In an article posted by creditunionsonline.com, the author discusses the rise of technologies such as the Apple Watch and what it means for consumers, specifically credit union members.
“While some critics may roll their eyes that ‘another toy’ is being introduced on the technology market,” the article reads. “The smart watch may prove to be the best ‘toy’ to hit the market yet.”
Author Gina Ragusa goes on to explain that from a banking aspect, consumers are able to use a multitude of apps to help save money, track finances, budget and even enhance security measures.
“Critics contend that smartphone/smart watches offer considerably less opportunities for thieves to nab your data, unlike with a traditional credit card,” Ragusa writes. “In the case of Apple Pay, MarketWatch found that if your watch or mobile device were stolen, sensors would lock Apple Pay, preventing anyone from using it without your special passcode.”
Ragusa continues, saying that as current apps are being tested, possibilities for the smart watch are endless — including the advent of price comparison apps and expense warnings.
To read the full article, which includes a list of credit unions that currently offer mobile apps compatible with smart watch banking apps, click HERE!