The Titan Company, in association with State Bank of India, has introduced watches that are capable of offering payment without contact. The bank gave this information in a statement. The bank said that these watches have been equipped with its mobile banking app SBI YONO Mobile App. These have the facility of non-contact payment.
POS machines will pay without card
With the help of these watches, consumers will now be able to pay from Point of Sale (POS) machines without using debit cards. SBI Chairman Rajnish Kumar told reporters, ‘We believe this innovative offering will redefine the shopping experience for our customers with’ tap and pay ‘technology.
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Pay up to 2000 without a password
He said that there are endless opportunities in this, because we have seen the surge in digital transactions. This time is right for contactless (payment). ‘ He said that to avail this facility, the customer would have to be registered users of YONO. Currently, Yono has 260 million users. The bank said that customers will be able to pay up to two thousand rupees without a PIN.