Bank of Baroda (BoB) has launched a solution for digital banking payments, named bob World Wave. Wearable technology is witnessing the rise of tremendous interest across the world and lenders are using this opportunity to adopt the more convenient and cashless digital payments systems. This is an innovative solution, intended to perfectly deliver preventive health actions as well as easier payment transactions.
Bank’s on the go wearable payment solution, bob World Wave is designed to ensure convenient and seamless digital payments by our customers. It is anticipated that 10% of the small ticket payments will be made via wearable devices in the next two years.”
bob World Wave: Core features
- The bob World Wave wearable device will allow customers to monitor their Sp02, body temperature, heart rate and blood pressure.
- With bob World Wave, the Bank is providing an exclusive 3-months free wellness package along with a personal health coach, doctor teleconsultation and interactive video coaching.
- The device will provide contactless payments of up to Rs 5000 in all NFC enabled PoS devices. Customers can do contactless payments above Rs. 5000 using a PIN.
- The Bank will also provide a dummy plastic card (with the same card number printed as that of the wearable device along with expiry date and CVV) to enable customers to do e-commerce transactions at ease.
Important takeaways for all competitive exams:
- Bank Of Baroda Headquarters: Vadodara, Gujarat, India;
- Bank Of Baroda Chairman: Hasmukh Adhia;
- Bank Of Baroda MD & CEO: Sanjiv Chadha.