The ABnote-LAKS Smart Transaction Watch

November 23, 2008 Approximately 1.1 billion watches are produced annually and around three billion credit cards are issued, which makes the LAKS Smart Transaction Watch look like a significant market opportunity given that it combines both. Laks is one of the most innovative producers of wrist-worn gadgetry in the world, with specialty watches that track the phases of the moon, play Mp3s and even monitor fertility cycles to aid women in getting pregnant, so the ingenuity of putting a smart card into a wristwatch to readily facilitate contactless payments was probably a no brainer for them. Perhaps one day we'll all be wearing these things, though our money is on the mobile phone being the logical long-term winner as the platform for contactless payments.

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