Hayek said he does not want a multi-purpose computer for the wrist or to depend on outside companies for help. The users are more likely to see simple, focused devices that just happen to do more than tell the time.

Hayek told the paper Swatch would launch Touch Zero Two at next year's Olympic Games in Rio de Janeiro.

The world's largest watchmaker had unveiled its riposte to Apple Inc's  smartwatch, announcing a plan to put cheap programmable chips in watches that will let wearers from China to Chicago make payments with a swipe of the wrist.

The Swiss company's strategy appears to revolve around including individual tech features in different models rather than going head to head with Apple, the world's most valuable firm, to create all-in-one smartwatches combining many functions.
               
For its near-field chips, which will cost around 2 francs ($2) per watch, Swatch has teamed up with China UnionPay, the Chinese credit card association, as well as a Swiss bank and a major credit card company.
               
The credit card company, described as an Olympics sponsor, is likely to be Visa, a long-time backer of the event. Visa was not immediately available to comment.