Indeed. But still, there must be some sort of "credit score" behind these devices. It can't just give money to a vendor. It must be based on some prior amount agreed between Garmin Pay and the bank or card provider.

Take a debit card for example. It's connected to a bank account, and cannot give credit. Garmin must be taking some of the risk on board, since the bank or card provider do not.

There's also the fact that anecdotally people are reporting different spend limits. On a thread I saw one person claim that £30 was their limit and another saying "My largest payment so far on the watch has been £275"