Fitbit acquires mobile payment firm Coin, plans to launch NFC payment solution
Fitbit recently acquired mobile payment firm Coin and plans to accelerate its development of an active NFC payment solution for its future wearables.
Fitbit's line of activity trackers. <br> From left, the Charge, Charge HR and the Surge.
Fitbit is entering into the mobile payment space after its recent acquisition of payments hardware firm Coin.
The company told The Next Web that "the acquisition accelerates Fitbit’s ability to develop an active NFC payment solution that could be embedded into future Fitbit devices, broadening its smart capabilities.” However, do not expect the NFC payment solution to debut this year as it is too late to integrate the technology in this year's products.
Coin made the headlines in 2014 with its smart payment card that can store all your credit cards. Just eight months ago, the company launched a version 2.0 of the product for contactless payments. It remains to be seen if Fitbit's mobile payment service can compete successfully against Apple Pay, Samsung Pay and Android Pay.
Source: The Next Web
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