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Smartwatch Would Enable Mobile Payments

Swatch is coming up with its own smartwatch that would enable mobile payments within the next two to three months . The new smartwatch would be part of Swatch’s line of “New Gent” watches and would cost around $80 or more. The new smartwatch would be equipped with NFC technology. With the starting price of the Apple Watch being $349, Swatch could indeed provide a cost-effective alternative. Earlier this year, Swatch also launched a new line of NFC watches under the tag “Swatch Touch.” We had already talked about Swatch partnering with China UnionPay, a Swiss bank and a major credit card processor. Swiss watchmakers are facing heat from technology companies that are poised to change the customers’ mindset of what a watch is all about. Apple Watch was recently launched with huge fanfare and analysts are already predicting massive pre-orders of Apple’s smartwatch.

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