City Union Bank (CUB), in association with fitness technology company GOQii and powered by the National Payments Corporation of India (NPCI), has introduced the CUB fitness watch debit card, a wearable payment solution.
With the concept of ‘Just wear, tap and pay the new fitness watch debit card will enable CUB customers to make contactless payments on the go. Also, the smartwatch will keep a tab on health and fitness.
This is the second product in the wearable payment solution space by CUB after it introduced RuPay on-the-go contactless wearable keychain for its debit card customers in December 2021.
“We used advanced technology to enable our customers to make digital transactions in a contemporary, safe and secure fashion. We are happy to introduce this CUB Easy Pay Debit Card in a Fitness Watch providing our customers with an easy tap and go payment solution,” said N Kamakodi, MD & CEO of City Union Bank, during the launch.
The first smartwatch was received by V R Venkataachalam, Chancellor of Sri Ramachandra Institute of Higher Education and Research in Chennai, on Monday.
Customers need to hold the wristwatch in front of the PoS device during payment like tapping the card on PoS. For payments above ₹5000, customers need to tap and enter their PIN. Customers can set the limit for their payments using net/ mobile banking. The smartwatch debit card comes at an introductory price of ₹3,499 (as against the actual cost of ₹6,499) and customers can raise a request for the same through net banking/ mobile banking.
Terming the payment solution as safe and secure, CUB said for each transaction done using the watch, SMS will be sent to the registered mobile number. Usage of the wristwatch can be managed by customers through CUB All-in-One Mobile App.
“This payment solution eliminates the need to carry cash, or even a wallet for that matter, and offers unparalleled and superior customer experience to cater to their day-to-day shopping needs. RuPay On-The-Go carries all the security features, notifications and controls of a regular card, and users can transact with the comfort of their safety,” Praveena Rai, Chief Operating Officer, NPCI, said.
The fitness watch will also enable the wearers to monitor their oxygen level (Sp02), body temperature, heart rate, blood pressure and 18 exercise modes.
“We are truly excited to partner with City Union Bank to offer contactless payments integrated with GOQii’s advanced health ecosystem to its banking customers. With the increasing digital payments and the need for social distancing we are confident that our association will benefit the user,” said Vishal Gondal, Founder & CEO of GOQii.
In addition, for early adopters, GOQii offers a free wellness package for three months comprising personal health coach, doctor tele-consultation & interactive video coaching.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.