The Heritage Bank Power Suit: Wearable payment technology with style

Heritage has a long history of pioneering tech-savvy, convenient ways for our customers to bank. We were one of the first financial institutions in Australia to introduce online banking (way back in 1999) and our pre-paid card expertise powers payment technologies for some of the biggest brands in the country (including Qantas, Optus and Australia Post). As the idea of wearable technology becomes more popular, and smart watches and smart glasses become a reality, we thought the time was right to start putting our payment expertise in more places. The result is a top-secret project called The Heritage Power Suit.

Tailored in Japan by MJ Bale, made from the finest Australian merino wool, and powered by Heritage Bank's cutting-edge payment technology, our new 'Payweave' suits allow wearers to purchase items at any Visa payWave terminal by simply swiping their sleeve. We’ve already tailored a trial run of suits to test the concept, and have released 11 prototypes to a number of lucky customers around the country. The 12th suit recently sold via a charity auction for $510.

Sold! The Heritage Power Suit ebay auction is now finalised

The Heritage Power Suit has been sold for $510 to one lucky bidder via ebay. All proceeds from the sale of the suit will go to Mat Rogers' charity 4 ASD Kids, so not only will the winner be getting some of the finest, most tech-savvy threads in the world, they'll also be helping raise money and awareness for children with autism spectrum disorders!

Who's talking about the Heritage Bank Power Suit?

Watch the Today Show's story on 'the suit of the future'

Heritage Bank Power Suit on Today Today show reporter Chris Urquhart took a prototype of the Heritage Bank Power Suit for a spin and tried out the future of wearable payment technology for himself. We reckon he's a shoe-in (or should that be a 'suit-in'?) to be the next James Bond. Looking good Chris.

Heritage Bank Power Suit FAQ

Are the suits going to be available to everyone?

At the moment we've only made 12 prototype suits. Depending on how well they test, we'll look at making more suits available in future.

How can I get a suit?

We've made one of these futuristic suits available to a lucky member of the public. It has now been sold via online auction with all proceeds going to the charity Mat Rogers set up with his wife, 4 ASD Kids.

What is the suit made from?

The prototype suits are made from 100% superfine Australian merino wool and have a stylish cut overseen by master Japanese tailor, Kenichi Kaneko.

Are you putting the technology into any other items?

As a customer-owned bank we're always keen to find new ways to make banking more convenient for our customers (we were one of the first banks in Australia to introduce online banking way back in 1999), so we're always on the look-out for other exciting ways to use wearable payment technology. Stay tuned!

How does the chip and payment work?

By hand threading this new contactless payment chip and antenna into the sleeve of a suit, the process works the same way all Visa payWave transactions are made. The chip links to a Heritage Bank account, allowing the wearer to check the balance and reload their suit on-the-go using Heritage mobile banking.The chip works using Visa payWave Near Field Communication (NFC) technology. NFC is a set of standards that allow devices (cards, smartphones etc.) to establish communication with each other by bringing them into close proximity.

How do you put money on the suit?

All you need to do is open a Heritage Bank transaction account and we do the rest. You can open an account online, in any Heritage Bank branch, or at Australia Post outlets nationally. The suit then functions the same as an ordinary Visa payWave card.

Is the suit dry cleanable?

Yes, this suit can be dry cleaned and the technology will still work perfectly.

What happens if you lose your suit?

The suit is linked to an online Heritage Bank account so users can suspend or cancel it instantly if they ever lose the suit. You won't be liable for any unauthorised charges.

* Based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.