Swatch Bellamy: These are the new pay-by-the-wrist Swatch watches using NFC (Near Field Communication) technology

SWATCH BELLAMY: THE NEW PAY-BY-THE-WRIST SWATCH WATCH

Swatch has joined forces with China UnionPay and Bank of Communications to introduce contactless payment “by-the-wrist” to China. Discover the four new Swatch Bellamy by clicking on “read more” …

 

These are the first four watches combine exciting, colorful Swatch design with built-in NFC (Near Field Communication) technology. NFC technology uses high-frequency radio waves to enable electronic devices to communicate over short distances. The new Swatch Bellamy watches have all the fun, color and great design that Swatch is famous for – along with a built-in NFC chip hidden under the dial.

 

Nick Hayek showing how the NFC technology works ...
Nick Hayek showing how the NFC technology works …

 

Like a prepaid bankcard, a Swatch Bellamy watch allows customers to pay for items using merchants’ contactless POS terminals. Pay-by-the wrist transactions require absolutely no energy at all from the watch, since the energy is emitted by the POS terminal.

In China Swatch has partnered with UnionPay, China’s bankcard association, to activate the innovative and easy-to-use system, and with Bank of Communications, where customers will be able to purchase the new watches.

 

The Swatch Bellamy presentation at the Swatch Art Peace Hotel
The Swatch Bellamy presentation at the Swatch Art Peace Hotel

 

The new payment option with Swatch Bellamy will be rolled out by the partners across China in the coming months, starting in January 2016.

Swatch Bellamy will soon be also launched in Switzerland with a Swiss bank and secure transaction partner, as well as in the USA.

Very, very interesting development!

Could the beginning of the end of the classical credit cards and it will be interesting to see how will be stronger in the end: The NFC technology and Swatch or Apple-Pay

Don´t forget if the technology is successful and more and more partners team up, the Swatch Group could implement an NFC chip also in e. g. an Omega or even a Breguet or Blancpain. All you need then is your watch to pay your bills …

This development is HOT!

 

SWATCH BELLAMY: THE NEW PAY-BY-THE-WRIST SWATCH WATCH
SWATCH BELLAMY: THE NEW PAY-BY-THE-WRIST SWATCH WATCH

 

SWATCH BELLAMY: THE NEW PAY-BY-THE-WRIST SWATCH WATCH
SWATCH BELLAMY: THE NEW PAY-BY-THE-WRIST SWATCH WATCH

 

 

Some information about the first partners of Swatch:

 

About UnionPay

UnionPay establishes and operates an inter-bank transaction settlement system. Based on the worldwide bankcard network, UnionPay develops creative payment services and promote the development and application of bankcard, it provides quality, safe and efficient bank card service for the public. Presently, UnionPay has issued nearly 5 billion bankcards globally, UnionPay acceptance network accelerated extension to small and medium- sized cities and the broad rural regions, and has been extended to 150 countries and regions in Asia, Europe, America, Oceania and Africa. UnionPay owns around 30 million special merchants in worldwide and has over 1.8 million ATMs. UnionPay actively collaborates with various industries parties and transaction organizations. For further information, please contact: www.unionpay.com

About Bank of Communications

Founded in 1908, Bank of Communications is amongst the top 5 leading commercial banks in China. Strategically, BOCOM aims at developing itself into a first-class public bank group focused on wealth management services by means of international expansion and universal banking platform build-up. The Bank is one of the major financial services providers in China. The Bank’s business scope comprises commercial banking, securities services, trust services, financial leasing, fund management, insurance, offshore financial services and so on. The Bank has 30 provincial branches all over China, altogether 2,785 outlets in 230 cities and 165 counties nationwide. In addition, the Bank has set up 15 overseas institutions, has also established correspondent relations with over 1658 banks in 142 countries or regions. 2015, the bank made into the list of FORTUNE 500 for seven consecutive years. In terms of operating income, the Group ranked No. 190. In addition, the Group ranked No. 17 among the global top 1000 banks in terms of Tier-1 Capital by The Banker magazine.

 

Who will line up here soon?

In Switzerland UBS, in the USA Bank of America and/or UnionPay?

 

 

 

 

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6 Comments

  • It is always funny to read reactions on Appleinsider. The devoted fans can’t really see anything else than Apple Watch and everything that might be threatening the world dominance of Apple is ugly, doomed to fail, stupid etc. etc. It seems like some sort of sect, but the fact that it draws that much attention is the best prove that they are in fear. Let’s see what Jean Claude will present us in early November…

    • I strongly believe Mr Biver and Mr Hayek Captains of the Swiss watch army will win the war against Apple, they won the war against Japan and have plenty of experience in their hands. In November all attention will be on Mr Biver, likely will come with a watch that will bring sale of the Apple sale to a total hold.

  • Really interesting stuff. Keep us in the loop. I’m not a “smart-watch” guy, but this seems useful.

  • It looks like Mr Hayek has come up with a very smart idea how to bring high demand for Apple watches to a total hold.

    • Now a new world have open with the possibility with America express card Inside your watch. I believe with small modifications it can be fitted into any existing watches out there, Mr Hayek can now make a legal money printing machine without risk to be arrested.

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