GPS device company Garmin joined the growing list of wearable manufacturers launching contactless payment apps for smartwatches, with the announcement of Garmin Pay.

Unveiling its new Vivoactive 3 at IFA2017 in Berlin, the company said the device would include its new Garmin Pay app.

Users who sign-up for the service will be able to add Visa or Mastercard debit and credit cards to the platform, and pay for goods at terminals accepting NFC payments in participating markets.

The move comes days after rival wearables manufacturer Fitbit announced a similar feature in its new Ionic device. NFC-based contactless payments are also available on a range of Apple and Android wearable devices.

Garmin VP of worldwide sales Dan Bartel said: “Anyone who is out and about being active can relate to the struggle of where to stash a credit card or cash, and has had to forgo a post-workout snack or coffee as a result. We’re solving that dilemma with Garmin Pay, an exciting feature on the new Vivoactive 3.”

According to figures from IDC, Garmin is the fifth largest wearables manufacturer by units shipped with a 4.6 per cent worldwide market share during Q1 2017, behind Xiaomi, Apple, Fitbit and Samsung.