited about our long-term roadmap ahead. We have the opportunity to turn glasses into the next major technology platform and make it fashionable in the process.\u201d\nMeta is reportedly exploring the acquisition of a 5% stake in EssilorLuxottica, valued at approximately 4.5 billion euros ($4.9 billion). The two companies are partners on the Ray-Ban Meta smart glasses, which have surpassed sales forecasts and play a crucial role in Meta\u2019s hardware strategy. Acquiring a stake in EssilorLuxottica would enable Meta to broaden its device portfolio, fortify its relationship with the well-regarded Ray-Ban brand and sustain ties with LensCrafters, which supplies prescription lenses for smart glasses.\nAdding AI to the Tech\nThe introduction of AI-powered eyewear from leading tech companies is poised to transform consumer shopping habits both online and in-store. Experts anticipate these glasses will offer immersive virtual shopping experiences, allow for real-time price comparisons and integrate digital catalogs directly into users\u2019 vision. As retailers and brands race to adapt, this technology is set to blur the boundaries between digital and physical retail spaces.\nOne company that has been\u00a0on\u00a0the forefront of the wearables tech is\u00a0Snap Inc., which this\u00a0week\u00a0unveiled\u00a0the fifth generation of its\u00a0Spectacles, standalone AR glasses designed to enhance real-world interactions through Snap OS, a new operating system. Weighing\u00a0just\u00a0226 grams, these glasses feature four cameras for advanced hand tracking, a see-through AR display, and vibrant micro-projectors.\nSpectacles can integrate with mobile devices via a new app, allowing features like game controls and Spectator Mode. Powered by dual Snapdragon processors, they offer up to 45 minutes of runtime. The new Snap OS facilitates natural interaction and developer-friendly tools, including a revamped Lens Studio and a partnership with OpenAI for advanced AI capabilities. Spectacles are available through the Spectacles Developer Program for $99 per month.\nThe Ray-Ban Meta glasses, too, now have AI capabilities.\nA Meta spokesperson told PYMNTS, \u201cSince we launched last year, we\u2019ve continued to roll out new features and styles/colors. In the U.S. and Canada, we introduced new Meta AI capabilities to help you get things done, create, and connect with people and things you care about. We recently rolled out multimodal AI on the glasses so you\u2019re able to ask the assistant what you\u2019re looking at or a quick question while you\u2019re on the go.\u201d \nGiven the success of Ray-Ban Meta glasses in various international markets, the spokesperson noted EssilorLuxottica and Meta plan to address diverse consumer needs and preferences across different regions through voice commands and Meta AI that support several languages. \n\u201cCurrently, you can use voice commands in English, French, and Italian and translate texts/signs from Spanish, Italian, French, and German to English,\u201d the spokesperson added.\nThe post Meta Explains Why Smart Eyewear Will Finally Have Its Moment appeared first on PYMNTS.com.", "date_published": "2024-09-19T10:00:47-04:00", "date_modified": "2024-09-19T22:10:59-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/smart-eyewear-AI.png", "tags": [ "AI", "AR", "artificial intelligence", "Augmented Reality", "EssilorLuxottica", "eyewear", "Featured News", "Meta", "News", "partnerships", "PYMNTS News", "Ray-Ban", "Retail", "smart eyewear", "smart glasses", "Snap", "Technology", "Wearables" ] }, { "id": "https://www.pymnts.com/?p=2064416", "url": "https://www.pymnts.com/news/wearables/2024/chanel-launches-necklace-watch-that-connects-to-smartphone/", "title": "Chanel Launches Necklace-Watch That Connects to Smartphone", "content_html": "Chanel has reportedly launched\u00a0a watch that is worn as a necklace and includes integrated wired headphones, a microphone and remote control.
\nWhen connected to the user\u2019s smartphone, the Premi\u00e8re Sound enables taking calls, listening to music and controlling audio and video playback, Jing Daily reported Sunday (Aug. 25).
\nThe introduction of this watch is part of a trend that is seeing the integration of smart devices into consumers\u2019 daily routines become increasingly prevalent. As payments reported in March, these devices \u2014 from smartphones to smartwatches \u2014 have transformed communication, access to information and financial transactions.
\nIn another recent product launch in the\u00a0wearables space, financial education-focused FinTech\u00a0Greenlight said Aug. 7 that it has partnered with Google to connect Greenlight\u2019s debit card to\u00a0Google\u2019s Fitbit Ace LTE, a smartwatch designed for kids.
\nThis combination helps kids learn to \u201cspend wisely\u201d and tap to pay with their watches, the company said in a press release.
\n\u201cTeaming up with Google to integrate Greenlight into kids\u2019 smartwatches allows us to bring families even more peace of mind and convenience as their kids become more independent,\u201d\u00a0Tim Sheehan, co-founder and CEO\u00a0at Greenlight, said in the release.
\nSamsung\u00a0unveiled its latest\u00a0wearables, with features powered by artificial intelligence (AI), in July, saying the new Galaxy Ring, Galaxy Watch7 and Galaxy Watch Ultra include the company\u2019s Galaxy AI.
\n\u201cThe intelligence, guidance and insights that are offered with Galaxy Ring, Galaxy Watch7 and Galaxy Watch Ultra will help users turn data into meaningful insights and create a whole new era of expanded intelligent health experiences,\u201d TM Roh, president and head of Mobile eXperience Business at Sumsung Electronics, said at the time in a press release.
\nThis product unveiling marked the South Korean tech giant\u2019s first entry into the smart ring category, expanded its\u00a0wearable technology offerings and strengthened its position in the health monitoring market, PYMNTS reported July 10.
\nAnother new entry in the\u00a0wearables category is offered by\u00a0VTouch, which supplies a smart ring that lets users communicate with their preferred AI assistants by merely whispering into the device.
\n\u201cThe availability of natural-sounding, vocally responsive AI will fundamentally change the way we work and live,\u201d\u00a0Zach Koch, CEO and co-founder of\u00a0Fixie.ai, an AI verbal communication company, told PYMNTS in April.
\nFor all PYMNTS digital transformation coverage, subscribe to the daily\u00a0Digital Transformation Newsletter.
\nThe post Chanel Launches Necklace-Watch That Connects to Smartphone appeared first on PYMNTS.com.
\n", "content_text": "Chanel has reportedly launched\u00a0a watch that is worn as a necklace and includes integrated wired headphones, a microphone and remote control.\nWhen connected to the user\u2019s smartphone, the Premi\u00e8re Sound enables taking calls, listening to music and controlling audio and video playback, Jing Daily reported Sunday (Aug. 25).\nThe introduction of this watch is part of a trend that is seeing the integration of smart devices into consumers\u2019 daily routines become increasingly prevalent. As payments reported in March, these devices \u2014 from smartphones to smartwatches \u2014 have transformed communication, access to information and financial transactions.\nIn another recent product launch in the\u00a0wearables space, financial education-focused FinTech\u00a0Greenlight said Aug. 7 that it has partnered with Google to connect Greenlight\u2019s debit card to\u00a0Google\u2019s Fitbit Ace LTE, a smartwatch designed for kids.\nThis combination helps kids learn to \u201cspend wisely\u201d and tap to pay with their watches, the company said in a press release.\n\u201cTeaming up with Google to integrate Greenlight into kids\u2019 smartwatches allows us to bring families even more peace of mind and convenience as their kids become more independent,\u201d\u00a0Tim Sheehan, co-founder and CEO\u00a0at Greenlight, said in the release.\nSamsung\u00a0unveiled its latest\u00a0wearables, with features powered by artificial intelligence (AI), in July, saying the new Galaxy Ring, Galaxy Watch7 and Galaxy Watch Ultra include the company\u2019s Galaxy AI.\n\u201cThe intelligence, guidance and insights that are offered with Galaxy Ring, Galaxy Watch7 and Galaxy Watch Ultra will help users turn data into meaningful insights and create a whole new era of expanded intelligent health experiences,\u201d TM Roh, president and head of Mobile eXperience Business at Sumsung Electronics, said at the time in a press release.\nThis product unveiling marked the South Korean tech giant\u2019s first entry into the smart ring category, expanded its\u00a0wearable technology offerings and strengthened its position in the health monitoring market, PYMNTS reported July 10.\nAnother new entry in the\u00a0wearables category is offered by\u00a0VTouch, which supplies a smart ring that lets users communicate with their preferred AI assistants by merely whispering into the device.\n\u201cThe availability of natural-sounding, vocally responsive AI will fundamentally change the way we work and live,\u201d\u00a0Zach Koch, CEO and co-founder of\u00a0Fixie.ai, an AI verbal communication company, told PYMNTS in April.\nFor all PYMNTS digital transformation coverage, subscribe to the daily\u00a0Digital Transformation Newsletter.\nThe post Chanel Launches Necklace-Watch That Connects to Smartphone appeared first on PYMNTS.com.", "date_published": "2024-08-26T18:27:41-04:00", "date_modified": "2024-08-26T18:27:41-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/Chanel-wearables.jpg", "tags": [ "AI", "AI Assistants", "artificial intelligence", "Chanel", "digital transformation", "News", "PYMNTS News", "Retail", "Wearables", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2050323", "url": "https://www.pymnts.com/news/wearables/2024/google-wallet-and-acorns-launch-payment-solution-designed-for-kids/", "title": "Google Wallet and Acorns Launch Payment Solution Designed for Kids", "content_html": "Parents can now provide their 7- to 12-year-old kids with a wearable payment device powered by\u00a0Google Wallet and\u00a0GoHenry by Acorns.
