Jawbone and AmEx have announced a partnership that will see the integration of a payment feature in an upcoming version of the wearable device.
The emergence of activity-tracking bands escalated from a niche lifestyle tool into an expected accessory and given the dominant stance the Apple Watch is sure to take in the market, it seems likely that fitness-centered bands will expand their services to include more features.
As banks and brands race to develop apps that offer connectivity with wearables, the Jawbone and AmEx partnership is a telling collaboration and likely something we will see a lot more of. Given the integration of mobile payment systems in the Apple Watch, Jawbone's decision to work with AmEx is a timely one.
Fitness Band Payments
Jawbone and AmEx Have Announced a Partnership Involving a New Device
Trend Themes
1. Wearable Payment Integration - The integration of payment features in wearable devices presents opportunities for disruptive innovation in the banking and technology industries.
2. Expanded Services for Fitness Bands - Fitness-centered bands are expected to expand their services beyond activity-tracking to include more features, creating opportunities for disruptive innovation in the wearable technology industry.
3. Collaboration Between Banks and Wearable Brands - The collaboration between Jawbone and AmEx highlights the trend of banks and brands working together to develop apps and connectivity with wearables, opening up opportunities for disruptive innovation in the financial technology industry.
Industry Implications
1. Banking - The integration of payment features in wearable devices creates disruptive innovation opportunities for banks to develop new ways for customers to make secure transactions.
2. Technology - The expansion of services for fitness bands presents disruptive innovation opportunities for technology companies to develop innovative features and functionalities for wearable devices.
3. Financial Technology - The collaboration between Jawbone and AmEx represents a disruptive innovation opportunity for the financial technology industry to integrate mobile payment systems and enhance customer experiences with wearables.