Corner Bank to support European launch of Swatch pay-by-wristwatch
12 May 2016 | 8084 views | 0
Swatch has secured the backing of Visa Europe and Switzerland's Corner Bank for the launch of its new NFC-enabled timepiece Bellamy, which will come to market in mid-June with a price tag of CHF105.
After purchasing one of the first three models at any Swatch store, clients can sign up with Corner Bank, pre-load the watch with funds, and start shopping in Switzerland and around the world wherever Visa contactless is accepted.
The Swatch smart watch is named after 19th century American writer Edward Bellamy, who envisioned a utopian future in which cash had been replaced by payment cards.
The Swiss watchmaker has already secured a deal with China UnionPay to launch the timepiece in China.
The firm says that the NFC chip hidden under the dial uses zero energy when making a transaction so that users can expect the usual battery life of a regular Swatch. The firm expects the feature - and the standard design - to be a differentiator as it takes on smartwatches launched by interlopers such as Apple and Samsung.