Titan with SBI Launches Contactless Payment Services Through Watch

Titan with SBI Launches Contactless Payment Services Through Watch

By: Ashwathy Nair 

• Through ‘Titan Pay’ watches – Make payments fast, hassle-free, and contactless.
• SBI holders can simply tap their watch on contactless POS machines.
• A watch embedded with certified Near-Field Communication (NFC) chip in the strap.

The world has shifted to a new normal. Every day, innovations and safer solutions are coming forth, which will help in adapting to the novel transitions.

Titan is the fifth largest watch brand in the world and to cope-up with the new normal, it has partnered itself with the country’s largest lender, State Bank of India (SBI) to introduce ‘Titan Pay’ powered by ‘YONO SBI’. This partnership between Titan and SBI, together, has launched India’s first contactless payment functionality with a range of stylish new watches called ‘Titan Pay’. With this, the SBI account holders can simply tap their Titan Pay watch on contactless MasterCard-authorized POS machines;therefore, curtailing the use of transaction cards.

Without entering a pin, payments up to an amount of Rs 2,000 can be done.

“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,” a press release by Titan added.(Source:Firtspost.com)

Furthermore,C K Venkataraman, Managing Director, Titan Company Ltd speaks on the occasion,“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”.

“We are glad to be a part of the launch of this unique proposition in the contactless payments space by Titan. It gives me immense pleasure to join hands with one of the world’s 5th largest watch manufacturer, to provide a smart and innovative shopping solution for our YONO customers with Titan Payment Watches. We believe this innovative offering will redefine the shopping experience for our customers with Tap & Pay technology. With the latest technological advancements, State Bank of India has always been striving towards providing innovative, best-in-class banking services for our customers,” said Rajnish Kumar, Chairman, SBI, while sharing his thoughts on the association. (Source: indiaincgroup.com)