Thomson Reuters
File photo of Swatch watches on display in front of a shop at the central station in Zurich
The Swiss watchmaker and Visa are launching a projet that lets Visa cardholders in the United States, Switzerland and Brazil make payments with Swatch's new "pay-by-the-wrist" Swatch Bellamy watch.
Set to launch in early 2016, Swatch Bellamy can be used around the world wherever contactless near-field communications (NFC) Visa payments are accepted, the partners said in a joint statement.
An NFC chip will be placed inside the watch, which can then be used to pay in shops - just like contactless cards or smartphone payment methods like Apple Pay.
Swatch says that the inclusion of the NFC chip won't affect battery life, as making transactions doesn't take any energy: "Customers can expect the usual battery life of a Swatch."
There's no word on pricing of the Bellamy in the US. It was first announced for China in October, and costs 580 yuan ($91) there, which may give some indication. Likewise, there isn't a firm launch date yet - Swatch is only saying "early 2016."