\nThe two organizations have partnered to provide this tool to help parents teach their kids how to manage money and spend it safely and responsibly, according to a Wednesday (Aug. 7)\u00a0press release.
\nIn this collaboration, GoHenry by Acorns, a debit card\u00a0and financial education app designed kids between the ages of 6 and 18, will be integrated by Google Wallet into the\u00a0Fitbit Ace LTE, a smartwatch designed for kids between the ages of 7 and 12, according to the release. GoHenry will be featured as a card issuer within the device wallet.
\nThe GoHenry by Acorns app enables parents to set up an automated allowance, make instant transfers and select spending limits, and provides kids with lessons, quizzes and videos that teach core money skills, per the release.
\n\u201cGoHenry empowers kids growing up in a digital world to learn about and use money in a safe environment,\u201d\u00a0Acorns CEO\u00a0Noah Kerner said in the release. \u201cOur collaboration with Google Wallet brings this to life on a wearable payment device, embodying our mission to make every kid smart with money and providing parents with more tools to nurture healthy habits in their kids.\u201d
\nBen Greenwood, Fitbit Ace LTE product lead, said in the release: \u201cWe\u2019re excited to collaborate with GoHenry to bring tap-to-pay capabilities to the Fitbit Ace LTE, giving parents a valuable tool to instill responsible spending habits and help kids gain confidence while they learn important money skills.\u201d
\nAcorns\u00a0acquired GoHenry in April 2023, with Kerner saying at the time that the move would \u201caccelerate our roadmap and deliver financial wellness to the whole family through all of life\u2019s stages.\u201d
\nAt the time, together, the two firms had nearly 6\u00a0million subscribers.
\nIn another partnership announced this week, Google partnered with\u00a0financial education-focused FinTech\u00a0Greenlight to connect Greenlight\u2019s debit card to Google\u2019s Fitbit Ace LTE.
\nThis collaboration aims to help kids learn to \u201cspend wisely,\u201d tap to pay with their smartwatches, and have safe and easy access to funds as needed, without using a phone or physical card.
\nFor all PYMNTS digital transformation coverage, subscribe to the daily\u00a0Digital Transformation Newsletter.
\nThe post Google Wallet and Acorns Launch Payment Solution Designed for Kids appeared first on PYMNTS.com.
\n", "content_text": "Parents can now provide their 7- to 12-year-old kids with a wearable payment device powered by\u00a0Google Wallet and\u00a0GoHenry by Acorns.\nThe two organizations have partnered to provide this tool to help parents teach their kids how to manage money and spend it safely and responsibly, according to a Wednesday (Aug. 7)\u00a0press release.\nIn this collaboration, GoHenry by Acorns, a debit card\u00a0and financial education app designed kids between the ages of 6 and 18, will be integrated by Google Wallet into the\u00a0Fitbit Ace LTE, a smartwatch designed for kids between the ages of 7 and 12, according to the release. GoHenry will be featured as a card issuer within the device wallet.\nThe GoHenry by Acorns app enables parents to set up an automated allowance, make instant transfers and select spending limits, and provides kids with lessons, quizzes and videos that teach core money skills, per the release.\n\u201cGoHenry empowers kids growing up in a digital world to learn about and use money in a safe environment,\u201d\u00a0Acorns CEO\u00a0Noah Kerner said in the release. \u201cOur collaboration with Google Wallet brings this to life on a wearable payment device, embodying our mission to make every kid smart with money and providing parents with more tools to nurture healthy habits in their kids.\u201d\nBen Greenwood, Fitbit Ace LTE product lead, said in the release: \u201cWe\u2019re excited to collaborate with GoHenry to bring tap-to-pay capabilities to the Fitbit Ace LTE, giving parents a valuable tool to instill responsible spending habits and help kids gain confidence while they learn important money skills.\u201d\nAcorns\u00a0acquired GoHenry in April 2023, with Kerner saying at the time that the move would \u201caccelerate our roadmap and deliver financial wellness to the whole family through all of life\u2019s stages.\u201d\nAt the time, together, the two firms had nearly 6\u00a0million subscribers.\nIn another partnership announced this week, Google partnered with\u00a0financial education-focused FinTech\u00a0Greenlight to connect Greenlight\u2019s debit card to Google\u2019s Fitbit Ace LTE.\nThis collaboration aims to help kids learn to \u201cspend wisely,\u201d tap to pay with their smartwatches, and have safe and easy access to funds as needed, without using a phone or physical card.\nFor all PYMNTS digital transformation coverage, subscribe to the daily\u00a0Digital Transformation Newsletter.\nThe post Google Wallet and Acorns Launch Payment Solution Designed for Kids appeared first on PYMNTS.com.", "date_published": "2024-08-09T18:46:32-04:00", "date_modified": "2024-08-09T18:46:32-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/Teenagers-Google-Wallet-GoHenry-digital-wallets.jpg", "tags": [ "Acorns", "digital wallets", "financial education", "financial management", "Fitbit", "Fitbit Ace LTE", "GoHenry", "GoHenry by Acorns", "Google", "Google Wallet", "Mobile Wallets", "News", "Payment Methods", "personal finances", "PYMNTS News", "tap to pay", "Wearables", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2042232", "url": "https://www.pymnts.com/news/wearables/2024/greenlight-and-google-team-on-fitbit-focused-financial-education/", "title": "Greenlight and Google Team on Fitbit-Focused Financial Education", "content_html": "Financial education-focused FinTech Greenlight has launched a collaboration with Google.
\nThe partnership, announced Wednesday (Aug. 7), connects Greenlight\u2019s debit card to Google\u2019s Fitbit Ace LTE, a smartwatch designed for kids, letting them learn to \u201cspend wisely\u201d and tap to pay with their watches.
\n\u201cAt Greenlight, we\u2019re always looking for new ways to help parents raise financially smart kids and teach them healthy financial habits,\u201d said Tim Sheehan, co-founder and CEO at Greenlight. \u201cTeaming up with Google to integrate Greenlight into kids\u2019 smartwatches allows us to bring families even more peace of mind and convenience as their kids become more independent.\u201d
\nAccording to a news release, the partnership is designed to give kids a way to practice smart spending and financial independence without using a phone or physical card, while parents gain the peace of mind that their children have safe and easy access to funds as needed.
\n\u201cUsing the Greenlight app, parents can also send money instantly, automate allowance payments, manage chores, set flexible spending controls, get real-time notifications, and more \u2014 empowering their kids to learn smart money management,\u201d the release said.
\nThe collaboration comes at a time when many teenagers in more prosperous countries \u2014 such as the U.K. and U.S. \u2014 are lagging in financial literacy.
\nAlthough more than two-thirds of students routinely use financial products and services, levels of financial literacy are too low to make sure they can avoid financial risks, the Organization for Economic Cooperation and Development (OECD) said in June after releasing the latest installment of its financial literacy assessment.
\nThat study looked at the financial skills of 15-year-olds in 14 OECD and six partner countries and economies and found that while many of them engage in basic financial activities from a young age, nearly 20% did not achieve baseline proficiency levels in financial literacy.
\nAnd research by PYMNTS Intelligence shows that many consumers want more financial expertise, and often turn to financial institutions (FIs) for guidance, with many younger consumers being unaware of things such as their credit scores.
\n\u201cThis may not be surprising, considering that 79% of Gen Z and millennials say they get their financial advice through social media,\u201d PYMNTS wrote recently. \u201cOnly 11% say they use financial advisers to get the direction they need.\u201d
\nThe post Greenlight and Google Team on Fitbit-Focused Financial Education appeared first on PYMNTS.com.
