Axis Bank, one of the largest private sector banks in India, announced today its collaboration with boAt, India’s leading wearable brand, and Mastercard, a global leader in payment technologies.
This partnership aims to seamlessly integrate tap-and-pay NFC-enabled payments into the newly launched ‘Wave Fortune’ smartwatch.
Priced competitively at ₹3,299 (with a special offer price of ₹2,599), the Wave Fortune is designed to empower users with convenience, security, and an enhanced smartwatch experience.
Axis Bank cardholders can now securely tokenize and store their debit and credit cards on the Wave Fortune Smartwatch via Crest Pay, boAt’s official payment app, allowing for effortless contactless payments. This feature—powered by Mastercard’s tokenization technology and supported by the robust infrastructure of TAPPY Technologies—enables single-step payments of up to ₹5,000 at POS devices without the need to enter a card PIN, ensuring both speed and security.
The payment system, powered by Mastercard, allows users to securely tokenize and store their cards within the smartwatch strap for quick and seamless transactions. Axis Bank credit and debit cardholders using Mastercard and VISA networks will continue to enjoy the rewards and benefits associated with their cards while making payments with the Wave Fortune smartwatch.
Commenting on the partnership, Arnika Dixit, President and Head of Cards, Payments and Wealth Management at Axis Bank, stated, “At Axis Bank, we are continually working on innovative partnership models to offer cutting-edge digital banking solutions to our customers. In this endeavor, we are delighted to collaborate with boAt to seamlessly integrate contactless payments into everyday life. With our expertise in tokenized contactless payments, the Wave Fortune smartwatch will provide users with the highest standards of safety and security, alongside a quick and convenient payment experience.”
Sameer Mehta, Co-founder and CEO of boAt, added, “At boAt, we strive to push the boundaries of technology to enhance everyday convenience. Our partnership with Axis Bank brings secure and effortless payments to the wrist, making contactless transactions more accessible than ever.”
Gautam Aggarwal, Division President for South Asia at Mastercard, said, “In the near future, payments will be gesture-based and integrated into our daily routines, with transactions occurring frictionlessly. Wearable devices, regardless of their form factor, will play a critical role in this evolution, providing quick and secure payment experiences.”
