Boat smartwatch users are going to get the feature of tap and pay soon. That is, they will be able to make payments through their smartwatch. The company has announced this at the Global Fintech Fest 2024. Boat has partnered with Mastercard for this service. This feature can be accessed through Boat’s official app.
It is secured with MasterCard’s tokenization capability. The company says that Boat’s smartwatch can be used for payments through tap and pay at POS.
How much can I pay?
You will not be able to make large payments using this feature. You will be able to make transactions up to Rs 5000 without any PIN. The security will be the responsibility of cryptograms, which come with MasterCard’s device tokenization capability.
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At the launch event, Bot’s co-founder and CEO, Sameer Mehta said, ‘Our partnership with MasterCard will benefit the large consumer base, who are constantly looking to adopt new modes of contactless payments.’ However, for this you must have a MasterCard.
The smartwatch segment is growing rapidly
MasterCard holders of major banks of India will get this facility. The company will expand it in the coming time. Boat has taken this step at a time when the Indian wearable market has seen a growth of 34 percent. Smartwatch shipments have registered a growth of 73.7 percent in the year 2023.
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Not only Boat, Noise is also bringing payment feature in its smartwatch. Both these brands are very popular in the Indian budget wearable market. Noise has launched a smartwatch with National Common Mobility Card technology. It has an integrated RuPay chip, with the help of which users will be able to use the tap and pay feature.
Source (PTI) (NDTV) (HINDUSTANTIMES)