Nick Hayek, chief executive officer of Swatch, has given his opinion on the Apple Watch, stating that the technology is ‘not a revolution’, as Swatch prepares to release its first NFC-enabled wearable device.
In an interview with Swiss newspaper Tages-Anzeiger, Hayek discusses a number of topics, including the future of contactless payments and its relationship with wearable technology.
Commenting on the Apple Watch, Hayek has played down its importance within the payments industry.
‘‘The Apple Watch is an interesting toy, but not a revolution,’’ stated Hayek, when asked about the growing trend of smartwatches.
Before now, Swatch has been resistant to the idea of making smartwatches, instead concentrating on making waterproof watches with a much longer battery life, with Hayek complaining to Tages-Anzeiger that smartwatches cannot go 24 hours without having to be charged.
In May, Payment Eye reported that Swatch intended to release its own smartwatch, which would be released in Switzerland and one other major country, most likely the United States.
We now know that the next watch to be released by the Swiss firm is the Touch Zero Two, a smart watch that has been specifically designed for the Rio 2016 Olympic Games.
Hayek has confirmed that the watch will be enabled with Near-Field Communication (NFC) technology, allowing people to pay for items without the use of a credit card or cash.
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