IndusInd Bank launches India’s first all-in-one payment wearables

IndusInd Bank on Monday (March 11) announced the launch of its contactless payments wearables, 'Indus PayWear'. This is India's first all-in-one tokenisable wearables for both debit and credit cards on Mastercard, with the offering to be extended to other card networks shortly, the lender said.

Indus PayWear will facilitate swift and secure tap-and-pay transactions at any contactless Point-of-Sale (PoS) terminal across the globe.

The three versatile wearables, i.e. ring, watch clasp, and stickers, cater to diverse preferences of customers, with a price ranging from ₹499 to ₹2,999, the lender said.

The Indus PayWear mobile app will allow the customer to switch between cards, thereby making it “All-in-One” wearable.

In addition, the app will provide transaction monitoring and management/blocking of the wearable device for enhanced security, the bank said.

Furthermore, Indus PayWear transactions will offer the rewards and security of the underlying debit or credit card.

"While transactions below ₹5,000 will be done as a tap-and-pay using the wearable, transactions exceeding ₹5,000 will necessitate the added security of the PIN of the linked card to be entered on the PoS machine, as per RBI guidelines," IndusInd Bank said.