Wearing a Titan on your wrist was always a cool fashion statement. Now that stylish watch will become a medium for contactless payments as well, literally with just a flick of the wrist.
Here comes, for the first time in India, a range of Titan’s contactless payment watches with an embedded chip in association with another titan, SBI, to enable registered users of its mobile banking app, Yono, to exclusively avail this facility.
The facility, till now available on smart watches in select countries worldwide, can now be availed by a huge community of registered users of Yono, currently 26 million strong and growing at a fast clip. This exclusive collection of watches, in three styles for men and two for women, from the 5th largest watch brand in the world, is attractively priced between INR 2995 and INR 5995.
With this launch, registered Yono users can tap their Titan Pay watch on contactless payment POS machine without the need for swiping or inserting their SBI bank card. Payments under INR 2000 can be made without entering a PIN, beyond which PIN will be required. A secure certified Near-Field Communication (NFC) chip embedded in the watch strap by Tappy Technologies enables all the functionalities of a standard contactless SBI debit card.
The payment feature on these watches will be accessible on over 2 million contactless MasterCard-enabled Point-of-Sale (POS) machines in the country.
The collection of tap-and-pay watches is exclusively available on www.titan.co.in and comes with an offer of free shipping anywhere in India. The watches have 11.2 mm thick metal case with option of black and tan coloured strap and come with 24 months warranty on the movement and 12 months warranty on the battery.
Lauding the timing of the launch, SBI Chairman Rajnish Kumar told media persons during a virtual media conference, said, “The time is right for contactless (payments). We believe that this innovative offering will redefine the shopping experience for our customers with tap and pay technology. The opportunities are endless because we have seen an explosion in digital transactions in recent times.”
Speaking on the occasion, Titan Company Limited Managing Director CK Venkataraman said, “Titan has always been at the pinnacle of design and innovation. We have always launched products to cater to the changing needs of our consumers. SBI is the perfect partner to introduce a payment solution for the new normal that is fast, secure and seamless. This product will not only satisfy the consumer’s banking needs but will also serve today’s evolving consumers with its classic and sophisticated designs.”
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