Mumbai: Mastercard has announced a partnership with boAt to enable tap and pay functionality on boAt’s wearable devices. This feature, available via the Crest Pay application, allows Mastercard cardholders to tokenize their cards and make contactless payments directly through their smartwatches.
The tap and pay feature supports transactions up to INR 5,000 without requiring a PIN, offering convenience for everyday purchases. The technology is secured by Mastercard’s device tokenization, which ensures the safety of transactions through the use of cryptograms. Initially, the service will be available to Mastercard cardholders from select banks, with plans to expand to more banks in the future. This partnership aligns with the growing demand for wearable technology in India, where the wearables market expanded by 34% in 2023.
Gautam Aggarwal, Division President, South Asia at Mastercard, noted the collaboration’s role in advancing secure and inclusive payment options. Sameer Mehta, Co-founder and CEO of boAt, highlighted the partnership as a step towards enhancing customer experience with innovative payment solutions.
