Fitbit may fit payment technology in its devices
FITBIT users could soon settle payments with a flick of the wrist, as the maker of the simple yet hugely popular fitness bands races to pack in more features in its products.
It said on Wednesday it bought wearable payment technology assets from Silicon Valley start-up Coin which makes devices that use near-field communication (NFC).
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.
The company, however, said on Wednesday it had no plans to introduce the technology to its devices this year but may integrate it in future gadgets.