CHENNAI: The City Union Bank in association with smart-tech-enabled preventive healthcare platform GOQii and powered by National Payments Corporation of India (NPCI), launched a CUB fitness watch debit card, a wearable payment solution.
With the concept of ‘Just wear, tap and pay the new fitness watch debit card will enable customers make contactless payments on the go. Also, the smartwatch will keep a tab on health and fitness. “We used advanced technology to enable customers make digital transactions in a contemporary, safe and secure fashion.
We are happy to introduce CUB Easy Pay debit card, a fitness watch providing our customers with an easy tap and go payment solution,” said N Kamakodi, managing director and chief executive officer of City Union Bank. Customers need to hold the wristwatch in front of the PoS device during payment like tapping the card on PoS.
For payments above Rs 5,000, customers need to tap and enter PIN. This is the second product in the wearable payment solution space by CUB after it introduced RuPay on-the-go contactless wearable keychain for its debit card customers in December.
The first smartwatch was received by V R Venkataachalam, Chancellor of Sri Ramachandra Institute of Higher Education and Research in Chennai, where the launch event was organised, on Monday.