IndusInd Bank launches India’s first all-in-one payment wearable
IndusInd Bank has announced the launch of its contactless payment wearables ‘Indus PayWear’. The bank said this is India’s first all-in-one tokenable wearable for both debit and credit cards on MasterCard, which will soon be extended to other card networks. ‘Indus Paywire’ will facilitate fast and secure tap-and-pay transactions at any contactless point-of-sale (PoS) terminal across the world.
The bank says that the Indus PayWear mobile app will allow the customer to switch between cards, making it an all-in-one wearable. Apart from this, the app will provide transaction monitoring and management/blocking of wearable devices for enhanced security. Additionally, Indus Paywire will offer transaction debit or credit card rewards and security.
what is the price
The bank says that the three versatile wearables i.e. Ring, Watch Clasp and Sticker cater to different preferences of customers, with prices ranging from ₹499 to ₹2999. The bank says, however, transactions of less than ₹5000 will be done as tap-and-pay using the wearable.
As per RBI guidelines, transactions above ₹5,000 will require additional security of the PIN of the linked card to be entered at the PoS machine.
