Titan and SBI have partnered up to launch India’s first contactless payment functionality watch.
The fifth largest watch brand in the world, Titan Company Limited has partnered with country’s largest lender State Bank of India (SBI) to introduce Titan Pay powered by YONO SBI.
Titan will launch a range of new watches priced between Rs 2,995 and Rs 5,995 which will have this feature in it. SBI account holders can tap their Titan Pay watch on contactless payment POS machine without the need of swiping or inserting their SBI bank card. Payments of up to Rs 2,000 can be made without entering a PIN. This feature is called as NFC. It is a chip which is embedded in the devices to make it possible.
The corona virus has forced people to do all the things without contact as much as possible. So the timing of the launch looks quite good.
Thoughts of the Owners
The Managing Director of Titan C K Venkatraman has shared his thoughts on this launch. He says
“Titan has always been at the pinnacle of design and innovation. 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.”
Even the people from SBI had their thoughts on this launch, Rajnish Kumar, Chariman of SBI said
“We are glad to be a part of the launch of this unique proposition in the contactless payments space by Titan. It gives me immense pleasure to join hands with one of the world’s 5th largest watch manufacturer, to provide a smart and innovative shopping solution for our YONO customers with Titan Payment Watches. We believe this innovative offering will redefine the shopping experience for our customers with Tap & Pay technology. With latest technological advancements, State Bank of India has always been striving towards providing innovative, best-in-class banking services for our customers”.
It is actually a good feature to have. There is NFC in a lot of Android devices nowadays. And NFC on wathces are already present in US and major European Nations. The pricing also seems quite good by Titan. You can check out this watch collection at www.titan.co.in. It is exclusively available at their site only.