Powered by RuPay On-The-Go, the smartwatch enables contactless payments upto INR5000 without PIN
Mumbai, 01 August 2024: Kotak Mahindra Bank Ltd (“KMBL” / “Kotak”) has teamed up with GOQii to launch the Kotak – GOQii Smart Vital Plus smartwatch, revolutionizing the way customers make payments. Priced at INR 3499, this innovative wearable device combines contactless payments with health monitoring features. Powered by RuPay On-The-Go, the smartwatch enables seamless transactions up to INR 5000 without requiring a PIN.
Launching the product, Rohit Bhasin, Head – Retail Liabilities Product & Chief Marketing Officer, Kotak Mahindra Bank said, “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.”
The Kotak – GOQii Smart Vital Plus 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.
Vishal Gondal, Founder & CEO, GOQii, said, “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. This integration is crucial, as it enhances convenience, promotes health and safety, ensures secure transactions, and aligns with the growing trend of technological integration in daily life. This functionality supports the vision of a seamless, healthy, and efficient lifestyle, which is particularly crucial in today’s fast-paced world”.
Rajeeth Pillai, Chief Relationship Management, NPCI said, “We are happy with the launch of Smart Vital Plus smartwatch for contactless payments on NPCI’s innovative RuPay On-The-Gorange. This collaboration empowers users to carry out their day-to-day transactions conveniently and securely while on-the-go. Innovative form factors for payment solutions are redefining the payments ecosystem, offering an enhanced user experience, and making transactions swift and seamless. With the acceptance infrastructure growing rapidly, the demand for contactless payment solutions is poised to risewithtech-savvy consumers.”
Kotak Bank customers can purchase the smartwatch through the bank’s mobile app or website. Non-Kotak customers will need to open a Kotak account to avail this facility.
