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Mastercard, boAt enable tap and pay on wearables

Entrackr · 1y ago

Medial

Mastercard has teamed up with wearable brand boAt to bring tap-and-pay functionality to its smartwatches. Mastercard cardholders using boAt’s payment-enabled smartwatches will be able to use Crest Pay, boAt’s official app, to make seamless payments directly from their devices, according to a press release from Mastercard. The new feature allows cardholders to tokenize their existing Mastercard debit and credit cards from participating banks, enabling tap-and-pay on their boAt smartwatch. This feature supports transactions up to Rs 5,000 via a POS device without needing a PIN, enhancing convenience for everyday purchases. The contactless payment option will be available initially to Mastercard cardholders from select leading banks, with plans to extend it to additional banks over time. Market research shows that the Indian wearables market grew by 34% in 2023, with smartwatch shipments rising significantly by 73.7%, bringing nearly 54 million devices into the market.