City Union Bank launches wearable payment solution in fitness watch

155
3
City Union Bank launches wearable payment solution in fitness watch

City Union Bank, the oldest Private Sector Bank in India, has launched a wearable payment solution called CUB fitness watch in association with smart-tech preventive healthcare platform GOQii and powered by National Payments Corporation of India NPCI.

We used advanced technology to enable our customers to make digital transactions more secure, safe and secure. "We are happy to introduce this CUB EasyPay in a Fitness Watch," said N. Kamakodi, managing director and chief executive officer of Customers, who need to hold the wristwatch in front of a PoS device during payment, like tapping the card on the PoS. Customers need to enter their PIN in order to pay above Rs 5,000. The introductory price of a smartwatch is Rs 3,499, compared to the actual cost of Rs 6,499 Customers can set limits for their payments using Net Mobile Banking. The bank said that payments made using this Debit Card in a Fitness Watch are safe and secure. For every transaction done using the watch, SMS will be sent to the registered mobile number. Customers can request the Fitness Watch Debit Card through Net banking Mobile banking. Customers can use wristwatches on their own through the CUB All in One Mobile App.

This fitness watch is useful for making contactless payments, and allows the wearer to monitor their Oxygen Level Sp 02 Body Temperature, Heart Rate, Blood Pressure and 18 Exercise Modes. For early adopters, GOQii offers a free wellness package for three months, comprising personal health coach, doctor tele-consult interactive video coaching.

At GOQii, Vishal Gondal, founder of the GOQii, said that they wanted to provide solutions for consumers to lead a healthy life. We are very excited to partner with to offer contactless payments integrated with GOQii's advanced health ecosystem to its banking customers. With increasing digital payments and the need for social distancing, we are confident that our association will benefit the user CUB, which recently launched their Debit Card in a Key Chain, which enables contactless Payment On the Go solutions. The CUB's focus on promoting contactless payment solutions is part of its overall strategy to offer a bouquet of Digital Payment Solutions.

Praveena Rai, COO, said We are happy to partner with and GOQii to launch CUB Easy Pay, Contactless RuPay On-The-Go payment solution. This payment solution eliminates the need to carry tender cash or even a wallet for that matter, and offers unparalleled and superior customer experience to cater to their day-to-day shopping needs. Users can transact with the comfort of their safety because RuPay On-The-Go carries all the security features, notifications and controls of a regular card. With the increase in acceptance infrastructure, the demand for contactless payment mechanisms is on a steady rise. This one-of-its-kind offering is set to redefine how contactless transactions will be made in the future, enabled with cutting edge innovation. The first watch was received on 24 January 2022 by V R Venkataachalam, Chancellor of Sri Ramachandra Institute of Higher Education and Research in Chennai.