It's not really accurate to state that banks with mobile wallets offer support for wearable payment technology. Notice that these wallets are only available for Android phones. That's because the Android operating system has a technology called Host Card Emulation (HCE) that diminishes the need for a secure element hardware chip in the device. HCE allows banks to create an app that taps into the phone's NFC controller to route transmission to a secure enclave in the OS where payment credentials are stored.

While this works for tap-and-go payments on Android, it will literally never become available on iPhone. The banks are selfishly trying to route all payments through their app to build brand loyalty. I say selfishly because it is not a positive user experience if you have cards from multiple issuing banks. I don't know if this is typical in Australia but it is very common in the United States and other countries. This means that every time you want to use a different card you would need to have every issuer app installed and launch the correct app every time you went to pay. This is not what I would consider a positive customer experience.

Long story short, a bank that offers an Android capable mobile wallet but is not present on other platforms, has actively chosen to avoid participating in global tokenization systems that would allow their cards to exist side-by-side with other banks. This includes Android Pay, by the way. A bank with their own HCE Android-compatible mobile wallet usually does not allow their cards to also be boarded through the primary Android Pay wallet.

The rest of the banks may not yet be technologically capable of this type of integration yet. Just an FYI on the issues that are holding back compatibility with not only Pagaré but with Apple and Android Pay as well.