Earlier this month, Australia’s Heritage Bank teamed up with Visa to launch The Heritage Power Suit, a wearable technology outfit with an inbuilt payment chip sewn into its sleeve. The suave suit lets the wearer pay for items at Visa payWave terminals with a simple swipe of their cuff.

Japanese tailors MJ Bale have hand-stitched the outfit, which is made from Australian merino wool, spun by Italian weavers.

Marketed as “wearable technology that a gentleman would actually wear,” the Power Suit is being tested on 11 lucky customers at the moment. A 12th prototype was recently auctioned off on eBay, with proceeds going to charity.

Swedish company Quixter recently developed a payment method based on “vein-scanning,” which works by scanning the unique vein patterns in each person’s palm and allows consumers to pay for goods by placing their hand to a scanner for less than five seconds.