The Next Evolution in Payment Technology Benefits and Features of Indus PayWear Wearables

Posted on Wednesday, June 12th, 2024 | By IndusInd Bank

Summary: With Indus PayWear, IndusInd Bank is revolutionising the payment landscape. Customers can choose from three all-in-one fashionable wearable accesories – a watch clasp, ring, and mobile sticker – for hassle-free transactions. The devices are waterproof and lightweight, do not require charging, and allow users to effortlessly tokenise their IndusInd Bank debit and credit cards onto a chic wearable device, supporting global tap and pay anywhere.

Nearly a decade ago, India embraced QR code-based payments, rapidly reshaping its payment landscape. Now, IndusInd Bank’s newest innovation marks a groundbreaking advance in the sector.

Ushering in a new era of convenience and security, IndusInd Bank is transforming the payment ecosystem with Indus PayWear, India’s first all-in-one tokenizable wearable accessories.

Designed in collaboration with MasterCard, this game-changing technology tokenizes IndusInd Bank debit or credit cards onto a chip-enabled wearable device. This device can be used to make seamless tap  transactions at contactless Point-of-Sale (PoS) terminals globally.

With Indus PayWear, users no longer need to rely on their wallets or smartphones to make transactions. Instead, they can enjoy a seamless payment experience powered by their wearable device, which can be purchased in the form of a ring, mobile sticker, or watch clasp.

Pioneering a game-changing payment technology, IndusInd Bank has reinforced its commitment to delivering unparalleled flexibility, convenience, and security as a modern bank.

What is Indus PayWear?

Indus PayWear is a range of fashionable wearable accessories designed for convenient and secure transactions. The wearables enable users to easily tap their devices to make payments at merchants with NFC-enabled POS machines.

With Indus PayWear, users do not need to carry their wallets or cards. Additionally, these all-in-one payment wearable devices offer a versatile ‘One Wearable, Any Card’ feature, allowing users to seamlessly switch between different IndusInd Bank debit or credit cards as required.

Depending on your preference and style, you can choose between three different wearable variants:

• Mobile Sticker: Can be affixed to the back of your phone, enabling tap and pay at any contactless PoS terminal, without the need to unlock your phone.
• Watch Clasp: Can be attached to your watch strap, on a fitness tracker, or on a jewelry piece. It is available in two colours – black and grey.
• Ring: Now your card can sit on your fingertips. Available in various sizes – small, medium, large, and extra large.

Further enhancing its appeal, Indus PayWear comes with a user-friendly mobile app that offers users unparalleled flexibility to seamlessly switch between linked IndusInd Bank debit and credit cards. The app is also packed with robust security features and payment tracking capabilities, giving users complete control over their transactions.

Features of Indus PayWear

The Indus PayWear is packed with remarkable features such as:

1. Tap and Go

The Indus PayWear accessory allows you to make tap-and-pay transactions at any merchant with an NFC-enabled POS machine. To make transactions below INR 5,000, simply tap the device on the machine. For transactions with a value exceeding INR 5,000, you will be required to enter the card’s PIN.

2. Waterproof and Lightweight Design

Designed for daily wear, Indus PayWear range features a waterproof and lightweight design. Whether you’re working out in the gym, running errands, or enjoying outdoor activities, your all-in-one payment wearable device remains securely and comfortably attached throughout the day.

3. No Charging Required

 Indus PayWear does not require a battery to operate and, thus, eliminates the need for charging. Users can make seamless payments without any interruptions. Simply wear your device and enjoy hassle-free transactions anytime, anywhere.

4. Available in Various Forms

Select the device that best suits your lifestyle and preferences. Indus PayWear comes in three elegant and convenient designs:

• A watch clasp
• A ring
• A mobile sticker

Benefits of Indus PayWear

Experience unparalleled convenience, security, and control with Indus PayWear. Enjoy benefits like:

1. Stay in Control

Seamlessly switch between IndusInd Bank debit or credit cards linked to your wearable device for unparalleled flexibility. Whether you wish to use different cards for specific purchases or manage multiple accounts, PayWear gives you complete control of your transactions.

2. Secure Transactions

Rest assured that your sensitive financial information remains protected at all times. With Indus PayWearwearables, your real card number is never exposed during transactions. Instead, a unique token is generated when you connect your card to the wearable, ensuring maximum security and protecting you from potential skimming and data breaches.

3. Enhanced Safety Features

Indus PayWear wearables give you the ability to lock them when not in use. This added layer of protection safeguards your device and money, preventing unauthorised access and giving you peace of mind wherever you go.

Applying for Indus PayWear

All IndusInd Bank customers with a valid Debit Card can apply for Indus PayWear. You must also hold an Android device that supports NFC technology to use your wearable. However, Indie account holders are currently not eligible for Indus PayWear.

You can apply for your wearable online or at your nearest IndusInd Bank branch.

Wear, Tap, and Pay with Indus PayWear

With Indus PayWear, InudsInd Bank is boldly shaping the future of payments, offering a seamless and secure way to transact. Whether you prefer an elegant watch clasp, a sleek ring, or a convenient mobile sticker, Indus PayWear comes in a variety of options to suit your preferences and style.

Enjoy the flexibility to make payments anytime, anywhere, without the need for wallets or smartphones. Embrace the next evolution in payment technology with IndusInd Bank. Join the waitlist for Indus PayWear today!