(Pocket-lint) - Swatch has followed up on news of its first smartwatch, the Touch Zero One - a device designed for beach volleyball players - with an announcement that it plans to introduce new, smarter technology to its entire incoming line-up of watches.

However, rather than including full smartphone compatibility, the new watches will have NFC capabilities in order to work as contactless payment devices in stores.

Swatch has signed deals with three bank card associations to tie-in with the NFC addition and all wearable devices coming from the manufacturer soon and in the further future will eventually feature the technology. That includes is entry-level plastic watches up to its premium and highly collectable Omega brand.

READ: Swatch enters smartwatch market, but not how you would have thought

Speaking at the company's annual media day ahead of Baselworld in Switzerland, Swatch CEO Nick Hayek praised the Apple Watch as the nicest smartwatch available to date, but revealed his company is not looking to compete.

"We are not a consumer technology company," he said. "We don't want to produce a reduced, minimised mobile phone on your wrist."

The financial firms Swatch has partnered with so far includes China UnionPay. The Swiss bank and credit card company also partnered with currently remains anonymous.

Writing by Rik Henderson.