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In a recent development, Fitbit said it has bought wearable payment technology assets from Silicon Valley-based startup Coin, as it looks to allow users to make payments through its popular line of wearable fitness devices.
It is to be mentioned that Coin makes devices that use near-field communication (NFC)chips. NFC allows users to pay for purchases through their wearable devices or smartphones.
The technology allows two devices placed in close proximity to exchange data with each other. A device with an NFC chip, such as a smartphone , communicates with similar chips located in terminals or at retailers, allowing users to make purchases through their devices.
Fitbit said that the company had no plans to introduce the technology to its devices this year, but may integrate it in future gadgets.
NFC has featured prominently in some smartphones, and popular services such asApple Pay , Samsung Pay and Google Wallet — helping the technology gain traction among retailers