Electronic keys.
The watch is strapped to your wrist and won't get lost or misplaced as easily, so would be ideal for keeping your electronic keys. The watch will keep your smartphone unlocked whenever it in your hand so you won't need to mess with passcodes or fingerprints and locks once the watch isn't close enough anymore. Also smart door locks for your home could be automatically unlocked when you get near it. Electronic car keys can be added to your watch to unlock your car as well.
My car already has smart unlock. If I grab the handle to open the door, it automatically unlocks, because the car senses the fob in my pocket.
Note that the fob has no key sticking out of it. It's just a fob, unless I disassemble it to get the emergency key that's inside it.
Similarly, to start the car, I just press the start button on my dashboard. No need to take out the fob or the key.
Thus, I have to keep the fob with me anyway, so I have no need for this in my phone or my non-existent watch.
Easy retail store payments.
Instead of having to take out the phone to swipe it for payments at retail stores, just swipe your wrist over the scanner instead. It's faster and more convenient.
My credit cards have NFC. I use different credit cards for different purposes, so I need the ability to choose the credit card.
Currently, I open my wallet, pick the card I want, and tap it against the reader to pay. Plus, I need to keep the cards with me anyway for places that don't have wireless readers. So for both reasons, I have no use for this in my phone or my non-existent watch.
I understand that credit card payment using PayPass/PayWave is uncommon in the US, but I don't live there. I live in Canada where it's all over the place, including on gas pumps and the like. I will note though that neither my American Express nor my US dollar credit card have NFC, but all of my other cards do.
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