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Swatch launched Apple Pay competitor

Swiss company Swatch together with Visa and Visa Europe announced the launch of NFC payments using “smart” hours pay-by-the-wrist. The service aims to compete with Apple Pay in the market of electronic payments.

The company signed an agreement under which Visa cardholders will be able pay for purchases using a special series of watches – Swatch Bellamy. The project was launched in the USA, Switzerland and Brazil. In early 2016, according to a joint statement of the companies, the payments with the help of Swatch watches will be available worldwide, wherever Visa cards are.

“Smart watches” Swatch can be used for payments anywhere. Payments via Visa will be made by NFC technology, which makes it possible to use hours that supports access to the Internet, making cash for contactless payments.

The Swiss Swatch Group AG – the world’s largest watchmaker. The company was founded in 1983, headquartered in the city of Biel, in Switzerland.

In October of this year, us Bank JPMorgan Chase has announced the launch of its own payment system to rival Apple Pay. With its help the management of the group intends to capitalize on those consumers who use smartphones for simple financial transactions and make purchases. For this purpose, the Bank has teamed up with several major retailers whose annual earnings is roughly $1 trillion.

Apple’s payment system was launched a year ago. According to analysts, at the end of September on Apple Pay were signed on 14% of American households. In September last year, JPMorgan Chase announced a partnership with Apple, and this year estimated the number of users conducting transactions through his accounts in 1 million people who, in General, younger and richer than the typical Bank card holder.

In late October his intention to enter the mobile payments market has announced the company MasterCard. In September in the US also earned the mobile payment system from Google Android Pay and Samsung Pay.

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