&w=3840&q=100)
Now, Axis Bank users can tap and pay up to ₹5,000 via a smartwatch
The new payment feature is available on the Wave Fortune smartwatch, launched in partnership with boAt and Mastercard. The wearable device, priced at ₹3,299 and currently selling at an introductory rate of ₹2,599, allows users to make tap-and-pay transactions without pulling out their phone or wallet.
'With Crest Pay and tokenisation, we're making secure contactless payments more accessible,' said a Mastercard spokesperson. The service works with both Mastercard and Visa cards issued by Axis Bank.
The tap-and-pay feature uses tokenisation, replacing actual card details with a unique digital code stored securely in the smartwatch strap—making it safe from scammers, skimmed cards, and duplicate payments.
Contactless payments through the strap
The NFC payment feature is embedded in the watch strap itself. Once users add their Axis Bank credit or debit cards via the Crest Pay app, the card is tokenised—meaning it is converted into a secure digital version—before being stored in the strap.
'The smartwatch will allow the users with the highest standards of safety and security, combined with a quick and convenient payment experience,' said Arnika Dixit, president and head of cards, payments and wealth management at Axis Bank.
Tokenisation is handled by Mastercard's system, while the backend infrastructure is provided by Tappy Technologies. Users can pay up to ₹5,000 per transaction at any compatible point-of-sale terminal without entering a PIN.
According to Mastercard, wearable tech will soon become a standard way to pay.
'In the near future, payments will be gesture-based — integrated into our daily routines, with transactions occurring in a frictionless manner. Wearable devices, irrespective of the form factor, will play a key role in this evolution, offering quick and secure payment experiences,' said Gautam Aggarwal, division president for South Asia at Mastercard.
Despite being wearable-based, cardholders continue to receive cashback, reward points, or any benefits linked to their original plastic cards.
The smartwatch is currently available in an Active Black finish and can be purchased from the official boAt website.
Other smartwatch payment options in India
India has seen several NFC-enabled wearable launches over the past few years:
Titan Pay
Launched: October 2020
Titan partnered with SBI and YELDI Softcom to introduce Visa card payments through a chip in the watch strap.
GOQii Smart Vital
Launched: September 2021
Enabled NFC payments through a tie-up with YES Bank and Mastercard on GOQii fitness bands.
Apple Watch (Apple Pay in India)
Launched: May 2022
Introduced with limited support via HDFC Bank and Axis Bank for Mastercard and Visa users.
Garmin Pay
Launched: January 2021
Rolled out with contactless payment support for Axis and ICICI Bank cardholders using Mastercard and Visa.
Each of these solutions uses a combination of tokenisation and embedded chips to enable secure, contactless transactions directly from wearables.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
4 hours ago
- India Today
Traditional keys take a backseat as one in three Hyundai buyers opt for digital key
Hyundai Motor India Limited (HMIL) has reported that nearly one in three of its customers are choosing to enrol for its digital key feature, signalling a strong shift in buyer preference towards advanced, tech-driven conveniences in its debut on the Hyundai Alcazar in September 2024 and subsequent introduction on the Creta Electric in January 2025, the NFC-based digital key has achieved a notable 33 per cent adoption rate. The feature allows owners to replace traditional keys with a virtual one, stored securely on compatible smartphones, smartwatches, or an NFC does it work?Once set up through the Hyundai Bluelink app, the digital key enables customers to tap their device on the car's door handle to lock/unlock and place it on the wireless charging pad to start the vehicle. Owners can also share access with up to three people or seven devices at a time, a feature that 35 per cent of current Digital Key users are already utilising to give family members or friends access to their cars. Interestingly, iOS devices dominate usage, accounting for 68 per cent of Digital Key adoption, while Android devices make up the remaining 32 per on the growing customer preference, Unsoo Kim, Managing Director and CEO, HMIL, said: "At Hyundai Motor India, innovation is driven by purpose, offering meaningful solutions that elevate customer experience. As the first OEM to launch connected car technology in India back in 2019, we remain committed to democratizing premium features for Indian customers. The enthusiastic response to digital key reaffirms our belief in creating technology that adds real value to everyday life."Digital key convenienceThe digital key, powered by NFC (Near Field Communication), provides flexibility and security as access can be created, shared, or revoked anytime. It also eliminates concerns around misplacing or forgetting a physical key, enhancing peace of mind for both the Alcazar and Creta Electric now offering this functionality in select variants, Hyundai says the feature is gaining traction as a real-world convenience, not just a novelty. Beyond locking, unlocking, and starting the car, its ability to seamlessly integrate with smart devices and share access across multiple users has contributed to its growing company added that expanding the availability of digital key across more models is part of its future roadmap, as HMIL continues its push to bring advanced mobility technologies into mainstream segments in to Auto Today Magazine- Ends
Mint
7 hours ago
- Mint
Market strategy: Nifty 50 valuations reasonable, FY26 EPS growth seen 9%: MOFSL; prefer BFSI, Consumer, Telecom stocks
