Stratos Releases ‘State of Wearable Technology’ Research

Stratos Inc., has released the results of its wearables payment study. The research found that about 30% of U.S. smartphone owners already have a wearable device. The most popular of these devices included the Fit Bit or Jawbone and the least popular were smart glasses and smart clips.

According to the study, those who owned a wearable said they had the following:

• Smart wristband (53%)
• Wearable camera (32%)
• Smart clip (26%)
• Smart watch (24%)
• Smart glasses (10%)

Participants also said they would be interested in making in-store payments with their wearable devices. The preferred method for payments was through a connected card, with 49% response. Other preferred methods of wearable payment include:

• Mobile device (32%)
• Watch (9%)
• Arm or wristband (8%)
• Smart clip (2%)
• Shoe (0.7%)

“Consumers are rapidly incorporating wearable technology into their lives, but they want ‘the right wearable for the right function’,” said Thiago Olson, co-founder and CEO of Stratos Inc. “Just like a wristband feels right for health monitoring — the connected card with its familiar plastic form is the preferred payment wearable. But of course, the fact that the card is connected allows them to manage their payments in a way traditional cards can’t begin to equal. It’s going to be an exciting year for wearables — and for payments.”

For more information, visit Stratos Inc.

Sources: Press materials received from the company and additional information gleaned from the company’s website.