SBI Customers Can Pay By Tapping This Titan Watch; No Card, Wallet, OTP Needed!
With digital transactions and payments being the new flavor of the country, the world’s 5th largest watch manufacturer, Titan has now joined hands with the country’s biggest lender, the State Bank of India (SBI), to launch contactless payment watches.
The coronavirus pandemic has transformed the purchasing pattern for major markets, like India.
Let’s learn more about this new range of watches released by Titan, in collaboration with SBI.
For the 1st time in India, customers can now purchase stylish new watches, which come latched on with contactless payment functionality.
Titan and SBI are together launching a whole new range of watches, under the Titan Pay line.
SBI account holders can now purchase these Titan Pay watches by just tapping the watch on the contactless payment Point-of-Sale (POS) machine.
We will elaborate upon the payment working system later in this article.
Also, this range of watches will consist of 3 different styles for men, while two for women.
The price of Titan Pay watches will fall under the range of Rs 2,995 and Rs 5,995.
How Does Titan Pay Watch Payment Work Cardless?
As given an insight above, you can make the payment for a desired Titan Pay watch by simply tapping it on the POS machine.
This means you do need to swipe or insert your SBI card into the POS machine, unlike the traditional practice.
The catch here is that every watch in the Titan Pay range will have a secure certified Near-Field Communication (NFC) chip embedded in its strap, by Tappy Technologies.
This will enable all the functionalities of a standard contactless SBI debit card.
Similar to a contactless debit card, you can make a payment of upto Rs 2000 using this watch, without requiring a PIN.