Calling Dick Tracy POS

MasterCard today tolled out its PayPass watch in Taiwan today, allowing consumers to pay with contactless without having to take out a credit card. The watch comes with some small retail discounts, but Taiwan consumers are expected to show minimal resistance.

Would this catch on in the United States? Not likely, unless the discounts were a lot more generous than the 10 percent discount in one chain being offered with today's promotion.

But it's hard to beat the sex appeal of a lime-green watch with a vendor's brand on it. Rolex, watch out.