IndusInd Bank teams up for new wearable payment solution launch.

TLDR:

• IndusInd Bank partners with Tappy Technologies and Thales to launch tokenisation solution for wearable payments
• Indus PayWear app allows customers to tokenise credit and debit cards for contactless payments

Indian banking giant, IndusInd Bank, has collaborated with Canadian paytech company Tappy Technologies and French IT firm Thales to introduce India’s first tokenisation solution for wearable payments. The new Indus PayWear app will enable customers to convert their credit and debit cards into digital form and use them on Indus PayWear wearables like rings, watch clasps, and stickers for convenient contactless payments. This advancement in technology not only enhances security with Thales’ Secure Element Chip but also offers a seamless payment experience for users. This innovative step aligns with IndusInd Bank’s ongoing digital innovation strategy, following its strategic partnership with US-based fintech Viamericas Corporation for facilitating digital transfers from the US to India.