FRANCHISE HERALD
Tuesday November 12, 2019

updated - November 12, 2019 Tuesday EST

Swatch Partners with Visa, Allows Visa Cardholders to Pay with Swatch's New Pay-By-The-Wrist Watch

Dec 01, 2015 12:29 AM EST | By Jean-Claude Arnobit
Tags
Swatch Group, visa, partnership
Close
Swatch Partners with Visa, Allows Visa Cardholders to Pay with Swatch's New Pay-By-The-Wrist Watch
(Photo : Spencer Platt | Getty Images News)

The Swatch Group Ltd. has announced in a press release that Swatch SA has signed an agreement with Visa, Inc. and Visa Europe about a partnership.

The partnership will allow Visa cardholders in the U.S., Switzerland and Brazil the ability to tap and pay with Swatch's new "pay-by-the-wrist" watch called Swatch Bellamy.

Swatch said in the press release that Swatch Bellamy combines state-of-the-art payment technology from Visa with the Swiss watchmaker's exciting, yet functional Swatch design.

The new watch is designed to open an era of connected commerce, as mobile payment service continues to increase worldwide.

Swatch adds in the press release that they named the new watch Swatch Bellamy as a tribute to Edward Bellamy, an American writer who envisioned a world that has replaced cash with credit or debit cards in his 1888 novel.

The word "bel ami" also means good friend in French, which also indicates that the Swatch Bellamy will become a good friend to its wearer.

MarketWatch adds that the new watch is a significant step for Swatch as it tries to break into the growing market for smartwatches.

The new Swatch Bellamy will be the watchmaker's answer to the Internet-enabled devices that Apple Inc. and others offers.

MarketWatch adds that Smartwatch Group said the worldwide sales of smartwatches are expected to grow from seven million units in 2014 to 650 million by 2020.

The smartwatch space, though, is already dominated by Apple, Samsung Electronics Co. and others.

MarketWatch adds that Smartwatch Group said many of the expected sales of the smartwatches will come at the expense of traditional watches.

Sales are forecast to fall by around $2 billion the year and $7 billion in 2016.

Swatch said in the press release that Swatch Bellamy is slated to be available in early 2016 in the U.S., Switzerland and Brazil.

The new watch uses near field communication technology that allows devices to exchange data and enable cashless payment.

Swatch adds in the press release that it first presented Swatch Bellamy in China in October 2015.

Get the Most Popular Franchiseherald Stories in a Weekly Newsletter
© 2015 Franchise Herald. All rights reserved.

Connect With Franchise News

Email Newsletter

TOP 10 FRANCHISES OF 2019

  • RANK
    FRANCHISE NAME
    STARUP COSTS
  • 1nc
    Hampton Hotels
    $3.7M - 13.52M
  • 2nc
    Subway
    $85.2K - 260.35K
  • 3up
    Jiffy Lube Int'l. Inc.
    $196.5K - 304K
  • 4down
    7-Eleven Inc.
    $30.8K - 1.64M
  • 5up
    Supercuts
    $103.55K - 196.5K
  • 6up
    Anytime Fitness
    $56.3K - 353.9K
  • 7down
    Servpro
    $133.05K - 181.45K
  • 8down
    Denny's Inc.
    $1.18M - 2.4M
  • 9down
    McDonald's
    $1M - 2.16M
  • 10down
    Pizza Hut Inc.
    $295K - 2.15M
Real Time Analytics