China’s ecommerce giant Alibaba this week unveiled Pay Watch, a payments-focused smartwatch that it plans to crowdfund on its online shopping websiteTaobao (think eBay or Amazon) starting October 15. Update: Alibaba wished to clarify to VentureBeat that this smartwatch is produced in partnership with FiiSmart, and “not developed by Alibaba Group” per se. (Get the full update at the end of this article.) Prices will range up to about $160 for the YunOS-powered device that supports mobile payments through Alibaba’s Alipay platform. The main way it’s expected to handle this is by generating on-demand QR codes that retailers can scan at checkout.