\n", "content_text": "Financial education-focused FinTech Greenlight has launched a collaboration with Google.\nThe partnership, announced Wednesday (Aug. 7), connects Greenlight\u2019s debit card to Google\u2019s Fitbit Ace LTE, a smartwatch designed for kids, letting them learn to \u201cspend wisely\u201d and tap to pay with their watches.\n\u201cAt Greenlight, we\u2019re always looking for new ways to help parents raise financially smart kids and teach them healthy financial habits,\u201d said Tim Sheehan, co-founder and CEO at Greenlight. \u201cTeaming up with Google to integrate Greenlight into kids\u2019 smartwatches allows us to bring families even more peace of mind and convenience as their kids become more independent.\u201d\nAccording to a news release, the partnership is designed to give kids a way to practice smart spending and financial independence without using a phone or physical card, while parents gain the peace of mind that their children have safe and easy access to funds as needed.\n\u201cUsing the Greenlight app, parents can also send money instantly, automate allowance payments, manage chores, set flexible spending controls, get real-time notifications, and more \u2014 empowering their kids to learn smart money management,\u201d the release said.\nThe collaboration comes at a time when many teenagers in more prosperous countries \u2014 such as the U.K. and U.S. \u2014 are lagging in financial literacy.\nAlthough more than two-thirds of students routinely use financial products and services, levels of financial literacy are too low to make sure they can avoid financial risks, the Organization for Economic Cooperation and Development (OECD) said in June after releasing the latest installment of its financial literacy assessment.\nThat study looked at the financial skills of 15-year-olds in 14 OECD and six partner countries and economies and found that while many of them engage in basic financial activities from a young age, nearly 20% did not achieve baseline proficiency levels in financial literacy.\nAnd research by PYMNTS Intelligence shows that many consumers want more financial expertise, and often turn to financial institutions (FIs) for guidance, with many younger consumers being unaware of things such as their credit scores.\n\u201cThis may not be surprising, considering that 79% of Gen Z and millennials say they get their financial advice through social media,\u201d PYMNTS wrote recently. \u201cOnly 11% say they use financial advisers to get the direction they need.\u201d\nThe post Greenlight and Google Team on Fitbit-Focused Financial Education appeared first on PYMNTS.com.", "date_published": "2024-08-07T16:11:03-04:00", "date_modified": "2024-08-07T16:11:03-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/Greenlight-Google.jpg", "tags": [ "digital transformation", "financial education", "Financial Literacy", "Fitbit", "Fitbit Ace LTE", "Google", "Greenlight", "News", "PYMNTS News", "tap to pay", "Wearables", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=1974505", "url": "https://www.pymnts.com/news/wearables/2024/samsung-enters-smart-ring-market-expanding-wearable-tech-portfolio/", "title": "Samsung Enters Smart Ring Market, Expanding Wearable Tech Portfolio", "content_html": "Samsung unveiled its artificial intelligence (AI)-powered Galaxy Ring at a product launch event in Paris on Wednesday (July 10), marking the South Korean tech giant\u2019s first entry into the smart ring category.
\nThis move expands Samsung\u2019s wearable technology offerings and strengthens its position in the health monitoring market.
\n\u201cThe latest additions to our wearables portfolio integrate Samsung\u2019s most advanced technologies and innovations, enabling you to take control of your health and wellness with preventative healthcare solutions,\u201d TM Roh, president and head of mobile experience business at Samsung Electronics, said in a news release. \u201cThe intelligence, guidance and insights that are offered with Galaxy Ring, Galaxy Watch7 and Galaxy Watch Ultra will help users turn data into meaningful insights and create a whole new era of expanded intelligent health experiences.\u201d
\nThe Galaxy Ring uses AI to generate detailed health reports, including metrics like sleep, activity, heart rate and heart rate variability. Its AI-powered Energy Score and Wellness Tips offer insights and recommendations designed to help improve daily health and well-being.
\nSamsung also unveiled its latest foldable smartphones, the Galaxy Z Fold 6 and Galaxy Z Flip 6, positioning them as AI-capable devices with their Galaxy AI platform. The new phones feature generative AI capabilities, including real-time translation, conversation tools, photo editing and productivity options, making AI a major selling point for Samsung in its competition with Apple.
\nSamsung\u2019s focus on AI in these devices highlights the growing importance of the technology in the smartphone market, as manufacturers seek to differentiate their products and provide advanced features to consumers.
\nThe smart ring is designed for 24-hour health monitoring and is equipped with sensors to track various health metrics, including sleep patterns, menstrual cycles, heart rate and exercise activities. The gadget, weighing between 2.3 and 3 grams, depending on size, is available in three color options.
\nAccording to PYMNTS Intelligence, half of U.S. consumers now utilize wearables or apps for health monitoring. Affluent consumers are particularly inclined to use these technologies, with twice as many high-income individuals using wearables or apps compared to those with lower incomes, as reported in \u201cConnected Wellness: Tracking the Rise of Health-Tracking Technology.\u201d
\nThe Galaxy Ring is not just a standalone device. It\u2019s part of Samsung\u2019s larger ecosystem of products, including smartphones and smartwatches. This integration strategy is designed to provide users with a comprehensive health monitoring solution, ensuring that no aspect of their health goes unnoticed. This approach could potentially drive sales across multiple product lines, making the Galaxy Ring a key player in the health monitoring market.
\nLast month, Samsung launched the entry-level Galaxy Watch FE, and now they\u2019ve unveiled the $299.99 Galaxy Watch 7 and the $649.99 Galaxy Watch Ultra. The Ultra, replacing the Galaxy Watch 5 Pro, targets outdoor athletes with features like 10ATM water resistance, an IP68 rating and a titanium watch face.
\nKey features of the Galaxy Ring include sleep monitoring, which tracks movement, sleep latency, heart and respiratory rates and sleep quality analysis.
\nSamsung said the Galaxy Ring\u2019s battery can last up to seven days, and the device has a portable charging case. The Galaxy Ring will be available for purchase on July 24, with a starting price of $399.99.
\nThis launch represents Samsung\u2019s effort to capitalize on the growing consumer interest in personal health monitoring devices. It also positions the company to compete more directly with other tech giants in the wearable health technology space.
\nAs the smart ring enters the market, industry observers will be watching to see how it performs and whether it can drive growth across Samsung\u2019s broader product ecosystem. This device\u2019s success could have implications for the future direction of the wearable technology market and personal health monitoring devices.
\nThe post Samsung Enters Smart Ring Market, Expanding Wearable Tech Portfolio appeared first on PYMNTS.com.
\n", "content_text": "Samsung unveiled its artificial intelligence (AI)-powered Galaxy Ring at a product launch event in Paris on Wednesday (July 10), marking the South Korean tech giant\u2019s first entry into the smart ring category.\nThis move expands Samsung\u2019s wearable technology offerings and strengthens its position in the health monitoring market.\n\u201cThe latest additions to our wearables portfolio integrate Samsung\u2019s most advanced technologies and innovations, enabling you to take control of your health and wellness with preventative healthcare solutions,\u201d TM Roh, president and head of mobile experience business at Samsung Electronics, said in a news release. \u201cThe intelligence, guidance and insights that are offered with Galaxy Ring, Galaxy Watch7 and Galaxy Watch Ultra will help users turn data into meaningful insights and create a whole new era of expanded intelligent health experiences.\u201d\nThe Galaxy Ring uses AI to generate detailed health reports, including metrics like sleep, activity, heart rate and heart rate variability. Its AI-powered Energy Score and Wellness Tips offer insights and recommendations designed to help improve daily health and well-being.\nSamsung also unveiled its latest foldable smartphones, the Galaxy Z Fold 6 and Galaxy Z Flip 6, positioning them as AI-capable devices with their Galaxy AI platform. The new phones feature generative AI capabilities, including real-time translation, conversation tools, photo editing and productivity options, making AI a major selling point for Samsung in its competition with Apple.\nSamsung\u2019s focus on AI in these devices highlights the growing importance of the technology in the smartphone market, as manufacturers seek to differentiate their products and provide advanced features to consumers.\nSmart Ring Features\nThe smart ring is designed for 24-hour health monitoring and is equipped with sensors to track various health metrics, including sleep patterns, menstrual cycles, heart rate and exercise activities. The gadget, weighing between 2.3 and 3 grams, depending on size, is available in three color options.\nAccording to PYMNTS Intelligence, half of U.S. consumers now utilize wearables or apps for health monitoring. Affluent consumers are particularly inclined to use these technologies, with twice as many high-income individuals using wearables or apps compared to those with lower incomes, as reported in \u201cConnected Wellness: Tracking the Rise of Health-Tracking Technology.\u201d\nPart of an Ecosystem\nThe Galaxy Ring is not just a standalone device. It\u2019s part of Samsung\u2019s larger ecosystem of products, including smartphones and smartwatches. This integration strategy is designed to provide users with a comprehensive health monitoring solution, ensuring that no aspect of their health goes unnoticed. This approach could potentially drive sales across multiple product lines, making the Galaxy Ring a key player in the health monitoring market.\nLast month, Samsung launched the entry-level Galaxy Watch FE, and now they\u2019ve unveiled the $299.99 Galaxy Watch 7 and the $649.99 Galaxy Watch Ultra. The Ultra, replacing the Galaxy Watch 5 Pro, targets outdoor athletes with features like 10ATM water resistance, an IP68 rating and a titanium watch face.\nKey features of the Galaxy Ring include sleep monitoring, which tracks movement, sleep latency, heart and respiratory rates and sleep quality analysis.\nSamsung said the Galaxy Ring\u2019s battery can last up to seven days, and the device has a portable charging case. The Galaxy Ring will be available for purchase on July 24, with a starting price of $399.99.\nThis launch represents Samsung\u2019s effort to capitalize on the growing consumer interest in personal health monitoring devices. It also positions the company to compete more directly with other tech giants in the wearable health technology space.\nAs the smart ring enters the market, industry observers will be watching to see how it performs and whether it can drive growth across Samsung\u2019s broader product ecosystem. This device\u2019s success could have implications for the future direction of the wearable technology market and personal health monitoring devices.\nThe post Samsung Enters Smart Ring Market, Expanding Wearable Tech Portfolio appeared first on PYMNTS.com.", "date_published": "2024-07-10T19:15:25-04:00", "date_modified": "2024-07-10T19:15:25-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/07/Samsung-smart-rings-wearables.png", "tags": [ "Commerce", "connected devices", "Connected Economy", "digital transformation", "health tracking", "Healthcare", "HealthTech", "News", "Personal Health", "PYMNTS News", "Retail", "Samsung", "smart ring", "smart tech", "Technology", "Wearables" ] }, { "id": "https://www.pymnts.com/?p=1892828", "url": "https://www.pymnts.com/news/wearables/2024/ar-and-vr-have-potential-to-reshape-wearable-tech-landscape/", "title": "AR and VR Have\u00a0Potential\u00a0to Reshape Wearable Tech Landscape", "content_html": "Frequently integrated into wearable devices such as\u00a0smart glasses and headsets, extended reality (XR) technology \u2014 encompassing augmented reality (AR), virtual reality (VR) and mixed reality (MR) \u2014 is unlocking new levels of immersive experiences across sectors such as healthcare, retail and beyond.
