boAt will now let users make payments straight from the wrist
Boat has partnered with Mastercard to enable tap-and-pay functionality on its smartwatches, allowing users to make contactless payments up to Rs 5,000.
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Imagine making payments as easy as checking the time. That’s what India’s popular wearables brand Boat has brought to your wrist. In a move that will change the way we think about payments, Boat has partnered with Mastercard to introduce tap-and-pay directly on its smartwatch.
Through this collaboration, Boat users can now use their smartwatches for contactless payments through Crest Pay, Boat’s official app. The app allows users to link their existing Mastercard debit and credit cards from supported banks. Once set up, all it takes is a quick tap of the smartwatch on a point-of-sale (POS) device for payments up to Rs 5,000 – no PIN required. This makes everyday purchases faster and more convenient, while Mastercard’s advanced tokenisation technology ensures every transaction is secure.
Initially, the feature will be available to Mastercard users of select major banks, and there are plans to expand it to more banks soon. The launch of this feature highlights the growing demand for wearable technology in India. In 2023 alone, the wearable devices market in the country is expected to grow by an astonishing 34 percent, with smartwatch shipments growing by 73.7 percent – resulting in nearly 54 million devices in the hands of consumers.
Gautam Agarwal, Division President, South Asia, Mastercard is excited about this partnership. He said, “Mastercard is thrilled to work with Bot on this innovative solution that will bring our secure payment technology to their smartwatch. This collaboration is all about increasing user confidence in wearable payments and delivering an unparalleled experience.”
On the other hand, Bot’s co-founder and CEO Sameer Mehta sees this as a big step towards making everyday life easier for its customers. He said, “At Bot, we always try to push the boundaries of technology. Our partnership with Mastercard is an important milestone in making contactless payments more accessible and convenient for our users.”
This partnership between Boat and Mastercard is not just about keeping up with trends, but about setting new trends. By combining cutting-edge technology with user-friendly solutions, they are ensuring that the future of payments is on your wrist. So, the next time you go out shopping, you can leave your wallet at home and pay with a simple tap on your smartwatch.
