Titan launches new watches with NFC for contactless payments
In order to realize this functionality, Titan uses a secure Near-Field Communication (NFC) chip which is embedded within the watch strap. The NFC chip is developed by a Canada-based start-up company Tappy Technologies.
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Titan Pay-enabled watch starts at Rs 2,995 (Source: Titan India)
Amidst the Covid-19 pandemic, people are resorting to contactless payments via Debit/Credit cards (with NFC), mobile wallets to avoid paying in cash. Keeping that in mind, Titan has launched its new series of watches which will have Titan buy contactless payments. For this, Titan partnered with the depository financial institution of India (SBI). Users are going to be ready to make payments just by bringing the phone closer to the POS machines which are available in most shops, restaurants, petrol pumps etc.
To make things clear, the Titan Pay-enabled watches aren’t smartwatches. Users who have an account with SBI (YONO account holders) are going to be ready to use Titan Pay. Payments up to Rs 2,000 are often done by just taking the watch near the POS machines whereas, for transactions quite the said amount, users are going to be required to enter their pin.
“We already felt that this product was something the longer term was ready for and since of Covid suddenly the longer term was here and now,” said Suparna Mitra, Chief military officer , watches and wearables division, at Titan.
In order to realize this functionality, Titan uses a secure Near-Field Communication (NFC) chip which is embedded within the watch strap. The NFC chip is developed by a Canada-based start-up company Tappy Technologies. This chip are often embedded into any wearable to form smart payments.
These watches are available for men and ladies and are available with black and brown leather straps and round dials the lads collection starts at Rs 2,995 rising to Rs 5,995 whereas the ladies collection starts at Rs 3,895 rising to Rs 4,395. they need black and brown straps along side different watch dials counting on the worth . they’re available for purchase on Titan India’s website.
“Titan has always been at the top of design and innovation. we’ve always launched products to cater to the changing needs of our consumers. SBI is that the perfect partner to introduce a payment solution for the new normal that’s fast, secure and seamless. This product won’t only satisfy the consumer’s banking needs but also will serve today’s evolving consumers with its classic and complicated designs,” C K Venkataraman, director of Titan, said during a statement.
