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Fitbit acquires mobile payment technology from startup Coin

Thursday 19 May 2016 10:02 CET | News

Fitbit has announced the acquisition of wearable payment technology assets from Silicon Valley startup Coin. Users could soon make payments with a flick of the wrist.

Fitbit, though, is not the first wearable device maker to foray into this technology, which allows users to make payments through their smartphones, smartwatches or fitness bands.

Rival Jawbone has already tied up with American Express to let users pay through its premium UP4 fitness band. NFC has featured prominently in some mobile devices and is used in the Apple Watch as well as payment services such as Apple Pay, Samsung Pay and Google Wallet.

For Fitbit, which dominates the wearable devices market, the deal could help it catch up on a technology that is becoming increasingly popular with users and retailers.

More than that, the company mentioned it had no plans to introduce the technology to its devices this year, but may integrate it in future gadgets. 


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Keywords: Fitbit, mobile payments, startups, Coin, contactless
Categories: Payments & Commerce
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Countries: World
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