Bank of Baroda (BoB) has launched a solution for digital banking payments, named bob World Wave. Wearable technology is seeing tremendous interest across the globe and lenders are using this opportunity to adopt a more convenient and cashless digital payment system. This is an innovative solution, intended to perfectly deliver preventive health actions as well as easier payment transactions.
Bank’s on-the-go wearable payment solution, bob World Wave is designed to ensure convenient and seamless digital payments by our customers. It is anticipated that 10% of the small ticket payments will be made via wearable devices in the next two years.”
bob World Wave: Core features
- The bob World Wave wearable device will allow customers to monitor their Sp02, body temperature, heart rate and blood pressure, the bank said in a press statement.
- With bob World Wave, the Bank is providing an exclusive 3-months free wellness package along with a personal health coach, doctor teleconsultation and interactive video coaching.
- The bank said the device will provide contactless payments of up to Rs.5000 in all NFC-enabled PoS devices. Customers can do contactless payments above Rs. 5000 using a PIN.
- The Bank will also provide a dummy plastic card (with the same card number printed as that of the wearable device along with expiry date and CVV) to enable customers to do e-commerce transactions at ease.
Important takeaways for all competitive exams:
- Bank Of Baroda Headquarters: Vadodara, Gujarat, India;
- Bank Of Baroda Chairman: Hasmukh Adhia;
- Bank Of Baroda MD & CEO: Sanjiv Chadha.