Mastercard and wearable manufacturer boAt have partnered to enable tap-and-pay on their smartwatches.
According to a press release from Mastercard, Mastercard cardholders who use smartwatches with payment capabilities from boAt will be able to make easy payments straight from their devices via Crest Pay, the official boAt app.
Cardholders may now tokenize their current Mastercard debit and credit cards from partner banks to enable tap-and-pay on their boat smartwatch. This feature makes daily purchases more convenient by enabling transactions up to Rs 5,000 via a POS device without requiring a PIN.
With plans to gradually expand to other banks, the contactless payment option will first be accessible to Mastercard cardholders from a small group of top banks.
According to industry research, the wearables market in India expanded by 34% in 2023. Shipments of smartwatches increased dramatically by 73.7%, resulting in the introduction of approximately 54 million devices into the market.
This could revolutionize the fast-paced world of technology, allowing everyone to make easy payments without carrying any cards.
