Germany’s Giesecke & Devrient revealed it is the provider of the embedded smart card chip and OS behind Swatch’s new NFC-based, pay-by-the-wrist watch.
Swatch announced the Bellamy watch last month and plans to launch it in China in January 2016.
The smart card chip by G&D in the watch is fully compliant with the security specifications for wearable products issued by China UnionPay and allows worldwide contactless payments at all the card payment processor’s five million terminals equipped with NFC.
The chip also features a debit card function linked to an account in the Bank of Communications, that can be used for cash withdrawal and for topping up e-cash amounts.
China Unionpay and state-owned Bank of Communications are Swatch’s local payments partners for the launch in China.
The payment function on the watch does not consume any battery power, thus preserving the performance of the Swatch Bellamy, added G&D.