New Fitbit Bands might also soon Double Up as cell Wallets

New Fitbit Bands May Soon Double Up as Mobile Wallets

Fitbit users should soon make payments with a flick of the wrist, because the maker of the easy yethighly famous health bands races to % in more capabilities in its merchandise.

Fitbit Inc stated on Wednesday it sold wearable payment technology belongings from Silicon Valley startup Coin, which makes gadgets that use close tosubject communication (NFC).

Fitbit, though, isn’t the primary wearable tool maker to foray into this generation, which permits users to make bills thru their smartphones, smartwatches or fitness bands.

Rival Jawbone has already tied up with American express Co to permit customers pay through its top class UP4 health band.

NFC has featured prominently in a few cell devices and is used inside the Apple Watch as well aspayment offerings which includes Apple Pay, Samsung Pay and Google wallet.

For Fitbit, which dominates the wearable gadgets marketplace, the deal may want to assist it seize up on atechnology this is turning into an increasing number of popular with customers and shops.

The company, but, said on Wednesday it had no plans to introduce the technology to its gadgets thisyear, however can also integrate it in future devices.

Fitbit stated the deal with Coin, which debuted on crowdfunding platform Kickstarter in 2013, includes keyemployees and highbrow assets.

The terms of the deal, which became completed on may additionally 12, were now not disclosed. A Fitbit spokeswoman told Reuters the deal could not materially affect the enterprise.

The deal does not consist of Coin 2.0, a charge device that mixes debit, credit score and present cards. Coin stated it’d stop the tool.

Fitbit retained its sturdy grasp on the wearables market within the first region, accounting for almost a quarter of it, in step with an IDC record released on Monday.

however, the Apple Watch, which supports Apple Pay, remains the most famous smartwatch, with anestimated 1.5 million devices shipped in the zone according to IDC.

Fitbit additionally said on Wednesday that it might make its Fitbit Blaze and Fitbit Alta smartwatchesavailable in China.

Fitbit’s shares have been unchanged in afternoon buying and selling on Wednesday.

© Thomson Reuters 2016

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Tags: Apps, Coin, Fitbit, net, Wearables