SBI account holders can make contactless payments on the POS machine by tapping on titan pay watch without swiping or entering their SBI bank card. Up to Rs 2,000 can be paid without entering a PIN.
Titan Company Limited has partnered with the country’s largest lenders State Bank of India (SBI) to launch a contactless payment watch to promote more digital transactions and secure payment systems in the country amid the Corona virus epidemic. Titan is the fifth largest watch brand in the world. Through this partnership, Titan and SBI are launching a series of stylish new watches with the first ever contactless payment watch function in India.
SBI account holders can make contactless payments on the POS machine by tapping on titan pay watch without swiping or entering their SBI bank card. Up to Rs 2,000 can be paid without entering a PIN. Tappy Technologies is able to do all the same as a secure certified near-field communication (NFC) chip contactless SBI debit cart embedded in the watch strap.
The clock is so priced
The payment facility on these watches will be available on more than 2 million contactless MasterCard enabled point-of-sale (POS) machines in the country. This exclusive collection of exclusive watches is designed in 3 styles for men and 2 for women. It is priced between Rs 2,995 and Rs 5,995. It will be readily available to all SBI and Titan customers.
On this agreement, SBI Chairman Rajnish Kumar said, “We are happy to be part of the launch of this unique proposal in the contactless payment space by Titan. It gives me great pleasure to join hands with the world’s 5th largest watch maker, which provides a smart and innovative shopping solution for our YONO customers with Titan Payment Watch. We believe this innovative offering will redefine the shopping experience for our customers with tap and pay technology. With the latest technological advancements, State Bank of India is always striving towards providing innovate best-in-class banking services for its customers.
Speaking on the occasion, C K Venkataraman, managing director, Titan Company Limited, said, “Titan has always been at the pinnacle of design and innovation. We’ve always launched products to meet the changing needs of our consumers. SBI is the perfect partner to offer a payment solution that is fast, secure and seamless. This product will not only cater to the banking needs of the consumer, but will also serve today’s developed consumers with their classic and special designs.