Titan, in partnership with the State Bank of India (SBI) have pioneered the first contactless payment watches of India at budget-friendly rates. The watch is called the Titan Pay and is available in 3 styles for men and 2 for women, with prices starting from Rs. 2,995 up to Rs. 5,995.
Titan Pay is powered by YONO, which is SBIs digital banking platform. SBI account holders can tap their Titan Pay watches to pay through the contactless POS machine without the need of swiping or inserting their SBI cards. A maximum of Rs. 2,000 can be made without the need of entering the PIN.
This is possible due to a Near-Field Communication (NFC) chip which is embedded in the watch strap – which is similar to the technology employed by the SBI contactless debit card. Titan have also mentioned that ‘the payment feature on these watches will be accessible on over 2 million contactless MasterCard-enabled Point-of-Sale (POS) machines in the country’.
These contemporary analog watches do have the classic feel of a Titan watch, which is filled with simplicity and elegance, unlike the current wave of smartwatches. With a stylish analog dial, these watches are a fascinating innovation because of the combination old and new, bringing a hybrid breed into the market – which is not new, but definitely rare.
“We have always launched products to cater to the changing needs of our consumers. SBI is the perfect partner to introduce a payment solution for the new normal that is fast, secure and seamless. This product will not only satisfy the consumer’s banking needs but will also serve today’s evolving consumers with its classic and sophisticated designs”, says Mr. C K Venkataraman, Managing Director, Titan Company Limited.
For more information, please visit this page.
Leave a Reply