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Smartwatch app answers: Which card?

By Jeanine Skowronski · Bankrate.com
Thursday, July 24, 2014
Posted: 11 am ET

Confused about which of your credit cards to use at the local gas station? Fortunately, there's now a watch that can help you with that.

Startup company Wallaby Financial has launched a new smartwatch app for the Samsung Gear 2 that will tell you at a glance which card in your wallet is the best choice before you make a purchase.

Once you load and open the app, it will locate you and show you the best card by store category or allow you to click through to a list of nearby stores.

You can "customize virtually every aspect of it," says Matthew Goldman, CEO of Wallaby.

For example, the app can suggest cards based on which will earn the most rewards points on a purchase. It can also suggest cards based on their balance and credit utilization. All recommendations are unbiased, meaning they're not influenced by any marketing relationship Wallaby has with card issuers.

This is the third app that Wallaby has launched for wearable technology. It previously launched Pay With Wallaby for Google Glass and Wallaby for Pebble. It also has apps available for iOS and Android phones. All of them are free. The Samsung Gear 2 retails for $299.99.

Wallaby is also currently working on a physical card meant to serve as an access point to a consumer's digital wallet. But Goldman says the card isn’t going to preclude the startup from getting a jump on other aspects of mobile payments.

"Ultimately, in the long run, we believe wearable devices are going to be a big part of how we get information and how we pay," he says.

You can't pay with Wallaby's smartwatch app just yet, though Goldman hopes that will one day become a possibility.

Would you use a watch that lets you know what credit card to pull out at the point of purchase? Let us know in the comments below!

Follow me on Twitter: @JeanineSko.

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