Mastercard has announced a collaboration with boAt, India’s leading wearables brand, to bring tap and pay functionality to boAt’s smartwatches.
Tap and Pay on boAt Wearables
This integration allows Mastercard cardholders to make seamless transactions using their boAt payment-enabled smartwatches via Crest Pay, boAt’s official app.
India’s wearables market has experienced substantial growth, expanding by 34% in 2023. This growth includes a 73.7% increase in smartwatch shipments, resulting in nearly 54 million devices entering the market.
In response, the new tap and pay feature will enable users to tokenize their existing Mastercard debit and credit cards from supported banks.
This feature supports transactions up to Rs. 5,000 without requiring a PIN, enhancing convenience for everyday purchases. It utilizes Mastercard’s device tokenization technology, which uses cryptograms to ensure both speed and security in transactions.
Availability
Initially, this contactless payment feature will be available to Mastercard cardholders from select leading banks, with plans to expand to additional banks over time.
Speaking about the partnership and launch, Gautam Aggarwal, Division President, South Asia at Mastercard, said,
Mastercard is excited to partner with boAt to bring a new, innovative solution to the tap and pay segment, delivering on our commitment to inclusive and secure payments. This collaboration will combine Mastercard’s trusted payment technology with boAt’s devices, providing users with a seamless and confident wearable payment experience.
Speaking about the partnership, Sameer Mehta, Co-founder and CEO of boAt, said,
At boAt, we constantly aim to push technological boundaries to enhance our customers’ lives. Our collaboration with Mastercard will expand access to a consumer base that has consistently embraced new and innovative forms of contactless payments.