Axis Bank, boAt, and Mastercard introduce Wave Fortune smartwatch with NFC tap-and-pay, enabling secure contactless payments up to ₹5,000 from the wrist.
In a significant move toward wearable fintech innovation, Axis Bank, in collaboration with boAt and Mastercard, has launched India’s first NFC-enabled smartwatch – the boAt Wave Fortune – with integrated tap-and-pay functionality. This strategic partnership allows users to make secure contactless payments directly from their wrist, without needing to carry a physical card or smartphone.
The Wave Fortune smartwatch is priced at ₹3,299, with an introductory offer of ₹2,599. It features 1.96” HD AMOLED display, Bluetooth calling, 100+ sports modes, and health monitoring features, but the standout feature is the seamless payment experience via NFC technology.
Axis Bank Mastercard and Visa cardholders can enable this feature by tokenizing their debit or credit cards through the boAt Crest App, ensuring payment credentials remain encrypted and secure. Users can make payments up to ₹5,000 without a PIN, at any NFC-enabled point-of-sale terminal across India.
Arnika Dixit, President & Head – Cards, Payments & Wealth Management, Axis Bank, said:
“We are proud to introduce this innovation-driven collaboration with boAt and Mastercard. Wave Fortune will empower our customers with a safe, contactless, and seamless way to pay, truly redefining convenience in everyday banking.”
Gautam Aggarwal, Division President, South Asia, Mastercard, added:
“Wearable devices like this smartwatch are the future of payments. Our goal is to deliver intuitive, secure, and smart solutions that enhance user experience.”
The move makes sense because more and more people in India want to use wearable tech and pay with cash. boAt, a well-known brand in the lifestyle electronics space, is now making waves in the fintech space with a product that combines style, function, and usefulness.
This is a big step forward in the development of smart wearables. It moves the goal of digital financial inclusion forward and strengthens the growing connection between technology, lifestyle, and banking in India.
