IndusInd Bank partners Tappy Technologies and Thales to launch tokenisation solution for wearable payments
Indian banking heavyweight IndusInd Bank has partnered with Canadian paytech Tappy Technologies and French IT firm Thales to launch India’s first tokenisation solution for wearable payments.
IndusInd Bank launches Indus PayWear app and wearables
The Indus PayWear app will enable the bank’s customers to tokenise their credit and debit cards, which can then be applied to Indus PayWear wearables such as rings, watch clasps and stickers to facilitate contactless payments.
“By leveraging Tappy’s Tokenisation solution, customers can now easily convert their physical cards into digital form through the Indus PayWear app”, says Suboor Ahmed, chief operating officer at Tappy Technologies.
The integration of tokenisation into IndusInd’s PayWear devices, which are powered by Thales’ Secure Element Chip, will improve security while creating a more “convenient payment experience for users”, adds Ahmed.
This move sees IndusInd continue its digital innovation strategy, which last year saw the bank enter into a strategic partnership with Florida-headquartered fintech Viamericas Corporation, aimed at facilitating digital transfers from the US to India, specifically catering to Indian residents in the US.
