On Wednesday, Swatch has launched a new NFC powered payment system for its Watch in China at an event held in Shanghai. Swatch has partnered with Bank of Communications and China UnionPay in China to launch this new watch, which will roll out in January next year.
The Swiss company has unveiled Swatch Bellamy smartwatch at the event, which will allow user to do contactless payments. This watch uses NFC (Near Field Communication) technology that let customers pay the bill by touching the watch on a terminal.
Swatch is ready to take on the Apple Watch and Samsung Gear Smartwatch. According to analyst, Swatch Bellamy will prove tough competition to Apple Watch due to its lower price. The Swatch Bellamy will be available in the Chinese market at the price of 580 Yuan (which is equal to about $90). This smartwatch can be bought from Swatch and Bocom store from January next year. Swatch Bellamy will also come to US and Switzerland after its release in China.
Nick Hayek, the CEO of Swatch said that the company is releasing Swatch Bellamy in China first rather than its home country Switzerland, because of the slow process of Swiss banks, as they are taking time to approve this new technology. This addition of NFC tech to Swatch Bellamy watch makes it more useful and demanding. It will be interesting to see how this NFC enabled smartwatch from Swatch performs once it roll out in China.