Jawbone has announced a new fitness tracker just days after the official launch of the UP3 in most countries, following a long delay due to the fitness tracker's functionality.

The UP4, an upgraded version of the UP3, features the same fitness and health sensors alongside a contactless payment sensor allowing American Express cardholders to make payments via the wrist.

Like Us on Facebook

Currently the Apple Watch is the only smartwatch that allows contactless payment, but Jawbone has added the UP4 to the list. It features an NFC chip inside the fitness band, making it the most affordable way to pay through contactless with an electronic device.

All of the features on the UP3 are available on the UP4. It features the exact same desig but will cost $20 extra for the additional NFC chip, making the total cost $199.

It's not exactly outstanding innovation from Jawbone but it does offer a certain niche feature for customers that want to purchase things using a smart band. It's a lot cheaper than Apple's $350 Watch Sport or the $650 Watch. This means if customers desperately want to pay through contactless smart band -- and own an American Express card -- this is the easiest way to do it.

Jawbone claims it has added enterprise level encryption and security to the smart band that allows transactions to be safe, simple and secure. We'll have to see for ourselves whether the encryption is really top grade, something that various manufacturers have promoted without really detailing how the transaction is secure.

Having American Express as the sole supporter will make it a hard sell since it doesn't feature an alternative method like Apple Pay or PayPal. These easier to set-up solutions would make more sense on a consumer smart band whereas having a credit card might remove a large customer demographic that only own debit cards.

Jawbone will launch the UP4 later this year but don't be surprised if it takes a while to launch. The company doesn't have the best reputation for sticking to launch dates and making sure the product is available on release day.

TagsJawbone, Jawbone UP4, heart-rate sensor