Axis Bank, one of India’s largest private banks, has introduced a new smartwatch with integrated tap-and-pay NFC-enabled payments, aiming to transform wearable payment solutions.

Developed in partnership with Mastercard and Indian wearable brand boAt Lifestyle, the "Wave Fortune" smartwatch allows Axis Bank cardholders to tokenise and store their debit and credit cards on the boAt Crest Pay app. This enables users to make tap-and-pay transactions directly from their wrist.

Designed by boAt, the Crest Pay app combines fitness tracking with contactless payment features. Users can monitor health metrics such as steps, calories, and heart rate while making secure payments.

Powered by Mastercard’s tokenisation technology and supported by TAPPY Technologies’ infrastructure, the smartwatch permits single-step payments of up to ₹5,000 at POS terminals without requiring a card PIN. Axis Bank confirmed that the technology supports cards issued on both Mastercard and Visa networks.

TAPPY Technologies’ infrastructure is certified under the Payment Card Industry Data Security Standard (PCI DSS) and has been approved by Visa and Mastercard as a "One for All" digital wallet solution provider.

Axis Bank stated in a LinkedIn post, "Whether you're grabbing a coffee, shopping on the go, or commuting, Wave Fortune ensures seamless and secure transactions by integrating tap-and-pay NFC-enabled payments."

The smartwatch is currently priced at ₹3,299, with a limited-time offer reducing the cost to ₹2,599. It is available in an Active Black variant on boAt’s official website.

In March, the bank launched near real-time, 24/7 programmable US Dollar (USD) clearing capabilities for its business customers in India through a partnership with JP Morgan.

By collaborating with Kinexys Digital Payments (KDP), JP Morgan’s global provider of blockchain-based financial infrastructure, Axis Bank’s customers can now access round-the-clock cross-border payment services.

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