Corporate earnings for 1QFY26, referred to as the 'Crossover quarter,' indicated a shift from the modest low single-digit earnings growth of FY25 to a consistent trajectory of double-digit growth, according to Motilal Oswal Financial Services (MOFSL). MOFSL believes that a significant aspect of this quarter was the improved sectoral breadth of earnings growth. In the MOFSL coverage universe, large-cap companies (87 in total) achieved an earnings growth of 10% Year-over-Year (YoY), which is consistent with the overall universe. Mid-cap companies (92 in total) continued their strong performance from the previous two quarters, delivering impressive earnings growth of 24% Year-over-Year, surpassing our estimate of 20%. Conversely, small-cap earnings declined by 11% YoY, contrasting with their expectation of flat growth, with 46% of the coverage universe failing to meet their projections. As per the brokerage, the highest earnings upgrades projected for FY26E include Tata Consumer (9.7%), Apollo Hospitals (6.5%), Eicher Motors (3.8%), Hero MotoCorp (3.5%), and IndusInd Bank (2.6%). The most significant earnings downgrades anticipated for FY26E are Eternal (-35.4%), ONGC (-10.2%), Axis Bank (-8.7%), Power Grid Corp. (-5.3%), and Sun Pharma (-5.1%). MOFSL pointed out that the projected growth in EPS for Nifty-50 is expected to reach around 9% in FY26, compared to a sluggish 1% in FY25, supported by an anticipated enhancement in the macroeconomic landscape due to supportive fiscal and monetary policies. 'The Nifty 50 EPS estimate for FY26 was reduced by 1.2% to ₹ 1,108, largely owing to ONGC, Reliance Industries, Axis Bank, Power Grid Corp, and HDFC Bank. FY27E EPS was also reduced by 0.9% to ₹ 1,296 (from ₹ 1,308) due to downgrades in ONGC, Reliance Industries, Axis Bank, Eternal, and Power Grid Corp,' said the brokerage. As per the brokerage, the earnings of 1QFY26 have largely aligned with expectations, showing a reduction in the intensity of earnings cuts compared to earlier quarters, although the pattern of increased downgrades persists this quarter. Despite the Indian equity market experiencing fluctuations over the last two months due to tariff concerns, they maintain that the potential for improved earnings and reasonable valuations (excluding small-caps) should allow the market to secure moderate growth. The brokerage asserts that the impact of the US tariff disputes on Indian markets will be minimal. Currently, the Nifty 50 is trading at 22.2x FY26E earnings, which is close to its long-term average of 20.7x. MOFSL's model portfolio continues to favor large-cap stocks, holding a weight of approximately 70%, but has become more optimistic about mid-cap stocks, increasing their weight to 22% from 16% due to improved earnings performance and better outlooks. They are overweight in sectors such as BFSI, Consumer Discretionary, Industrials, Healthcare, and Telecom, while they are underweight in Oil & Gas, Cement, Real Estate, and Metals. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
India Today
8 hours ago
- India Today
Workplace bullying harms creativity, innovation in employees, says IIM study
Workplace bullying and subtle forms of negative behaviour, such as exclusion, humiliation, or unfair treatment, are silently eroding employees' creativity, according to a new study by the Indian Institute of Management (IIM) research has found that such behaviour not only reduces creative thinking but also lowers the chances of employees pursuing innovative side projects, which are often self-initiated and later presented to management when they yield significant side projects, when supported, can become engines of business growth. However, the study highlights how bullying suppresses such RESEARCH DESIGN According to officials, the researchers employed a mixed-method approach to examine the issue. In the experimental scenario-based section, data was gathered from 112 the survey-based part, input from 313 employees working in IT-enabled companies was collected, giving the study a broad Chauhan, PhD scholar at IIM Lucknow, explained: "Our study sheds light on how subtle forms of workplace mistreatment can silently erode employees' creative potential. Organisations must create an environment where support, respect, and open dialogue are the norm to unlock true innovation."HOW NEGATIVE BEHAVIOUR DRAINS ENERGYThe study found that workplace bullying reduces employees' likelihood of engaging in innovative side projects. It also observed that such behaviour drains their 'relational energy', the sense of support and recognition they need to think and transparent communication between managers and employees, the researchers noted, can preserve and revive creative thinking, preventing long-term damage to workplace RECOGNITION FOR THE STUDYThe study received the 'Best Paper in Proceedings Award' in the conflict management division at the 85th Academy of Management (AOM) Conference held in Copenhagen, Payal Mehra, Communications, IIM Lucknow, said: "It is an honour to have our work recognised at a global platform like AOM. We hope these findings encourage companies to not only curb workplace bullying but also actively nurture the creative spark in their employees."CALL FOR STRONGER POLICIESThe study underlined the urgent need for organisations to identify and address negative workplace behaviour. It recommended the implementation of strong anti-bullying policies, alongside proper punitive systems for offenders."Organisations should establish a proper punitive system for detrimental workplace bullying at workplace. Firms can include employee behaviour as a significant metric for their performance assessment to mitigate workplace abuse. They should also offer secure avenues for employees to lodge appeals and enact proactive measures against workplace bullying," the study fostering respect, communication, and fairness, organisations can not only safeguard their employees' well-being but also unlock greater innovation and creativity.(With inputs from PTI)- Ends
