Business EconomyPosted at: Aug 1 2024 5:49PM


Kotak Mahindra Bank, GOQii launch smartwatch for contactless payments

New Delhi, Aug 1 (UNI) Kotak Mahindra Bank, in partnership with tech firm GOQii, on Thursday announced the launch of a smartwatch which would enable its customers to make contactless payments apart from monitoring some of the health parameters.
The wearable device has been priced at Rs 3,499.
"Powered by RuPay On-The-Go, the smartwatch enables seamless transactions up to Rs 5,000 without requiring a PIN," an official media release said on Thursday.
Rohit Bhasin, Head – Retail Liabilities Product & Chief Marketing Officer, Kotak Mahindra Bank said that with the rise of digital payments, customers seek fast and cashless payments for frequent, low-value transactions.
"The Kotak – GOQii Smart Vital Plus smartwatch eliminates the need for cash, cards, or smartphones, enabling secure and seamless banking on the go,” he said.
The company said that the smartwatch allows users to track blood pressure, body temperature, and SpO2 levels directly from their wrist.
"Additionally, its user-friendly interface ensures easy access to payments. Customers can seamlessly sign in with their Kotak accounts and enable contactless payments on the device, which provides the same level of safety and security as traditional contactless cards and mobile devices," it said.
Vishal Gondal, Founder & CEO, GOQii, added, “Health is wealth is a timeless adage. At GOQii, we have always believed in the importance of preventive healthcare and maintaining a healthy lifestyle. Partnering with Kotak Mahindra Bank to offer customers contactless payments integrated with GOQii’s advanced health ecosystem is a step towards making this a reality."
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Tags: #Kotak Mahindra Bank# GOQii launch smartwatch for contactless payments
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