SUMMARY
- Airtel Payments Bank, in partnership with Noise and NPCI, launched a NCMC-enabled smartwatch with an embedded RuPay chip, unveiled at the Global Fintech Fest 2024.
- The smartwatch supports contactless payments for retail and transit, offers customizable straps, and enhances digital payments in India.
- The device will soon be available online and at Airtel Payments Bank retail stores, providing a secure payment experience through RuPay chip technology.
Airtel Payments Bank, in collaboration with consumer tech brand Noise and the National Payments Corporation of India (NPCI), has introduced a new smartwatch featuring an embedded RuPay chip and National Common Mobility Card (NCMC) technology. Launched at the Global Fintech Fest 2024, this smartwatch enables contactless payments, allowing users to perform Tap and Pay transactions for retail purchases and transit payments across India.
The new smartwatch marks the second phase of Airtel Payments Bank’s partnership with Noise, focusing on enhancing the on-the-go payment experience. The device not only supports transport concessions and monthly passes but also offers customizable straps for a personalized user experience. According to Ganesh Ananthanarayanan, COO of Airtel Payments Bank, the smartwatch is designed to simplify financial transactions and daily life through its advanced features. Amit Khatri, co-founder of Noise, emphasized that integrating NCMC into the smartwatch represents a significant advancement in India’s digital payments landscape.
The smartwatch, equipped with an embedded RuPay chip, securely stores payment information and authenticates transactions, ensuring a high level of security for users. It will soon be available for purchase online and at Airtel Payments Bank retail outlets.
The National Common Mobility Card (NCMC) serves as a unified platform, allowing a single card or device to handle multiple travel and payment needs across different transportation systems and merchants in India. The Tap and Pay functionality permits secure, contactless payments at terminals by simply tapping the card or device. RuPay, an Indian domestic payment network, facilitates secure transactions by using an embedded chip that stores payment information and communicates with payment terminals to authenticate and protect user details.
