This disclosure relates to a smart wearable device and a contactless payment method, said smart wearable device comprising: an information storage unit, a control unit and a wireless communication unit, wherein, the information storage unit is used for storing information of one or more bank cards; the control unit is used for identifying gathering means based on information of the gathering means received by the wireless communication unit, reading bank card information from the information storage unit, and controlling the wireless communication unit to transmit the read bank card information to the gathering means for payment. By means of the technical solution of this disclosure, contactless payment operation can be performed through the smart wearable device, so as to reduce personal effects carried by the user, increase life convenience of the user, and enhance user experience.