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.

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.

With half a billion wearable devices shipping in the next few years and going straight onto wrists, shoes, glasses and lapels, soon interacting with smart cities will seem as 'normal' as checking Facebook.

As part of an ongoing drive for seamless payment systems, PayPal has released the PayPal Beacon, which selected merchants can keep in-store. Consumers will be able to Check In with choice stores via the PayPal app and pay using verbal confirmation.