NEW DELHI: Airtel Payments Bank, in partnership with consumer tech brand Noise and the National Payments Corporation of India (NPCI), has launched a new NCMC-enabled smartwatch featuring an embedded RuPay chip. Announced at the Global Fintech Fest 2024, this smartwatch integrates contactless payment capabilities with advanced lifestyle features. It allows users to make Tap and Pay transactions for both retail purchases and transit payments across India.
The smartwatch represents the second phase of Airtel Payments Bank’s collaboration with Noise, aiming to transform the payment experience on the go. It supports transport concessions, monthly passes, and offers customizable straps for user convenience.
Ganesh Ananthanarayanan, COO of Airtel Payments Bank, highlighted that the smartwatch enhances financial transactions and daily life with its advanced features. Amit Khatri, co-founder of Noise, noted that this integration of NCMC into the smartwatch is a significant advancement in digital payments in India. The smartwatch will soon be available for purchase online and at Airtel Payments Bank retail stores.
NCMC-enabled watch: What is it?
NCMC stands for National Common Mobility Card, a unified platform enabling a single card for various travel and payment needs across different transportation systems and merchants in India. The Tap and Pay functionality allows users to make payments by simply tapping their card or device on a contactless terminal. For the Airtel Payments Bank Smartwatch, this means making contactless payments for transportation and purchases.
RuPay chip for secure transactions
RuPay is an Indian domestic payment network, similar to Visa or Mastercard but designed for the Indian market. A RuPay chip embedded in a smartwatch securely stores payment information, communicates with payment terminals, authenticates transactions, and protects user details.