ABN Amro might be on to something with its recent wearables pilot.
The bank launched a pilot earlier this year in which 500 clients were asked to make payments using wearables. Of these clients, 78 percent of users now prefer the wearables and only 19 percent prefer their debit cards, according to a press release.
On average, clients make six payments a week for amounts under 25 euros. ABN Amro is extending the pilot to test new functionalities with this pilot group.
The bank did not reveal in the press release which wearables customers used in the pilot.
During the pilot, clients provided feedback using a dedicated app. Some of their suggestions led to adjustments while the pilot was ongoing, and other new features are now being developed.
The majority of clients wanted to be able to see payments made with the wearable real-time in their mobile banking app, rather than a day later as is now the case. Also, clients want to be able to make payments over 25 euros with their wearables and PINs.