Tap and Pay on Boat Smartwatches
Boat smartwatches in India are now equipped with tap and pay functionality, thanks to a new collaboration with Mastercard. Announced during the Global Fintech Fest (GFF) 2024, this feature allows users to make payments at eligible point-of-sale (POS) terminals across the country. The Indian wearable brand is integrating payment services for both credit and debit cards from supported banks, with Mastercard’s tokenization technology ensuring secure transactions through its official application.
Seamless and Secure Payments
Boat’s tap and pay functionality enables users to complete transactions up to Rs. 5,000 without needing to enter a PIN. Security remains a top priority, with cryptograms safeguarding the payment process through Mastercard’s device tokenization capabilities. Sameer Mehta, Co-Founder and CEO of Boat, emphasized that this partnership with Mastercard will help expand the reach of contactless payment solutions to a broader consumer base in India.
Wearable Market Growth and Future Plans
The introduction of this feature follows significant growth in India’s wearable market, which saw a 34 percent increase in 2023. Boat Smartwatches plans to make the tap and pay functionality available to Mastercard cardholders from India’s leading banks and expand this service to other banks in the future. As the smartwatch industry continues to evolve, this collaboration signals Boat‘s commitment to staying at the forefront of innovation in the Indian wearable space.
