Swatch set to break into China’s mobile commerce market with wearable technology
Swiss watchmaker Swatch has plans to bring its smartwatch to China, where it will support mobile payments. The watch, called Swatch Bellamy, is designed with mobile commerce in mind and will allow consumers to make purchases at various stores in the country. Swatch is currently working with banking groups in China to expand the acceptance of the platform, allowing more consumers to make use of it while shopping at physical locations.
Swatch Bellamy will be supported by Chinese banks that are interested in mobile payments
Swatch Bellamy will be able to be used to pay for products at stores that accept China Unionpay’s point-of-sale systems. These systems already accept payments being made from a wide range of mobile devices, including wearable technology coming from companies like Apple and Samsung. Swatch Bellamy will be sold for approximately $91 and will be available beginning in January of next year. The smartwatch utilizes NFC technology in order to facilitate mobile payments.
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Companies specializing in mobile commerce see some promise in wearable technology
Many companies specializing in technology are beginning to become more active in the mobile commerce field. Wearable technology is beginning to play a larger role in the mobile commerce space, as consumers see wearable devices as a convenient way to pay for products in physical stores. Wearable devices that support mobile payments are still relatively rare, but companies like Swatch are beginning to change this, providing consumers with new options when it comes to mobile shopping.
Swatch will face major competition from both Apple and Samsung when it comes to wearable technology and mobile payments
Swatch will face major competition in the wearable technology market. The company will have to fight against both Apple and Samsung to capture the support of consumers. These two companies have already released their own wearable devices, with Samsung having considerably more experience in this particular market. Swatch has expressed a strong interest in mobile payments and wants to see this sector continue to grow, offering new technology that may make that possible.