\nTake, for instance, the potential impact of AR smart glasses in healthcare. According to IDTechEx\u2019s Senior Technology Analyst Sam Dale, AR displays have the potential to enhance vision for individuals with hearing impairments, bridging communication gaps and offering lifestyle improvements.\u00a0
\nSimilarly, in industries like aviation and medicine, VR simulations could enhance training by offering accessible and lifelike scenarios, Dale said on a\u00a0recent episode of IDTechEx\u2019s podcast, \u201cTomorrow\u2019s Tech by IDTechEx,\u201d whether it\u2019s guiding a surgeon through a complex procedure or providing fighter pilots with instructions displayed through headset lenses.
\nIn the industrial sector, XR wearables are streamlining operations and enhancing productivity. Warehouses, for instance, have embraced AR headsets to guide workers and provide maintenance support, similar to the approach Google took with its Google Glass\u00a0product.
\nXR\u2019s influence extends beyond workplaces and hospitals; it\u2019s also transforming education. Pharmacy schools, for instance, are leveraging VR to\u00a0address limitations\u00a0in equipment and facilities.\u00a0
\n\u201cThese facilities are extremely costly, and it is prohibitive for most schools to build one for educational purposes,\u201d Dayanjan S. Wijesinghe, an associate professor in the School of Pharmacy at Virginia Commonwealth University, said of the lack of on-site sterile compounding facilities. \u201cThe best way to learn about sterile compounding is to practice it in person, but the next best option is virtual reality.\u201d
\nEven the way consumers shop is undergoing a digital transformation, thanks to XR. Augmented reality try-on experiences are enabling shoppers to virtually try on clothing and accessories from the comfort of their homes. As PYMNTS\u00a0reported\u00a0last month, retail giants\u00a0Walmart\u00a0and\u00a0Amazon are stepping up their digital try-on capabilities, enabling consumers to visualize products in real time, enhancing engagement and driving conversion rates.\u00a0
\nPYMNTS Intelligence\u00a0research\u00a0also found that a significant share of consumers are eager for VR to replicate the experience of brick-and-mortar shopping. Specifically, among the 95% of consumers who own or have access to at least one internet-connected device,\u00a0one-third expressed a high level of interest in using VR technology to shop and buy retail products available in physical stores, all from the comfort of their home or office. Moreover, 4% of respondents reported already engaging in this immersive shopping experience.\u00a0
\nHowever, the journey toward widespread XR wearable adoption is not without hurdles. Smart glasses have faced challenges in the consumer market due to concerns related to aesthetics, limited use cases, and privacy issues surrounding built-in cameras.\u00a0
\nSimilarly,\u00a0Apple\u2019s Vision Pro headset, launched earlier this year, hasn\u2019t garnered the expected level of enthusiasm. Complaints about\u00a0discomfort, headaches\u00a0and\u00a0eye strain\u00a0have led early adopters to return their headsets, highlighting the importance of addressing usability and comfort concerns in advancing XR technology.
\nDespite these challenges, the future of wearable devices remains promising. With continued innovation and collaboration, the integration of XR into these gadgets is poised to play a pivotal role in redefining how consumers live, work and engage with technology, ushering in a new era of immersive interaction and functionality.
\nThe post AR and VR Have\u00a0Potential\u00a0to Reshape Wearable Tech Landscape appeared first on PYMNTS.com.
\n", "content_text": "Frequently integrated into wearable devices such as\u00a0smart glasses and headsets, extended reality (XR) technology \u2014 encompassing augmented reality (AR), virtual reality (VR) and mixed reality (MR) \u2014 is unlocking new levels of immersive experiences across sectors such as healthcare, retail and beyond.\nTake, for instance, the potential impact of AR smart glasses in healthcare. According to IDTechEx\u2019s Senior Technology Analyst Sam Dale, AR displays have the potential to enhance vision for individuals with hearing impairments, bridging communication gaps and offering lifestyle improvements.\u00a0\nSimilarly, in industries like aviation and medicine, VR simulations could enhance training by offering accessible and lifelike scenarios, Dale said on a\u00a0recent episode of IDTechEx\u2019s podcast, \u201cTomorrow\u2019s Tech by IDTechEx,\u201d whether it\u2019s guiding a surgeon through a complex procedure or providing fighter pilots with instructions displayed through headset lenses.\nIn the industrial sector, XR wearables are streamlining operations and enhancing productivity. Warehouses, for instance, have embraced AR headsets to guide workers and provide maintenance support, similar to the approach Google took with its Google Glass\u00a0product.\nXR\u2019s influence extends beyond workplaces and hospitals; it\u2019s also transforming education. Pharmacy schools, for instance, are leveraging VR to\u00a0address limitations\u00a0in equipment and facilities.\u00a0\n\u201cThese facilities are extremely costly, and it is prohibitive for most schools to build one for educational purposes,\u201d Dayanjan S. Wijesinghe, an associate professor in the School of Pharmacy at Virginia Commonwealth University, said of the lack of on-site sterile compounding facilities. \u201cThe best way to learn about sterile compounding is to practice it in person, but the next best option is virtual reality.\u201d\nEven the way consumers shop is undergoing a digital transformation, thanks to XR. Augmented reality try-on experiences are enabling shoppers to virtually try on clothing and accessories from the comfort of their homes. As PYMNTS\u00a0reported\u00a0last month, retail giants\u00a0Walmart\u00a0and\u00a0Amazon are stepping up their digital try-on capabilities, enabling consumers to visualize products in real time, enhancing engagement and driving conversion rates.\u00a0\nPYMNTS Intelligence\u00a0research\u00a0also found that a significant share of consumers are eager for VR to replicate the experience of brick-and-mortar shopping. Specifically, among the 95% of consumers who own or have access to at least one internet-connected device,\u00a0one-third expressed a high level of interest in using VR technology to shop and buy retail products available in physical stores, all from the comfort of their home or office. Moreover, 4% of respondents reported already engaging in this immersive shopping experience.\u00a0\nHowever, the journey toward widespread XR wearable adoption is not without hurdles. Smart glasses have faced challenges in the consumer market due to concerns related to aesthetics, limited use cases, and privacy issues surrounding built-in cameras.\u00a0\nSimilarly,\u00a0Apple\u2019s Vision Pro headset, launched earlier this year, hasn\u2019t garnered the expected level of enthusiasm. Complaints about\u00a0discomfort, headaches\u00a0and\u00a0eye strain\u00a0have led early adopters to return their headsets, highlighting the importance of addressing usability and comfort concerns in advancing XR technology.\nDespite these challenges, the future of wearable devices remains promising. With continued innovation and collaboration, the integration of XR into these gadgets is poised to play a pivotal role in redefining how consumers live, work and engage with technology, ushering in a new era of immersive interaction and functionality.\nThe post AR and VR Have\u00a0Potential\u00a0to Reshape Wearable Tech Landscape appeared first on PYMNTS.com.", "date_published": "2024-04-22T15:28:57-04:00", "date_modified": "2024-04-22T15:28:57-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/06/VR-headset.jpg", "tags": [ "AR", "Augmented Reality", "digital transformation", "Education", "extended reality", "Healthcare", "M&R", "mixed-reality", "News", "privacy", "PYMNTS News", "Technology", "virtual reality", "VR", "Wearables", "XR" ] }, { "id": "https://www.pymnts.com/?p=1876649", "url": "https://www.pymnts.com/news/wearables/2024/wearables-spark-contactless-payment-evolution-amid-ongoing-apple-eu-antitrust-case/", "title": "Wearables Spark Contactless Payment Evolution Amid Ongoing Apple EU Antitrust Case", "content_html": "In an age where technology continues to evolve at an exponential pace, the integration of smart devices into consumers\u2019 daily routines has become increasingly prevalent.
