Tag: swatch

Swatch may be entering the mobile payments space

Swatch to introduce a new wearable device in the coming months

Swiss watchmaker Swatch has plans to sell an affordable wearable device that is capable of making mobile payments. The company has been showing more interest in wearable technology, especially as others begin developing such devices for the consumer market. Swatch is no stranger to wearable technology, as watches are a form of such technology themselves, but the company has not yet build what could be called a “smartphone worn on the wrist.”

New device will have mobile payments capabilities, supported by NFC technology

Swatch is expected to unveil its wearable device in either July or August of this year. The company believes that it will compete with Apple Watch, which was released in April. The device will be called the Swatch New Gent watch and will come equipped with NFC technology. NFC currently makes up much of the mobile payments infrastructure, serving as the tool that many platforms use in order to make mobile transactions possible.

Swatch may compete with Apple with its inexpensive wearable device

Mobile Payments - SwatchOne of the attractive features of the new wearable device is its pricing point. Swatch CEO Nick Hayek claims that the least expensive iterations of the new watch will cost approximately $5.49, a far cry from the $349 price tag of the least expensive Apple Watch. More advanced versions of Swatch’s watch will be more expensive, but not by much. The low price of the device could make the watch more attractive to consumers that are interested in wearable technology.

Swatch is forming partnerships to make its efforts in the mobile payments space a success

Swatch claims to be entering into a major deal with a global credit card company to bring its mobile payments interests into a reality. The company is also considering adding NFC capabilities to its other brands, but has not offered any details concerning this plan. The company may soon become a prominent player in the mobile payments space, if its plans with its wearable device move forward without trouble.

Swatch leaps into the smartwatch market with both feet

The wristwatch maker and tech company has revealed its plans to compete in the wearable technology category.

The bestselling watchmaker in the world, Swatch Group, has now announced its intentions to introduce new models of smartwatch that will allow consumers to be able to display data from smartphones and to even make contactless payments by way of wearable technology.

The CEO of the company, Nick Hayek, has stated that the first versions of this gadget will be available in May.

At the same time, Hayek made it clear that Swatch doesn’t intend to try to replicate the types of smartwatch that have now been launched by many of the major players in the wearable tech categories, such as Motorola, Pebble, and Apple. Those fully featured devices are not the type of product that this company will be producing, at least not for the first wave. As a company that currently sells 18 percent of all wristwatches in the world, it could be possible that Swatch has a good idea as to what consumers really want to be wearing and what they want from those devices.

Swatch is now adding the smartwatch to its massive lineup that has consistently been growing its market share.

Smartwatch - SwatchThe company makes wristwatches under a range of different brands, including Calvin Klein, Omega, Breguet, Rado, and several others, in addition to its own. It has managed to maintain a consistent growth of its market share over a steady five years and has seen significant sales growth, as well, despite the fact that wristwatches had been somewhat falling out of favor as an accessory.

Now, the company is stepping into a market that already feels flooded, even before these wearable technology devices have started becoming commonplace. Nick Hayek explained that there will be two types of wireless technology incorporated into the first wearables released by the brand. The first will be NFC technology. This will make it possible for the gadgets to trigger contactless payments, unlock hotel room doors and other compatible locks. The second will be Bluetooth, which will allow data to be sent and received through communication between the smartwatches and smartphones.