Swatch is pairing up with Visa for its latest watch, the Swatch Bellamy, which allows users to make payments with just a swipe of the wrist.

The watch features a Near-Field Communications (NFC) chip that uses high-frequency radio waves to communicate with Visa's contactless payment terminals. The chip is located beneath the watch dial and swiping initiates a transaction.

"Pay-by-the-wrist transactions require absolutely no energy at all from the watch itself, meaning customers can expect the usual battery life of a Swatch," a company spokesman said, according to PC Magazine.

The name Bellamy is derived from the American writer Edward Bellamy, who wrote a novel, "Looking Backward 2000-1887," that predicted future forms of transactions. "Bel ami" also translates to "good friend" in French.

Priced at around $100, the watch will be roll out on a limited basis in several countries for its initial stage but it's expected this list will grow. For now, only cardholders in the U.S., Brazil and Switzerland will get the chance to experience the technology upon its release, early in 2016, according to Tech Radar.