\nFrom\u00a0smartphones\u00a0to smartwatches, these devices have not only transformed communication and access to information but have also revolutionized financial transactions.\u00a0
\nThe widespread adoption of\u00a0contactless payments, enabled by near-field communication (NFC) technology, exemplifies this shift. Now, recent developments in wearable technology are further driving the adoption of contactless payments, as tech industry giants actively integrate this functionality into wearable devices.
\nTelecommunications giant\u00a0Airtel, in collaboration with lifestyle brand\u00a0Noise, has recently\u00a0launched a smartwatch, equipped with contactless payment capabilities, offering users a stylish accessory that doubles as a secure payment tool.
\nGanesh Ananthanarayanan, COO at Airtel Payments Bank, emphasized the empowerment of customers through wearable technology integration, enabling greater freedom and flexibility in daily transactions.\u00a0
\n\u201cBy integrating contactless payment capabilities into wearable technology, we empower customers with greater freedom and flexibility in their daily transactions,\u201d Ananthanarayanan said in a Mar. 19 report by The Economic Times. \u201cThis smartwatch is the first wearable device the bank has launched.\u201d
\nMeanwhile,\u00a0Samsung is exploring the incorporation of contactless payment features into its upcoming Galaxy Ring \u2014 the company\u2019s first ring product, which is due to hit stores this year \u2014 potentially expanding the utility of wearable devices beyond health tracking.
\n\u201cWe have a whole \u2026 team that is looking at that,\u201d\u00a0Hon Pak, head of Samsung\u2019s digital health team, said, per a Feb. 26 PYMNTS\u00a0report. \u201cBut I think clearly looking at multiple different use cases for the Ring beyond just health, for sure.\u201d
\nThese advancements come on the heels of\u00a0Apple\u2019s reported offer to grant competitors and third parties access to the NFC chip on iPhones, potentially resolving a longstanding EU\u00a0antitrust case. The move could address concerns regarding Apple’s alleged restriction of NFC chip access, which hindered competitors from launching tap-to-pay services on Apple devices.
\nAs the\u00a0European Commission (EC)\u00a0awaits\u00a0feedback on Apple\u2019s proposal, the outcome of the market test could have far-reaching implications for competition in the contactless payment market.\u00a0
\n\u201cIf the market test indicates that the commitments address the competition concerns, the Commission may adopt a decision making them legally binding on Apple. […] If Apple does not [honor] such commitments, the Commission can impose a fine of up to 10% of the company\u2019s worldwide turnover, without having to prove an infringement of the EU antitrust rules,\u201d the EC wrote in a Jan. 19 press release.
\nWith various stakeholders, including wearable technology players, vying for prominence in this rapidly evolving landscape, the future of contactless payments remains dynamic and full of possibilities. The potential resolution of the EU antitrust case against Apple could pave the way for increased competition and innovation in the contactless payment market, benefiting consumers and driving further innovation in the payments space.\u00a0
\nThe post Wearables Spark Contactless Payment Evolution Amid Ongoing Apple EU Antitrust Case appeared first on PYMNTS.com.
\n", "content_text": "In an age where technology continues to evolve at an exponential pace, the integration of smart devices into consumers\u2019 daily routines has become increasingly prevalent.\nFrom\u00a0smartphones\u00a0to smartwatches, these devices have not only transformed communication and access to information but have also revolutionized financial transactions.\u00a0\nThe widespread adoption of\u00a0contactless payments, enabled by near-field communication (NFC) technology, exemplifies this shift. Now, recent developments in wearable technology are further driving the adoption of contactless payments, as tech industry giants actively integrate this functionality into wearable devices.\nTelecommunications giant\u00a0Airtel, in collaboration with lifestyle brand\u00a0Noise, has recently\u00a0launched a smartwatch, equipped with contactless payment capabilities, offering users a stylish accessory that doubles as a secure payment tool.\nGanesh Ananthanarayanan, COO at Airtel Payments Bank, emphasized the empowerment of customers through wearable technology integration, enabling greater freedom and flexibility in daily transactions.\u00a0\n\u201cBy integrating contactless payment capabilities into wearable technology, we empower customers with greater freedom and flexibility in their daily transactions,\u201d Ananthanarayanan said in a Mar. 19 report by The Economic Times. \u201cThis smartwatch is the first wearable device the bank has launched.\u201d\nMeanwhile,\u00a0Samsung is exploring the incorporation of contactless payment features into its upcoming Galaxy Ring \u2014 the company\u2019s first ring product, which is due to hit stores this year \u2014 potentially expanding the utility of wearable devices beyond health tracking.\n\u201cWe have a whole \u2026 team that is looking at that,\u201d\u00a0Hon Pak, head of Samsung\u2019s digital health team, said, per a Feb. 26 PYMNTS\u00a0report. \u201cBut I think clearly looking at multiple different use cases for the Ring beyond just health, for sure.\u201d\nThese advancements come on the heels of\u00a0Apple\u2019s reported offer to grant competitors and third parties access to the NFC chip on iPhones, potentially resolving a longstanding EU\u00a0antitrust case. The move could address concerns regarding Apple’s alleged restriction of NFC chip access, which hindered competitors from launching tap-to-pay services on Apple devices.\nAs the\u00a0European Commission (EC)\u00a0awaits\u00a0feedback on Apple\u2019s proposal, the outcome of the market test could have far-reaching implications for competition in the contactless payment market.\u00a0\n\u201cIf the market test indicates that the commitments address the competition concerns, the Commission may adopt a decision making them legally binding on Apple. […] If Apple does not [honor] such commitments, the Commission can impose a fine of up to 10% of the company\u2019s worldwide turnover, without having to prove an infringement of the EU antitrust rules,\u201d the EC wrote in a Jan. 19 press release.\nWith various stakeholders, including wearable technology players, vying for prominence in this rapidly evolving landscape, the future of contactless payments remains dynamic and full of possibilities. The potential resolution of the EU antitrust case against Apple could pave the way for increased competition and innovation in the contactless payment market, benefiting consumers and driving further innovation in the payments space.\u00a0\nThe post Wearables Spark Contactless Payment Evolution Amid Ongoing Apple EU Antitrust Case appeared first on PYMNTS.com.", "date_published": "2024-03-21T06:27:02-04:00", "date_modified": "2024-03-21T06:27:02-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2020/11/wearables-contacltess-payments-i2c-Purewrist.jpg", "tags": [ "Airtel", "Antitrust", "Apple", "contactless payments", "News", "NFC Chip", "Payment Methods", "PYMNTS News", "Samsung", "Wearables" ] }, { "id": "https://www.pymnts.com/?p=1870815", "url": "https://www.pymnts.com/news/wearables/2024/smarter-wearables-highlight-demand-for-real-time-fitness-data/", "title": "Smarter Wearables Highlight Demand for Real-Time Fitness Data", "content_html": "Led by names like Google, Apple and Samsung, the wearables category of the connected economy has become a study in contradictions.
\nNew, high-profile introductions have accelerated due to recent events like the Consumer Electronics Show and Mobile World Congress (MWC). On the other hand, niche players have also become more aggressive providing new use cases for the category.
\nAnd while some companies are working to create a \u201csuper wearable\u201d that unites disparate fitness data sources, others are sticking with the proprietary approach. These dynamics have put wearable innovations back on the agenda for a huge consumer market.\u00a0PYMNTS research as of November 2022 put that market north of 96 million U.S. consumers.
