Bank of Baroda: The bank has launched new wearable smart products for the customers, with the help of which payments will be made standing in front of the POS machine.
Bank of Baroda: The second largest public sector bank has made its facilities more user friendly. Bank of Baroda has launched wearable products on Monday. Through this watch, you can make your payment by standing in front of any POS machine. Under this facility, people are going to get a lot of benefit regarding small payments. Let us inform that the bank has collaborated with National Payments Corporation of India through BoB World Web for payment of amount up to Rs 5000 through a smart watch.
How to take advantage of this facility?
BoB is a digital banking product of the World Web Bank. Under this product, users will get many payment solutions. Through this wearable product, customers can make payments up to Rs 5000 without a PIN on the go, ie anywhere.
What Bank Launched?
The bank is now moving towards fintech. In this sequence, Bank of Baroda has started a new facility of contactless payment. Under this, many wearable products have been launched under the name BoB World Web, this includes rings, lockets and watches. It is being told that from next month all these products will be available for the users.
Akhil Handa, Chief Digital Officer, Bank of Baroda said during the launch that in the next 2 years at least 10 percent of the customers will start making payments through these wearable devices. According to the existing rules of Reserve Bank of India, payment of up to Rs 5000 can be done from this.
NPCI statement
Nalin Bansal, head of corporate and fintech relations, NPCI, says that contactless transactions have increased rapidly after Corona. He says that after wearable products, the digital banking revolution will move faster.
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