Fitbit, which makes fitness accessories, activity trackers and other wearable devices, just acquired payments hardware firm Coin, signaling its intent to enrich its product lineup with contactless payment features. That’s right, your next Fitbit fitness tracker may let you pay for in-store purchases.
According to Fitbit itself, while there are no plans to integrate Coin’s wearable payments technology into the 2016 Fitbit product roadmap, the acquisition accelerates the company’s ability to “develop an active NFC payment solution that could be embedded into future Fitbit devices, broadening its smart capabilities.”
The acquisition excludes smart payment products, such as Coin 2.0.
First Fitbit devices with NFC capabilities based on Coin’s technology are expected in 2017. Since the start of 2016, Fitbit has launched two new fitness trackers: the $200 Blaze smartwatch-based tracker and the slimmer, more fashionable $130 Alta with swappable bands.