\nHowever, interoperability and data usage has become an issue, as seen with the most recent product introductions. Samsung used MWC to introduce a coordinated series of connected devices featuring its first-ever smart ring. Called the Galaxy Ring, it will compete with Oura and eventually, Apple.
\nLike other smart rings, it ticks all the boxes for personal health data, from movement to sleep to heart rate and more. The Galaxy series leans heavily on mobile AI, and one of its selling points is its ability to aggregate at least some of the data a consumer will get from watches, headsets, glasses and other more niche products such as headbands that track brainwave activity.
\nSamsung\u2019s new Galaxy series, introduced at MWC, uses the phone as the AI-driven hub, connecting the ring, Galaxy Watch, Galaxy Book series of laptops and even the smart home Internet of Things platform. The company\u2019s positioning distanced itself from the hype surrounding the ring, focusing instead on the data issue.
\n\u201cOne of the biggest challenges the healthcare industry is facing today is fragmented data and how to bring it all together,\u201d said Samsung\u2019s Dr. Hon Pak, vice president and head of the digital health team. \u201cOur vision is to improve the health of billions through connected care centered around the home by connecting devices, services and people.\u201d
\nThe Galaxy Ring will only interact with Android OS platforms and Samsung products. But Pak\u2019s mission to unify data is one that wearables manufacturers are taking seriously.
\nFor example, Google\u00a0recently announced that its Google One data subscription platform will include Fitbit. A short time before that, it announced that the redesigned\u00a0Fitbit app through Health Connect\u00a0will include data from other wearables and apps like AllTrails, Oura Ring and MyFitnessPal.
\nConsumers can access the Fitbit app via any Android phone, head to the \u201cYou\u201d tab to see all the connected data such as steps, calories burned, floors climbed and distance traveled from Health Connect-compatible apps.
\nGoogle has not made any announcements about a potential ring introduction, although it did file a\u00a0patent for one in 2015.
\nOura \u2014 which is valued at $2.55 billion \u2014 isn\u2019t stopping at its Google partnership. It announced a new integration on March 5 with digital exercise community Strava, which claims 120 million users. Strava doesn\u2019t have a wearable and Oura needs user growth, so the partnership makes sense for both.
\nStrava\u2019s announcement sounded the data unification theme. \u201cStrava further defines itself as the nucleus of their active life, connecting health inputs from more devices to tell the full story of an athlete\u2019s performance and improvement,\u201d it stated.
\nOther more niche players are also leading with data, many of them designed to address specific health conditions.\u00a0Dexcom, for example, provides glucose and insulin level data in real-time via a wearable that sticks on the patient\u2019s skin.
\nAt Los Angeles\u2019 Cedars-Sinai Medical Center, research is going much deeper into potential disease diagnosis, based on the data produced by a customized wearable device. For example, according to\u00a0Dr. Joseph Schwab, director of the Cedars-Sinai Center for Surgical Innovation and Engineering, when a doctor uses a reflex hammer above your knee to test for a reflex reaction, they are only able to identify the presence or absence of the reflex. Wearable devices in development can measure the reflex response, assign data points, and provide a more complete report to the doctor.
\n\u201cConsumer wearables on the market are essentially motion trackers,\u201d\u00a0Schwab said. \u201cThey may have an accelerometer or gyroscope that can simply measure your position or motion to track steps and other data. What we\u2019re doing is different in that our devices are sending energy \u2014 in the form of light, electrical energy and sound \u2014 into the tissues, and we can measure that energy as it leaves the tissue, and we can deduce things based on how the energy was affected by the tissue.\u201d
\n\n
The post Smarter Wearables Highlight Demand for Real-Time Fitness Data appeared first on PYMNTS.com.
\n", "content_text": "Led by names like Google, Apple and Samsung, the wearables category of the connected economy has become a study in contradictions. \nNew, high-profile introductions have accelerated due to recent events like the Consumer Electronics Show and Mobile World Congress (MWC). On the other hand, niche players have also become more aggressive providing new use cases for the category. \nAnd while some companies are working to create a \u201csuper wearable\u201d that unites disparate fitness data sources, others are sticking with the proprietary approach. These dynamics have put wearable innovations back on the agenda for a huge consumer market.\u00a0PYMNTS research as of November 2022 put that market north of 96 million U.S. consumers.\nHowever, interoperability and data usage has become an issue, as seen with the most recent product introductions. Samsung used MWC to introduce a coordinated series of connected devices featuring its first-ever smart ring. Called the Galaxy Ring, it will compete with Oura and eventually, Apple. \nLike other smart rings, it ticks all the boxes for personal health data, from movement to sleep to heart rate and more. The Galaxy series leans heavily on mobile AI, and one of its selling points is its ability to aggregate at least some of the data a consumer will get from watches, headsets, glasses and other more niche products such as headbands that track brainwave activity. \nSamsung\u2019s new Galaxy series, introduced at MWC, uses the phone as the AI-driven hub, connecting the ring, Galaxy Watch, Galaxy Book series of laptops and even the smart home Internet of Things platform. The company\u2019s positioning distanced itself from the hype surrounding the ring, focusing instead on the data issue.\n\u201cOne of the biggest challenges the healthcare industry is facing today is fragmented data and how to bring it all together,\u201d said Samsung\u2019s Dr. Hon Pak, vice president and head of the digital health team. \u201cOur vision is to improve the health of billions through connected care centered around the home by connecting devices, services and people.\u201d\nThe Galaxy Ring will only interact with Android OS platforms and Samsung products. But Pak\u2019s mission to unify data is one that wearables manufacturers are taking seriously. \nFor example, Google\u00a0recently announced that its Google One data subscription platform will include Fitbit. A short time before that, it announced that the redesigned\u00a0Fitbit app through Health Connect\u00a0will include data from other wearables and apps like AllTrails, Oura Ring and MyFitnessPal. \nConsumers can access the Fitbit app via any Android phone, head to the \u201cYou\u201d tab to see all the connected data such as steps, calories burned, floors climbed and distance traveled from Health Connect-compatible apps.\nGoogle has not made any announcements about a potential ring introduction, although it did file a\u00a0patent for one in 2015. \nOura \u2014 which is valued at $2.55 billion \u2014 isn\u2019t stopping at its Google partnership. It announced a new integration on March 5 with digital exercise community Strava, which claims 120 million users. Strava doesn\u2019t have a wearable and Oura needs user growth, so the partnership makes sense for both. \nStrava\u2019s announcement sounded the data unification theme. \u201cStrava further defines itself as the nucleus of their active life, connecting health inputs from more devices to tell the full story of an athlete\u2019s performance and improvement,\u201d it stated.\nOther more niche players are also leading with data, many of them designed to address specific health conditions.\u00a0Dexcom, for example, provides glucose and insulin level data in real-time via a wearable that sticks on the patient\u2019s skin. \nAt Los Angeles\u2019 Cedars-Sinai Medical Center, research is going much deeper into potential disease diagnosis, based on the data produced by a customized wearable device. For example, according to\u00a0Dr. Joseph Schwab, director of the Cedars-Sinai Center for Surgical Innovation and Engineering, when a doctor uses a reflex hammer above your knee to test for a reflex reaction, they are only able to identify the presence or absence of the reflex. Wearable devices in development can measure the reflex response, assign data points, and provide a more complete report to the doctor.\n\u201cConsumer wearables on the market are essentially motion trackers,\u201d\u00a0Schwab said. \u201cThey may have an accelerometer or gyroscope that can simply measure your position or motion to track steps and other data. What we\u2019re doing is different in that our devices are sending energy \u2014 in the form of light, electrical energy and sound \u2014 into the tissues, and we can measure that energy as it leaves the tissue, and we can deduce things based on how the energy was affected by the tissue.\u201d\n \nThe post Smarter Wearables Highlight Demand for Real-Time Fitness Data appeared first on PYMNTS.com.", "date_published": "2024-03-07T04:00:04-05:00", "date_modified": "2024-03-06T22:10:44-05:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/03/Samsung-Galaxy-ring.jpg", "tags": [ "Dexcom", "Featured News", "Fitbit", "fitness", "Galaxy Ring", "Google", "Healthcare", "Hon Pak", "Joseph Schwab", "News", "Oura", "PYMNTS News", "Samsung", "Strava", "Wearables", "Wellness" ] }, { "id": "https://www.pymnts.com/?p=1630222", "url": "https://www.pymnts.com/news/wearables/2023/oura-wants-to-be-the-wearable-of-choice-for-consumers/", "title": "\u014cURA Wants to Be the Wearable of Choice for Consumers", "content_html": "Fitness prioritization is on the rise, and consumers are pumping up their standards for fitness trackers. Counting steps and heart rates is no longer the finish line; people now crave a workout buddy that can provide them with a full range of health insights. Moreover, they want their fitness trackers to blend seamlessly into their lifestyles, incorporating elements of fashion and style.\u00a0
