Question
What is the main purpose of the Indus PayWear introduced
by IndusInd Bank?Solution
• IndusInd Bank has introduced 'Indus PayWear,' which, in collaboration with Mastercard, is the country's first all-in-one tokenisable wearables for both debit and credit cards. • This offering aims to enable users to tokenise their IndusInd Bank cards onto a chip-enabled wearable device. • Transactions below Rs 5000 can be seamlessly conducted as tap-and-pay using the wearable. However, for transactions exceeding Rs. 5000, the PIN of the linked card must be entered on the PoS machine in accordance with RBI guidelines. Learn Along: About IndusIns Bank MD & CEO: Sumant Kathpalia Established: 1994 Headquarters: Mumbai
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