SBI is now selling payment keychains: Here's how they work
SBI is making payments a bit more fun and convenient with new wearable devices—think keychains, NFC stickers, and silicon bands that let you pay just by tapping.
All use NFC tech for quick, contactless transactions.
The keychain costs ₹399 plus taxes and is part of SBI's push to keep debit cards relevant as everyone moves to UPI.
Each transaction is capped at ₹5,000
These gadgets use tokenization technology to keep your payments safe.
Each transaction is capped at ₹5,000.
SBI plans to roll out millions of these wearables alongside regular debit cards over the next three years.
Other banks are also exploring wearable payments
With UPI 3.0 on the horizon—bringing support for IoT-based payments—wearable tech like this could become pretty common in India soon.
SBI isn't alone: Axis Bank has launched NFC-enabled rings and other wearables, while Kotak Mahindra has also introduced its own wearable payment solutions for tap-and-go payments.