Yeah, that's a terrible idea.
First, it's wireless, so I can "grab" your identity when you walk by. That'll be handy. It's even going to be strapped to a similar body part, so I can know exactly where to "accidentally" bump into you if it requires pushing a button to activate.
Second, you are transmitting the code through the purchase system. That's very handy, because I can just capture the code via your compromised PC.
"Two-factor" authentication systems work because the data does not flow through a single system. If my credit company texts me a one-time PIN to approve a purchase, you have to intercept both the purchase and the text message. The text message also lets me verify the purchase (Hey, the cash register says $23, but the text message says $475).
Third, it's a surveillance state dream come true.
You then bring up thought leaders, demonstrating that this is either sarcasm or massive stupidity.