Boat Smartwatch to Support Digital Payment with tap and pay feature

Now users are going to get the tap and pay feature in the smartwatches of Boat, a well-known company in the wearable industry. Boat smartwatch users will now be able to use the tap and pay function at point-of-sale terminals. Bot is partnering with Mastercard to launch this service. It was announced on August 30 at the Global Fintech Fest 2024. Let us know about it in detail.

The upcoming feature will be accessed through Boat’s official application and secured by MasterCard’s tokenization capabilities. Bot said in a press release that its payment supported smartwatch can be used to conduct transactions through tap and pay at POS terminals. It has been said in the release that for transactions up to Rs 5,000, users will not have to enter any PIN. Security will be achieved through the use of cryptograms that power MasterCard’s device tokenization technology.

Sameer Mehta, co-founder and CEO of Bot, says, “Our partnership with Mastercard will help us grow users who are increasingly eager to adopt new methods of contactless payments.” The company has announced that the tap-and-pay feature will be offered to MasterCard card users of several banks in India. There are plans to extend it to additional banks in the coming time.

Apart from Boat, Airtel Payments Bank in partnership with Noise and NPCI has launched a smartwatch with support for National Common Mobility Card (NCMC) technology. The Airtel Payments Bank Smartwatch is equipped with an integrated RuPay chip that makes transactions easy from the wrist of users. It has been launched as a payment cum fitness device, which includes health and fitness monitor features. The Airtel Payments Bank smartwatch is equipped with an embedded RuPay chip in the dial for direct, on-the-go payments. It also offers NCMC integration, which supports for tap and pay transactions. With this integration, the smartwatch supports payments at merchant locations and across metros, buses, parking facilities and other locations in India. Users can turn on/off contactless payments from the smartwatch. Users can also make payments on contactless terminals without entering their PIN with a limit of Rs 5,000. It will be necessary to enter PIN code for payment exceeding the prescribed limit.