Swatch Teams Up with Visa to Take on Apple Pay

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Swatch is teaming up with Visa (V) to introduce a rival to Apple (AAPL) Pay next year.

swatch-visa-apple-aapl-vSwatch will release a new watch next year that will introduce the ability to make contactless payments for Visa cardholders. The new wearable will be called Swatch Bellamy and it’s currently set to be released in early 2016.

Swatch and Visa are planning to launch the new watch in the U.S., Switzerland, and Brazil. It’s also working with Visa Europe on the project. The company notes that the new Bellamy watch won’t suffer additional battery drain due to the NFC technology.

Swatch said that its new service will work anywhere that Visa cards are accepted and are equipped with NFC terminals. It also noted that it named the new wearable after Edward Bellamy, who wrote about the concept of credit and debit cards before anyone else back in 1888.

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