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Shopping from Wearables Growing Rapidly

The potential of wrist-based payments is already in evidence via radio frequency identification bands at festivals and live events, with the demand expected to double this year and cashless payments a key application.Payment transaction volume on wearables will reach $501 billion by 2020, growing at a compound annual growth rate of 177 percent and representing 20 percent of total mobile proximity transaction volume, according to a new report from Tractica.

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