TIME IS MONEY: FiiSmart is raising funds for the ongoing enhancement of its Pay Watch

Shenzhen-based wearable device maker FiiSmart has launched a campaign on ecommerce giant Alibaba’s Taobao Crowdfunding website for a smartwatch that will support Ant Financial’s mobile payment platform Alipay and allow its wearers to make payments by generating a QR-code that can then be scanned at the point-of-sale.

The Fii Pay Watch operates on the new YunOS for Wear operating system and includes support for movie ticket ordering, Taobao order delivery tracking, heart-rate monitoring, step counting, distance tracking, weather information, voice recording, phone location and push notifications for phone calls, messages and emails.

“The watch can be used with all mainland Chinese merchants that support Alipay,” Alibaba told NFC World. “The manufacturer FiiSmart will use the money raised for ongoing enhancement of the product’s quality, functions and services.”

The watch features a 1.63-inch Amoled display, Bluetooth, a built-in 300mAh battery, magnetic charging, dual-core CPU with 4GB of storage, a grade 316L stainless steel body and is compatible with both Android and iOS devices. The leather strap version will retail for RMB899 (US$141), and the ceramic strap version will retail for RMB999 (US$156).