Categories: Banking

SBI, Titan launch contactless payment watches “Titan Pay”

Titan Company has partnered with the State Bank of India (SBI) to launch India’s first contactless payment watches named “Titan Pay”. Using these watches, the account holders of SBI can tap their Titan Pay watch on the contactless payment POS machines for making payments. It is powered by YONO SBI.

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About “Titan Pay”

Under this mechanism, payments of up to Rs. 2,000 can be made without entering a PIN, as per the RBI guidelines.
A secure certified near-field communication (NFC) chip developed by Tappy Technologies has been embedded in the watch strap that will enable the tap and pay feature in the watch.
The Titan Pay watch will act as a contactless debit card.
The payment feature on these watches will be accessible on over 2 million contactless MasterCard enabled PoS machines in the country.
This collection of Titan watches include three styles for men and two for women and are priced between Rs 2,995 and Rs 5,995.

Important takeaways for all competitive exams:

Chairman of Titan Company: N Muruganandam.
Titan Company Founded: 1984.
Titan Company Headquarters: Bengaluru, Karnataka.
Chairman of SBI: Rajnish Kumar.
SBI Headquarters: Mumbai, Maharashtra.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.