Titan in association with India’s biggest public-sector moneylender, State Bank of India introduced Titan Pay. Titan Pay is a watch that permits contactless monetary transactions. With these Titan Pay watches, SBI account holders just have to tap their Titan Pay watch on contactless payment POS machine and the payment will be done without them having to swipe or insert their card. Transactions of up to Rs 2000 can be done without requiring to enter a PIN. Only enrolled SBI Yono clients will have the option to make use of this facility.
A certified Near-Field Communication (NFC) inserted a chip in the watch strap by Tappy Technologies will empower all the services of a standard contactless SBI debit card.
The payment feature on the watches will be available on more than 2 million contactless MasterCard-permitted POS machines in the nation.
This unique collection of watches are going to come in three styles for men and two for ladies and are valued between Rs 2,995 and Rs 5,995 to make sure that it’s widely available to SBI and Titan customers.
In times like these with the corona virus present, it is essential to come out with purchasing solutions like this where we can do contactless payments. Though there are already contactless payment option available in the market such as mobile phone payment applications like GooglePay and Paytm.