Fitbit Inc, the fitness band and smartwatch maker, has extended its product portfolio to wearable payment.
The company is now in discussion with local banks to make availability wearable payment in Thailand this year.
"Thailand is now the second-largest market for Fitbit in Southeast Asia following Singapore, but it may surpass Singapore in the next few years," said Louis Lye, Fitbit's country manager for Southeast Asia.
Thailand has strong retail experience and growing demand for fitness tracking devices as more people become health-conscious.
Fitbit has broadened its portfolio to smartwatches with the Versa, a lightweight smartwatch featuring four-day battery life.
The watch also features an app for women to track their menstrual period and symptoms. The product will be available next month.
Meanwhile, the company plans to introduce Fitbit Ace in June, for the first time enabling parents to track their children's activities.
Mr Lye said contactless payment is a "killer app" service that Fitbit can leverage to broaden demand for the company's smartwatches.
The Fitbit Pay feature is already supported by more than 60 banks and card issuers in 15 countries.
"Four banks in Singapore already support Fitbit Pay, and we are in discussions with local banks in Thailand and Malaysia," Mr Lye said.
Contactless payment will allow Thai users who travel abroad to use the device, particularly in Australia and Singapore.
Apart from payment, the company is looking at music -- the Deezer service lets users listen to 300 songs on their smartwatch -- as well as digital health, collaborating with hospitals in Thailand to provide a health coaching service to patients such as diabetes sufferers.
In addition, Fitbit works with insurance companies like AIA to provide privileges and services to Fitbit users.
The company will encourage developers to develop Fitbit apps in Thai language by providing a free software development portfolio.
Fitbit has opened its official shop at Lazada to sell Fitbit accessories and support users.
Paramate Rienjaroensuk, president of Copperwired, a lifestyle gadget retailer, said the smartwatch market continues to grow in Thailand.
Popular new features for the watches include heart rate tracking and sleep tracking.
