New Fitbit Bands may additionally soon Double Up as cell Wallets

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New Fitbit Bands May Soon Double Up as Mobile Wallets

Fitbit users may want to quickly make bills with a flick of the wrist, because the maker of the easy buthighly famous health bands races to p.c. in extra capabilities in its merchandise.

Fitbit Inc said on Wednesday it offered wearable payment technology property from Silicon Valley startup Coin, which makes devices that use close tosubject verbal exchange (NFC).

Fitbit, though, isn’t the primary wearable tool maker to foray into this era, which lets in users to make billsvia their smartphones, smartwatches or health bands.

Rival Jawbone has already tied up with American specific Co to permit users pay through its top rate UP4health band.

NFC has featured prominently in some mobile devices and is used in the Apple Watch as well as chargeofferings inclusive of Apple Pay, Samsung Pay and Google pockets.

For Fitbit, which dominates the wearable devices market, the deal ought to assist it catch up on atechnology that is becoming an increasing number of popular with customers and shops.

The corporation, but, stated on Wednesday it had no plans to introduce the technology to its devices this12 months, but may additionally integrate it in future gadgets.

Fitbit stated the cope with Coin, which debuted on crowdfunding platform Kickstarter in 2013, consists ofkey employees and highbrow property.

The terms of the deal, which became completed on may additionally 12, were now not disclosed. A Fitbit spokeswoman told Reuters the deal would not materially have an effect on the agency.

The deal does no longer include Coin 2.0, a fee device that combines debit, credit and present playing cards. Coin said it would discontinue the device.

Fitbit retained its sturdy grasp on the wearables market in the first area, accounting for nearly a quarter of it, in keeping with an IDC record released on Monday.

but, the Apple Watch, which supports Apple Pay, stays the maximum popular smartwatch, with ananticipated 1.5 million devices shipped in the sector in keeping with IDC.

Fitbit also stated on Wednesday that it’d make its Fitbit Blaze and Fitbit Alta smartwatches to be had in China.

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

© Thomson Reuters 2016

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