Titan launches new watches with NFC payments in India

Friday 18 September 2020 12:43 CET | News

India-based manufacturer Titan has launched a new series of watches that will have Titan Pay for contactless payments. 

For this, Titan partnered with the State Bank of India (SBI). Users will be able to make payments just by bringing the phone closer to the POS machines which are available in most shops, restaurants, petrol pumps etc.

Titan Pay-enabled watches are not smartwatches. Users who have an account with SBI (YONO account holders) will be able to use Titan Pay. Payments up to USD 27 can be done by just taking the watch near the POS machines whereas, for transactions more than the said amount, users will be required to enter their pin.

In order to achieve this functionality, Titan uses a secure Near-Field Communication  (NFC) chip which is embedded in the watch strap. The NFC chip is developed by a Canada-based startup company Tappy Technologies. This chip can be embedded into any wearable to make smart payments.

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Keywords: Titan, Titan Pay, State Bank of India, India, ecommerce, online payments, NFC payments, Asia, APAC, POS machines, Near-Field Communication
Categories: Payments & Commerce
Countries: India
This article is part of category

Payments & Commerce