Four new NFC smart watches that make use of China UnionPay’s cloud-based payments service have been unveiled in Shanghai by Swatch Group CEO Nick Hayek.
“Only an in-store app download and scan is required to instantly activate the watch,” Swatch says. “The tokenization process takes just a few minutes, and customers can start paying with the watch.”
Eleven “leading Chinese banks” have signed up to participate in the new Swatch Pay service, the watch maker adds.
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