New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    What is the main purpose of the Indus PayWear introduced

    by IndusInd Bank?
    A Mobile banking services Correct Answer Incorrect Answer
    B Wearable fitness tracker Correct Answer Incorrect Answer
    C Tokenizable wearable for debit and credit cards Correct Answer Incorrect Answer
    D Augmented reality glasses for banking Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    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

    Practice Next

    Relevant for Exams: