A wearable device and a data interaction method that is based on said wearable device is disclosed. The wearable device can comprise a card reading chip, a micro control chip and a chip connected thereto. The card reading chip can be used to carry out a first data write operation on the payment account of the chip as controlled by the micro control chip, such that the payment account has the recharging data. The chip can be used to deduct the interaction data from the payment account. The wearable device can be used to replace a conventional swipe card reader in recharging and interaction, and the portability of the wearable device can greatly improve the convenience of an e-card solution.