Jawbone's new fitness tracker lets you make payments from your wrist and is cheaper than the Apple Watch

Jawbone will be launching a new fitness tracker this summer that you can also use to make payments, the company just announced.

The $200 band, which will be called the UP4, comes with the same fitness sensors as the recently released UP3, but also includes NFC support so that you can tap-to-pay at retailers that support the technology.

It works with American Express, and uses a tokenization technology similar to that of the Apple Watch.

This means that the card number stored on your phone in the Jawbone app is different than your actual card number, so that Jawbone never actually sees your credit card information.

The UP4 looks and feels a lot like the UP3 - it has the same slim design as the UP3, which is noticeable thinner than the likes of Fitbit's new Charge HR and other competitors.

It's an odd combination: most fitness trackers include features that are either focused around health or forwarding notifications from your smartphone. Jawbone, however, has never seemed to care about putting smartphone features to your wrist - its wristbands don't even tell you the time, let alone show incoming calls or how many calories you've burned.

But mobile payments seemed like a necessity, according to the company, which says the decision was about creating an "ease of mind" for its user base.

The idea is that you wouldn't have to take your phone with you while you run if you wanted to duck into a store to buy a bottle of water. Or, if you usually wear your fitness tracker all day, you could tap the band to pay for your cab ride or anything else without having to dig into your pocket or purse. It's a lot like the way Apple Pay works in the Apple Watch, which starts at $350 for the basic Sport model.

Like the UP3, the UP4 comes with your standard array of fitness sensors such as an accelerometer for tracking your movement and steps and a heart rate monitor. Both bands, however, also come with sensors that can measure respiration, Galvanic Skin Response, skin temperature, and ambient temperature.

At the same time, Jawbone is launching another cheap fitness band called the UP2, which will cost $199. It's almost exactly like the UP24 - the sensors inside that power the band are the same, but Jawbone has fit them into a smaller housing that's just a tad smaller than the UP3. It's available starting April 19.