Fitbit has come a long way from just offering basic fitness bands that track physical activity. With each new offering, the company has managed to inch that much closer to producing a competing alternative solution to a smartwatch. Today, Fitbit has announced their acquisition of Coin's wearable payments assets, which should allow them to take their next generation of products to a new level.
With Fitbit's newly acquired assets, the company will be able to expedite integrating an NFC payment system into their future products. Although Fitbit has explicitly stated that they do not have any plans to integrate the acquired technology into any products for 2016, it's safe to say that we will most likely see this in the very near future.
Mobile payments have become a big part of wearables and connected devices, Fitbit's decision to acquire Coin will surely give it a leg up on its competitors.