New Fitbit Bands Soon May Double Up as Mobile Wallets: The Fitbit users could soon make the payments with the flick of wrist, as the maker of the simple but hugely popular fitness bands races to pack some more features in its products.
New Fitbit Bands Soon May Double Up as Mobile Wallets
On Wednesday, Fitbit Inc said that it bought wearable payment technology assets from the Silicon Valley Startup Coin, that will the devices that will use near-field communication (NFC).
To foray into this technology, the Fitbit is not the first wearable device that will the users to make the payments through their smartphones, fitness bands and smartwatches.
To let the users, pay through its premium UP4 fitness band, Rival Jawbone has already tied up with the American Express Co.
NFC has featured in some of the mobile devices and it is used in the Apple Watch as well as payment services like Samsung Pay, Google Wallet and Apple Pay.
The deal could help it to catch up on the technology for Fitbit that dominates the wearable devices market that is becoming increasingly popular with the retailers and users.
On Wednesday, however the company said that it had no plans to introduce the technology for its devices this year, but it may integrate in the future gadgets.
Also Read: Fitbit Blaze Review in First Impression
Fitbit also said that the deal with the coin that was debuted on crowdfunding platform Kickstarter in 2013, includes the intellectual property and key personnel.
On May 12, the terms of the deal that was completed were not disclosed. This deal does not include the Coin 2.0, a payment device that combines credit, gift cards and debit. Coin said that it would discontinue the device.
The Apple Watch that supports the Apple Pay with an estimated 1.5 million devices that were shipped in the quarter according to IDC remains the most popular.
On Wednesday Fitbit also said that it would make its Fitbit Alts and Fitbit Blaze smartwatches available in Chine.