\nTo address these changing consumer needs, brands like\u00a0\u014cURA are not only enhancing their product capabilities, but also expanding their educational efforts.\u00a0
\nIn an interview with PYMNTS,\u00a0Doug Sweeny, chief marketing officer at \u014cURA, shared insights into how the brand has endeavored to meet this consumer demand by providing a distinctive fusion of fitness and fashion. Furthermore, he discussed the brand\u2019s strategies for reaching consumers and helping them understand why this accessory is a must-have.\u00a0
\n\u201cThe app itself has become a ritual; people check their scores in the morning and discuss them with their partners, friends, and family, both digitally and in person. They find value in the messages we convey through the app, particularly through guidance and alerts, such as when their readiness score shows a decline,\u201d said Sweeny, noting \u014cURA\u2019s differentiator to other fitness trackers in the market.\u00a0
\nAs a result, the company has discovered that \u014cURA customers fully grasp the value of the offering, making it a product well worth bringing to a broader audience.\u00a0
\nLast year, \u014cURA teamed up with the luxury brand Gucci to launch the Oura 3 ring.\u00a0
\nThe wearable product showcases Gucci\u2019s logo along with an 18-karat yellow gold braided torchon running along the exterior of the band. The ring, on the other hand, has been crafted from black PVD-coated titanium and is available for purchase at a retail price of $950.\u00a0
\nTeaming up with Gucci provides \u014cURA with an opportunity to access this market segment and introduce its technology to a previously untapped audience. This collaboration effectively introduces the \u014cURA ring to fashion-savvy individuals who may not have previously explored wearable technology.\u00a0
\nFurthermore, not only does the inclusion of luxury materials, intricate designs, and the brand’s logo make the \u014cURA ring more appealing to consumers who value both style and functionality, but it also lends credibility and prestige to \u014cURA\u2019s product as it conveys the message that the \u014cURA aligns with high-end fashion standards.\u00a0
\nHowever, \u014cURA\u2019s aim extends beyond merely targeting luxury enthusiasts. Sweeny highlights that the company is determined to make its product accessible to anyone who values health and wellness, which encompasses technology enthusiasts who frequent retailers like Best Buy.\u00a0
\n\u201cWe launched in April with Best Buy. It was a big part of our playbook,\u201d said Sweeny.\u00a0\u00a0
\nWith that, Sweeny notes that the \u014cURA team looked to bring a shop-in-shop experience to educate consumers through the use of videos, storytelling, and a digital touchpad that offers a comprehensive understanding of the product experience. Sweeny also highlights that this approach extends across a vast network of approximately 900 locations, both in digital and physical retail spaces throughout the United States.\u00a0
\nBuilding on the success of their initial launch, \u014cURA decided to extend its presence to Best Buy\u2019s Canadian market. According to Sweeny, this move was a logical choice, as Canada is recognized as one of the top three key markets for the company, following closely after the United States. Consistent with their strategic approach, \u014cURA introduced a shop-in-shop experience in 124 Canadian locations, with 25 of these prominently featured within the largest format doors, to boost product awareness and education.\u00a0
\nEarlier this year, \u014cURA introduced the\u00a0Equinox partnership, a collaboration that Sweeny notes had been in development for over a year.\u00a0
\nThis particular collaboration represents a significant step in credibility and trust, as Equinox is known for its fitness services and facilities. Partnering with such a brand essentially confirms \u014cURA’s effectiveness and relevance within the fitness community and acts as a reassuring signal to fitness enthusiasts.\u00a0
\nAs part of Equinox Circle, a program of curated brand partners, \u014cURA launched a co-branded Rest & Recovery Kit which was made available for purchase online at the Equinox Shop for both members and non-members.\u00a0
\nThe Rest & Recovery Kit includes a range of components, such as a selection of Oura Ring finishes, an \u014cURA x Equinox branded ring cover, charger, leather pouch, and a one-year Oura Membership. The ring cover, a unique accessory, offers ring protection during weight training, strenuous workouts, and various other activities.\u00a0
\nSweeny further emphasizes that within its app, \u014cURA has integrated a comprehensive referral program that enables users to refer their friends while gaining access to a diverse selection of partner rewards. These rewards encompass unique collaborations, such as Aloe’s yoga mats and premium sleep masks. The scope of these partnerships goes beyond just the member referral experience, encompassing broader collaborations with more deeply integrated features.\u00a0
\nAdditionally, Sweeny emphasizes that these partnerships, exemplified by their affiliations with Natural Cycles, Strava, Equinox, and Gucci, frequently entail the development of custom hardware solutions.\u00a0
\nSweeny notes that people often spend their days fixated on screens, occasionally diverting their attention to smartphones for updates, videos, or social media. However, \u014cURA changes the dynamic for users, empowering them to assume a more active role. With \u014cURA, technology seamlessly blends into the background, giving users the upper hand.\u00a0
\nIndividuals can interact with \u014cURA\u2019s data and insights according to their preferences, free from external prompts. This experience stands in stark contrast to the typical routine of waking up to an alarm, being reminded to stand up, or coerced into physical activity. \u014cURA looks to create a unique, self-directed approach to engaging with personal health information and insights, enabling individuals to take charge of their well-being.\u00a0
\n\u201cIt’s all about balance, not just taking more steps and pushing yourself harder. It\u2019s a discreet, specific approach, attuned to your body\u2019s signals. Emphasizing equilibrium, it\u2019s personalized. It also focuses on rest and recovery, alongside physical activity and other aspects,\u201d said Sweeny.\u00a0
\nThe post \u014cURA Wants to Be the Wearable of Choice for Consumers appeared first on PYMNTS.com.
\n", "content_text": "Fitness prioritization is on the rise, and consumers are pumping up their standards for fitness trackers. Counting steps and heart rates is no longer the finish line; people now crave a workout buddy that can provide them with a full range of health insights. Moreover, they want their fitness trackers to blend seamlessly into their lifestyles, incorporating elements of fashion and style.\u00a0\nTo address these changing consumer needs, brands like\u00a0\u014cURA are not only enhancing their product capabilities, but also expanding their educational efforts.\u00a0\nIn an interview with PYMNTS,\u00a0Doug Sweeny, chief marketing officer at \u014cURA, shared insights into how the brand has endeavored to meet this consumer demand by providing a distinctive fusion of fitness and fashion. Furthermore, he discussed the brand\u2019s strategies for reaching consumers and helping them understand why this accessory is a must-have.\u00a0\n\u201cThe app itself has become a ritual; people check their scores in the morning and discuss them with their partners, friends, and family, both digitally and in person. They find value in the messages we convey through the app, particularly through guidance and alerts, such as when their readiness score shows a decline,\u201d said Sweeny, noting \u014cURA\u2019s differentiator to other fitness trackers in the market.\u00a0\nAs a result, the company has discovered that \u014cURA customers fully grasp the value of the offering, making it a product well worth bringing to a broader audience.\u00a0\n\u014cURA\u2019s Gucci Collaboration\nLast year, \u014cURA teamed up with the luxury brand Gucci to launch the Oura 3 ring.\u00a0\nThe wearable product showcases Gucci\u2019s logo along with an 18-karat yellow gold braided torchon running along the exterior of the band. The ring, on the other hand, has been crafted from black PVD-coated titanium and is available for purchase at a retail price of $950.\u00a0\nTeaming up with Gucci provides \u014cURA with an opportunity to access this market segment and introduce its technology to a previously untapped audience. This collaboration effectively introduces the \u014cURA ring to fashion-savvy individuals who may not have previously explored wearable technology.\u00a0\nFurthermore, not only does the inclusion of luxury materials, intricate designs, and the brand’s logo make the \u014cURA ring more appealing to consumers who value both style and functionality, but it also lends credibility and prestige to \u014cURA\u2019s product as it conveys the message that the \u014cURA aligns with high-end fashion standards.\u00a0\nTapping Tech Enthusiasts\nHowever, \u014cURA\u2019s aim extends beyond merely targeting luxury enthusiasts. Sweeny highlights that the company is determined to make its product accessible to anyone who values health and wellness, which encompasses technology enthusiasts who frequent retailers like Best Buy.\u00a0\n\u201cWe launched in April with Best Buy. It was a big part of our playbook,\u201d said Sweeny.\u00a0\u00a0\nWith that, Sweeny notes that the \u014cURA team looked to bring a shop-in-shop experience to educate consumers through the use of videos, storytelling, and a digital touchpad that offers a comprehensive understanding of the product experience. Sweeny also highlights that this approach extends across a vast network of approximately 900 locations, both in digital and physical retail spaces throughout the United States.