Fitbit Inc, the popular wearable devices brand, will soon join the "flick of the wrist payment" band wagon. The makers of the unassuming, but very well-known fitness bands are looking to pack more features into their products. The company has announced that their Fitbit Alta and Fitbit Blaze smartwatches will soon make their way to China.

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The company announced on Wednesday, May 18, 2016, that they have acquired Coin, primarily for its work on wearable forms of payment which mainly use near-field communication (NFC). The deal between the two companies was finalized last May 12, 2016. This means that Coin 2.0 will no longer be made available in the market.

NFC payment technology is already available on several devices such as smartphones/watches and fitness bands. Fitbit Inc.'s competitor Jawbone already has an agreement with credit card company American Express, which lets Jawbone users pay via their UP4 bands. Interestingly, Coin  announced back in January 2016 that they will be partnering with Mastercard to build a similar technology.

Fitbit, however, made it clear that they will not integrate Coin's technology into their product released in 2016. The company is looking to do so in their future gadgets. The Fitbit brand continues to be a strong force in the wearables market, according to a report released by International Data Corporation (IDC). However, Apple continues to be the king of smartwatches with a projected 1.5 million watches shipped.

TagsFitBit, Fitbit Alta, Fitbit Blaze, Coin 2.0