New Fitbit Bands May Soon Double Up as Mobile Wallets

Fitbit customers could soon make payments with a flick of the wrist, because the maker of the simple but extremely famous health bands races to p.c. in extra capabilities in its products.

Fitbit Inc said on Wednesday it bought wearable fee generation assets from Silicon Valley startup Coin, which makes gadgets that use close to-discipline communication (NFC).

Fitbit, although, isn’t always the first wearable tool maker to foray into this era, which permits users to make payments via their smartphones, smartwatches or health bands.

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

NFC has featured prominently in a few cell devices and is used within the Apple Watch in addition to payment services which includes Apple Pay, Samsung Pay and Google pockets.

For Fitbit, which dominates the wearable devices market, the deal may want to assist it catch up on a generation that is becoming more and more famous with users and stores.

The organization, however, stated on Wednesday it had no plans to introduce the technology to its gadgets this 12 months, however may additionally combine it in destiny gadgets.

Fitbit stated the cope with Coin, which debuted on crowdfunding platform Kickstarter in 2013, consists of key personnel and intellectual assets.

The terms of the deal, which changed into completed on may additionally 12, had been no longer disclosed. A Fitbit spokeswoman advised Reuters the deal would now not materially affect the enterprise.

The deal does not encompass Coin 2.zero, a fee device that combines debit, credit and gift playing cards. Coin said it might discontinue the device.

Fitbit retained its robust hold close at the wearables market inside the first area, accounting for nearly a quarter of it, in line with an IDC file launched on Monday.

but, the Apple Watch, which supports Apple Pay, remains the maximum famous smartwatch, with an estimated 1.five million gadgets shipped in the sector in line with IDC.

Fitbit also said on Wednesday that it’d make its Fitbit Blaze and Fitbit Alta smartwatches available in China.

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

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