\u00a0\nBuilding on the success of their initial launch, \u014cURA decided to extend its presence to Best Buy\u2019s Canadian market. According to Sweeny, this move was a logical choice, as Canada is recognized as one of the top three key markets for the company, following closely after the United States. Consistent with their strategic approach, \u014cURA introduced a shop-in-shop experience in 124 Canadian locations, with 25 of these prominently featured within the largest format doors, to boost product awareness and education.\u00a0\nDeepening Its Connection\nEarlier this year, \u014cURA introduced the\u00a0Equinox partnership, a collaboration that Sweeny notes had been in development for over a year.\u00a0\nThis particular collaboration represents a significant step in credibility and trust, as Equinox is known for its fitness services and facilities. Partnering with such a brand essentially confirms \u014cURA’s effectiveness and relevance within the fitness community and acts as a reassuring signal to fitness enthusiasts.\u00a0\nAs part of Equinox Circle, a program of curated brand partners, \u014cURA launched a co-branded Rest & Recovery Kit which was made available for purchase online at the Equinox Shop for both members and non-members.\u00a0\nThe Rest & Recovery Kit includes a range of components, such as a selection of Oura Ring finishes, an \u014cURA x Equinox branded ring cover, charger, leather pouch, and a one-year Oura Membership. The ring cover, a unique accessory, offers ring protection during weight training, strenuous workouts, and various other activities.\u00a0\nSweeny further emphasizes that within its app, \u014cURA has integrated a comprehensive referral program that enables users to refer their friends while gaining access to a diverse selection of partner rewards. These rewards encompass unique collaborations, such as Aloe’s yoga mats and premium sleep masks. The scope of these partnerships goes beyond just the member referral experience, encompassing broader collaborations with more deeply integrated features.\u00a0\nAdditionally, Sweeny emphasizes that these partnerships, exemplified by their affiliations with Natural Cycles, Strava, Equinox, and Gucci, frequently entail the development of custom hardware solutions.\u00a0\nWhat Makes \u014cURA Different\nSweeny notes that people often spend their days fixated on screens, occasionally diverting their attention to smartphones for updates, videos, or social media. However, \u014cURA changes the dynamic for users, empowering them to assume a more active role. With \u014cURA, technology seamlessly blends into the background, giving users the upper hand.\u00a0\nIndividuals can interact with \u014cURA\u2019s data and insights according to their preferences, free from external prompts. This experience stands in stark contrast to the typical routine of waking up to an alarm, being reminded to stand up, or coerced into physical activity. \u014cURA looks to create a unique, self-directed approach to engaging with personal health information and insights, enabling individuals to take charge of their well-being.\u00a0\n\u201cIt’s all about balance, not just taking more steps and pushing yourself harder. It\u2019s a discreet, specific approach, attuned to your body\u2019s signals. Emphasizing equilibrium, it\u2019s personalized. It also focuses on rest and recovery, alongside physical activity and other aspects,\u201d said Sweeny.\u00a0\nThe post \u014cURA Wants to Be the Wearable of Choice for Consumers appeared first on PYMNTS.com.", "date_published": "2023-11-06T04:00:52-05:00", "date_modified": "2023-11-05T23:31:43-05:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/11/OURA-wearable-1.jpg", "tags": [ "biometrics", "Doug Sweeny", "Featured News", "fitness trackers", "Health", "News", "Oura", "PYMNTS News", "Retail", "Wearables" ] }, { "id": "https://www.pymnts.com/?p=1521597", "url": "https://www.pymnts.com/news/wearables/2023/health-tracking-tech-takes-center-stage/", "title": "Health Tracking Tech Takes Center Stage", "content_html": "This next installment of PYMNTS\u2019 miniseries on consumer behavior that became more widespread as a result of the pandemic focuses on healthcare monitoring technology.
\nWearables and other healthcare monitoring tech were just catching on when COVID-19 hit, and the crisis in many ways set the perfect stage for wearables to be propelled into widespread popularity.
\nWith doctor offices at first being shuttered during lockdowns and then notoriously difficult to find appointments for, digital tools became a bridge. Many consumers had wellness on the mind and were particularly attuned to their heart rate, oxygen levels and temperature for both routine and specialized health purposes.
\nUse of these digital healthcare-related tools has extended beyond the pandemic\u2019s emergency status, and PYMNTS\u2019 data suggests that wearables and health monitoring technologies are on track to become a permanent part of participating consumers\u2019 daily lives.
\nAlong a slightly bumpy upward trajectory, adoption of health-monitoring tech is on the rise, illustrated in the PYMNTS collaboration with CareCredit, \u201cConnected Wellness: Tracking The Rise Of Health-Tracking Technology.\u201d Here, all three tracked categories \u2014 use of a health-monitoring website or app, use of at least one health-monitoring technology and health-monitoring wearable use \u2014 have seen upticks.
\n
With healthcare app and tool use (a category that includes wearables) overall growing 21% between November 2021 and November 2022, the report finds that, \u201chealth-tracking technology is the single most used connected health technology in the U.S. Roughly one-third of consumers used other connected health technologies last month, including telemedicine appointment portals and social exercise.\u201d
\nHealth-monitoring wearable use is led by Gen Z, and PYMNTS\u2019 March \u201cConnectedEconomy![\"\u2122\"](\"https://s.w.org/images/core/emoji/15.0.3/72x72/2122.png\")
Monthly Report\u201d found\u00a0that 30% of the generation use these tools daily. Millennials weren\u2019t far behind, with 27% saying the same. This strong adoption by younger generations gives credence to wearable and other healthcare-monitoring tech\u2019s staying power. And with both\u00a0runway-ready\u00a0and\u00a0robust\u00a0wearable jewelry coming to market, some companies are seeing a path to profitability in this niche.
Wearables and other healthcare technologies may have gained popularity during the pandemic, but they are now enjoying adoption into consumers\u2019 daily lives on their own. And as other installments of this miniseries will illustrate, some of the biggest digital gains from the recent health crisis are set to allow consumers to be more connected permanently.
\nThe post Health Tracking Tech Takes Center Stage appeared first on PYMNTS.com.
\n", "content_text": "This next installment of PYMNTS\u2019 miniseries on consumer behavior that became more widespread as a result of the pandemic focuses on healthcare monitoring technology.\nWearables and other healthcare monitoring tech were just catching on when COVID-19 hit, and the crisis in many ways set the perfect stage for wearables to be propelled into widespread popularity. \nWith doctor offices at first being shuttered during lockdowns and then notoriously difficult to find appointments for, digital tools became a bridge. Many consumers had wellness on the mind and were particularly attuned to their heart rate, oxygen levels and temperature for both routine and specialized health purposes. \nUse of these digital healthcare-related tools has extended beyond the pandemic\u2019s emergency status, and PYMNTS\u2019 data suggests that wearables and health monitoring technologies are on track to become a permanent part of participating consumers\u2019 daily lives.\nAlong a slightly bumpy upward trajectory, adoption of health-monitoring tech is on the rise, illustrated in the PYMNTS collaboration with CareCredit, \u201cConnected Wellness: Tracking The Rise Of Health-Tracking Technology.\u201d Here, all three tracked categories \u2014 use of a health-monitoring website or app, use of at least one health-monitoring technology and health-monitoring wearable use \u2014 have seen upticks.\n\nWith healthcare app and tool use (a category that includes wearables) overall growing 21% between November 2021 and November 2022, the report finds that, \u201chealth-tracking technology is the single most used connected health technology in the U.S. Roughly one-third of consumers used other connected health technologies last month, including telemedicine appointment portals and social exercise.\u201d\nHealth-monitoring wearable use is led by Gen Z, and PYMNTS\u2019 March \u201cConnectedEconomy Monthly Report\u201d found\u00a0that 30% of the generation use these tools daily. Millennials weren\u2019t far behind, with 27% saying the same. This strong adoption by younger generations gives credence to wearable and other healthcare-monitoring tech\u2019s staying power. And with both\u00a0runway-ready\u00a0and\u00a0robust\u00a0wearable jewelry coming to market, some companies are seeing a path to profitability in this niche.\nWearables and other healthcare technologies may have gained popularity during the pandemic, but they are now enjoying adoption into consumers\u2019 daily lives on their own. And as other installments of this miniseries will illustrate, some of the biggest digital gains from the recent health crisis are set to allow consumers to be more connected permanently.\nThe post Health Tracking Tech Takes Center Stage appeared first on PYMNTS.com.", "date_published": "2023-06-29T04:00:10-04:00", "date_modified": "2023-06-28T22:34:54-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/06/health-tech-wearables.jpg", "tags": [ "connected health", "Featured News", "health tech", "health tracking", "Healthcare", "News", "Wearables" ] } ] }