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Now, Axis Bank users can tap and pay up to ₹5,000 via a smartwatch
Axis Bank customers can now make contactless payments through their smartwatch by tokenising their cards on the Crest Pay app, the bank announced on June 19, 2025.
The new payment feature is available on the Wave Fortune smartwatch, launched in partnership with boAt and Mastercard. The wearable device, priced at ₹3,299 and currently selling at an introductory rate of ₹2,599, allows users to make tap-and-pay transactions without pulling out their phone or wallet.
'With Crest Pay and tokenisation, we're making secure contactless payments more accessible,' said a Mastercard spokesperson. The service works with both Mastercard and Visa cards issued by Axis Bank.
The tap-and-pay feature uses tokenisation, replacing actual card details with a unique digital code stored securely in the smartwatch strap—making it safe from scammers, skimmed cards, and duplicate payments.
Contactless payments through the strap
The NFC payment feature is embedded in the watch strap itself. Once users add their Axis Bank credit or debit cards via the Crest Pay app, the card is tokenised—meaning it is converted into a secure digital version—before being stored in the strap.
'The smartwatch will allow the users with the highest standards of safety and security, combined with a quick and convenient payment experience,' said Arnika Dixit, president and head of cards, payments and wealth management at Axis Bank.
Tokenisation is handled by Mastercard's system, while the backend infrastructure is provided by Tappy Technologies. Users can pay up to ₹5,000 per transaction at any compatible point-of-sale terminal without entering a PIN.
According to Mastercard, wearable tech will soon become a standard way to pay.
'In the near future, payments will be gesture-based — integrated into our daily routines, with transactions occurring in a frictionless manner. Wearable devices, irrespective of the form factor, will play a key role in this evolution, offering quick and secure payment experiences,' said Gautam Aggarwal, division president for South Asia at Mastercard.
Despite being wearable-based, cardholders continue to receive cashback, reward points, or any benefits linked to their original plastic cards.
The smartwatch is currently available in an Active Black finish and can be purchased from the official boAt website.
Other smartwatch payment options in India
India has seen several NFC-enabled wearable launches over the past few years:
Titan Pay
Launched: October 2020
Titan partnered with SBI and YELDI Softcom to introduce Visa card payments through a chip in the watch strap.
GOQii Smart Vital
Launched: September 2021
Enabled NFC payments through a tie-up with YES Bank and Mastercard on GOQii fitness bands.
Apple Watch (Apple Pay in India)
Launched: May 2022
Introduced with limited support via HDFC Bank and Axis Bank for Mastercard and Visa users.
Garmin Pay
Launched: January 2021
Rolled out with contactless payment support for Axis and ICICI Bank cardholders using Mastercard and Visa.
Each of these solutions uses a combination of tokenisation and embedded chips to enable secure, contactless transactions directly from wearables.
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