Mobile Payments on a Watch?: 5 Things to Know for the Week

Simon Zhen

By , Staff Writer
Posted on Mon Feb 11, 2013, Last Updated on Tue Jul 15, 2014

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The chatter regarding mobile payments continues with a new revelation: Apple is experimenting with a wristwatch concept that could be another “mobile” platform that houses payment capabilities. Could the idea of the mobile wallet move from our smartphones to such next-generation wristwatches?

  • Bank customers in the Northeast may have been inconvenienced by the sudden branches closures that came ahead of the major snowstorm. If you’ve incurred any fees as a direct result of branch inaccessibility, speak with a bank associate for possible financial relief.
  • On Sunday, the IRS began accepting tax returns with depreciation claims on federal form 4562, Depreciation and Amortization. On Thursday, taxpayers may also begin filing tax returns that claim education credits — federal form 8863, Education Credits.
  • Apple is testing a wristwatch concept that may come equipped with mobile-payments functionality — even though such a feature is not yet available with the company’s iPhones. It’s just another example of how financial technology is coming to wristwatches (check out’s concept).
  • More states are seeking a ban to the credit card surcharges that may have been on the minds of many consumers. In addition to the 10 states that already prohibit such surcharges, these states are considering a similar rule: Hawaii, Missouri, New Jersey, Pennsylvania, Rhode Island, Utah, Vermont and West Virginia. Most retailers don’t appear to be charging credit card checkout fees but these laws could settle consumer fears for good.
  • Valentine’s Day is this week and couples are looking to spend more this year. According to a survey by American Express, those that plan to spend on their significant other will shell out $260 on average, up from $196 in 2012. And, it’s not much of a purchase that the guys will be spending more (men, $272; women, $209).

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