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PayPal App Launches for Pebble Smartwatches

PayPal announced the launch of its app for Pebble smartwatches as interest in banking and payments with wearables rises.

Wearables seem to be making some noise in financial services. PayPal announced yesterday that it has introduced its app for Pebble smartwatches, and now has its app available on all wearable device platforms including Samsung Gear and Android Wear devices.

The launch comes just a week after new research from Cisco showed that nearly half (47%) of US banking customers are interested in banking and payments capabilities on smartwatch devices. The survey found that 28% of the 600-plus respondents would like to use a smartwatch to check balances, 23% would like to transfer funds between accounts, and 22% would like to be able to pay for an item in-store.

[For more on Cisco's banking customer survey, check out: For Banks, Business Needs to Get Personal.]

The PayPal app for Pebble will allow users to pay by checking in to business locations on the app, or via a payment code delivered through the app. Users will also be able to receive payments alerts on their Pebble device.

PayPal’s Pebble app launch also coincided with Apple’s announcement yesterday that developers can start building apps for its upcoming Apple Watch. Apple’s device is expected to give the whole smartwatch market a boost when it is released early next year. 

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

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Becca L
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Becca L,
User Rank: Author
11/29/2014 | 2:56:44 PM
Re: Smart move
The options are really endless. A lot of interesting P2P payment systems like Square Cash and Venmo have become very popular on smartphones, but I havent seen them in wearables yet. It will be interesting to observe the ways people leverage PayPal on Pebble, and what features PayPay add next.
Becca L
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Becca L,
User Rank: Author
11/29/2014 | 2:45:58 PM
Re: Smart move
At the Citi Mobile event I agree that east coast vs west coast emphasis on wearables was a surprise, especially because it attracted some foreign presenters as well. Maybe there's soemthing in the water :-)
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
11/26/2014 | 11:25:20 AM
Re: Smart move
Yeah it could also be good for P2P payments. You and a friend are splitting a bill at a restaurant, and then you could send them the money on your smartwatch without having to dig out your phone.
Kelly22
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Kelly22,
User Rank: Author
11/26/2014 | 10:57:46 AM
Re: Smart move
That's one good example of how smartwatches could make mobile payments even easier. In situations where people have their phone buried at the bottom of a bag, or are talking on the phone at the store, a smartwatch could make payments quick and simple.
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
11/26/2014 | 9:49:45 AM
Re: Smart move
Yeah in the long term it's the ultimate form factor for convenience for making an in-store payment, and for other banking functions, like just checking your balance. Interestingly, I went to Citi's Mobile Challenge hackathon a couple weeks ago, and none of the developers presenting had solutions for wearables. The Citi team told me though that when they did the same hackathon in Silicon Valley previously, everything that was presented had to do with wearables. Maybe the East Coast needs to catch up on this trend.
Nathan Golia
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Nathan Golia,
User Rank: Author
11/25/2014 | 9:38:03 PM
Smart move
Smartwatches are ideal payment devices — they are easily accessible at a moment's notice. Yes, it will matter at times that you can't even reach into your pocket for your phone — getting out of a cab in the rain, for example.
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