IndusInd Bank rises on launching contactless payments wearables `Indus PayWear`
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IndusInd Bank is currently trading at Rs. 1546.00, up by 5.80 points or 0.38% from its previous closing of Rs. 1540.20 on the BSE.
The scrip opened at Rs. 1549.95 and has touched a high and low of Rs. 1555.60 and Rs. 1529.00 respectively. So far 10372 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1694.35 on 15-Jan-2024 and a 52 week low of Rs. 990.25 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1571.75 and Rs. 1529.00 respectively. The current market cap of the company is Rs. 119560.11 crore.
The promoters holding in the company stood at 16.45%, while Institutions and Non-Institutions held 69.04% and 14.51% respectively.
IndusInd Bank has launched its contactless payments wearables, 'Indus PayWear,' India's first All-in-One tokenizable wearables for both debit and credit cards exclusively on Mastercard, with the offering to be extended to other card networks shortly.
Indus PayWear is all set to revolutionize the payment experience by allowing users to effortlessly tokenize their IndusInd Bank credit or debit card onto a chip-enabled wearable device. This will facilitate swift and secure tap-and-pay transactions at any contactless Point-of-Sale (PoS) terminal across the globe, eliminating the need for a physical card or even a payment app for purchases. The three versatile wearables, i.e. ring, watch clasp, and stickers, cater to diverse preferences of customers, with an affordable price ranging from Rs 499 to Rs 2999.
Empowered by a dedicated mobile application, Indus PayWear enables seamless DIY setup of the cards on the wearable by the customer. The Indus PayWear mobile app allows the customer to easily switch between cards, thereby making it a truly ‘All-in-One’ wearable. In addition, the app provides transaction monitoring and efficient management/blocking of the wearable device for enhanced security. Security is paramount in the design of IndusPayWear, utilizing advanced tokenization technology that replaces actual card details with unique 'tokens’ to bolster the safety and security of every transaction conducted through the wearable.
IndusInd Bank is one of the fastest-growing banks in the banking sector in India.
