Fitbit Buys Wearable Payment Assets of Coin for Inclusion in Future Products
Fitbit acquired the wearable payment assets of CE and financial tech company Coin, boosting its ability to develop an “active NFC [near-field communication] payment solution that could be embedded into future Fitbit devices,” and broadening its smart capabilities, the company…
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said Wednesday. The inclusion of Coin’s payment technology into Fitbit products “will further our strategy of making Fitbit products an indispensable part of people's lives,” Fitbit CEO James Park said, but the company has no plans to integrate the payments technology into the 2016 product roadmap. Terms of the deal, completed May 12, weren’t disclosed. The acquisition excludes smart payment products, such as Coin 2.0, Fitbit said.