Swatch unveiled a new watch with NFC and partners with China's UnionPay to launch mobile payment.
Swatch unveiled the Bellamy, a new "pay-by-the-wrist" watch. Swatch managed to establish a partnership with China UnionPay and Bank of Communications to introduce contactless payment in China. This is an accomplishment that Apple has not pulled off for the Apple Watch yet in China.
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The first four Bellamy watch models combine a colorful yet functional Swatch design with built-in NFC (Near Field Communication) technology, allowing people to use their watches to pay for purchases in shops and stores around the country.
The NFC technology uses high-frequency radio waves to enable electronic devices to communicate over short distances. Like a prepaid bankcard, a the Bellamy watch allows consumers to pay for items using merchants' contactless POS terminals.
Pay-by-the wrist transactions require absolutely no energy at all from the watch. The Swatch Bellamy will be sold for about $90 at Bank of Communications locations.
Swatch says that the Bellamy Swatch will soon be launched in Switzerland with a Swiss bank and secure transaction partner, as well as in the USA.
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Swatch strategy for smartwatches is to offer singular features in low priced watches. The Swiss watch maker will not offer a smartwatch that competes with the Apple Watch or ther full features smartwatches. The Bellamy is second Swatch single feature smartwatch after the Swatch Touch Zero One.