# Axis Bank launches contactless wearable payment devices (HT Tech) > The bank has partnered with Thales and Tappy Technologies to design and create these products, which are exclusively available on the Mastercard platform, it said in a release. # Axis Bank launches contactless wearable payment devices ## The bank has partnered with Thales and Tappy Technologies to design and create these products, which are exclusively available on the Mastercard platform, it said in a release. Mar 10 2021, 23:37 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![UPI will support payments and funds transfer like IMPS (Immediate Payment Service) but rids you of the hassle of adding beneficiaries by depending solely on the IDs distributed by banks](https://images.hindustantimes.com/tech/img/2021/03/10/1600x900/_9a0f112a-0b7d-11e6-97fe-df0dbda1a49a_1615399567129.jpg) UPI will support payments and funds transfer like IMPS (Immediate Payment Service) but rids you of the hassle of adding beneficiaries by depending solely on the IDs distributed by banks (Pixabay) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By PTI Private sector lender Axis Bank on Wednesday launched the country's first contactless wearable payment devices to allow customers make on-the-go transactions more conveniently. Announcing the 'Wear N Pay' wearable devices brand, Axis Bank said it is the first bank in India to offer such a service. The bank has partnered with Thales and Tappy Technologies to design and create these products, which are exclusively available on the Mastercard platform, it said in a release. Also read click here. The wearables are directly linked to the customers' bank account and function like a regular debit card. Customers can do their purchases at any merchant location that accepts contactless transactions. "With the increasing number of digital payments users, we see a huge opportunity in contactless payments, which will continue to grow, given the post pandemic situation and the need for social distancing. Contactless payments are the future of payments industry in India," Sanjeev Moghe, EVP & Head-Cards & Payments, Axis Bank said. Also read: GPay gets Business Pages; Search, Maps get new badges for women entrepreneurs The devices comes at a budget friendly price point, offering a safe and secure mode of payments on the go, he said, hoping the product would be an attractive value proposition for the users. The devices -- in the form of watch loop, key chain and band -- can be availed for an annual fee of ₹750 and subsequently ₹500 an year. Emmanuel de Roquefeuil, Vice President and Country Director, Thales, India, said the current time is apt to discover new secure payment methods and here contactless wearables arise as an optimal alternative. "Mastercard is constantly innovating technologies that securely and seamlessly integrate contactless payments into people's day-to-day lives. Given that the wearable tech space is an integral part of driving contactless payments, this launch and partnership is a further testimony to Mastercard working towards building a secure and inclusive payments ecosystem," Vikas Varma, COO-South Asia, Mastercard said. The bank said 'Wear N Pay' devices can be purchased via phone banking or at any Axis Bank branch. Non-customers can acquire the device by opening an account either online through Video KYC or by visiting their nearest Axis Bank branch. Transactions up to ₹5,000 can be done without any PIN by waving the device at a PoS machine. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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