News Dec 06, 2015 10:26 PM EST

Swatch collaboration with Visa for its new "pay-by-the-wrist" watch

By Staff Writer

The world's largest watchmaker from Swiss, Swatch has now collaborated with Visa for its new "pay-by-the-wrist" watch. This gadget permits customers in Switzerland, U.S., and Brazil to make contract-free payments with their wrists, the Swatch declared on its website.

The pay-by-wrist features will be installed on the new Swatch Bellamy watch range. The name comes from Edward Bellamy, who was an American author, the first to write about credit or debit cards on their time.

The watch uses a near-field communication (NFC) chip that permits the wearer to make payments at certain card dealer per users. Swatch Bellamy is very different from Apple and other smart watches that utilize the Internet to use their features.

The Bellamy is relied upon to hit stateside retailers early on next year from now. This move comes after Swatch developed the watch in China in October. Despite the fact that the cost hasn't been set for American clients, Chinese shoppers will pay 580 yuan (approx. $91), according to The Wall Street Journal reports.

The cost of this device is less than $349 for Apple's smart watch and also cheaper than LG, Samsung and Motorola. However, comparing the Bellamy with these different smartwatches isn't precisely an apple-to-apple comparison. Swatch's device just offers the payment options, while different models track health, gives a mode of communication and allow music with other features.

Being different from tech companies, which have been building watches around sensors and programming software, watch companies have been more focused in their features. As opposed to outfitting the Bellamy with notifiable vibrations and conceivable fitness-tracking capability, Swatch has concentrated only on payments.

A few days ago, Tag Heuer also developed a smart watch that runs Google's Android Wear software. Fossil Group has bought health-tracking wearable company Misfit, according to CNET.

Swatch didn't offer much else in terms of specification on the Bellamy, other than promising payment transactions use no power, so users can expect the same battery life they get from any other Swatch model. The Apple Watch, for example, is estimated as having up to 18 hours of battery life.

Swatch's one of a few traditional watchmakers working together with organizations outside of their industry to make associated timepieces. Watchmaking for a long time had seen little advancement, yet organizations that have sprung up in 2015 demonstrate the business' greatest names are now grasping change.

The phrase "bel ami" also means "good friend" in French. "The new Bellamy watch will doubtless become a good friend to its wearer," the company said in a press release.

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