People prefer wearable devices that are unobtrusive, fit into daily life and existing habits, and look stylish. But even if all these boxes are ticked, do they really want to wear technology on their wrists, faces and around their necks?

With 2 million users, a deal with Starbucks, and $6 billion worth of transactions, Square is turning smartphones into checkouts, digitising loyalty schemes and reshaping how consumers spend – without using NFC technology.

As smart technology changes the way consumers interact with brands and products, innovations like Disney's MyMagic+ are leading the charge towards contactless payment and a smarter, more efficient world.

As part of its Uncarrier repositioning, T-Mobile is launching into the banking business with a pre-paid debit card and banking app. But if people aren't willing to trust banks with their cash, why should they trust a telecoms provider?