The fifth largest watch brand in the world Titan has partnered with State Bank of India (SBI) to introduce the country’s first smart payment watch.

Titan and SBI are launching a range of stylish watches with contactless payment functionality for the first time in India. With this launch, SBI account holders can tap their Titan Pay watch on contactless payment PoS machines without swiping or inserting their SBI bank card.

Payments of up to INR2000 can be made without entering a pin. A secure certified near-field communication (NFC) chip embedded in the watch strap by Tappy Technologies enables all the functionalities of a standard contactless SBI debit card.

The payment feature on these watches will be accessible on over two million contactless Mastercard-enabled PoS machines in the country. This collection of watches includes three styles for men and two for women and are priced between INR2995 and INR5995.

“Titan has always been at the pinnacle of design and innovation,” said CK Venkataraman, managing director of Titan. “We have always launched products to cater to the changing needs of our consumers. SBI is the perfect partner to introduce a payment solution for the new normal that is fast, secure and seamless. This product will not only satisfy the consumer’s banking needs but will also serve today’s evolving consumers with its classic and sophisticated designs.”

Titan is a joint venture between the Tamil Nadu Industrial Development Corporation (Tidco) and Tata Group, and commenced operations in 1987 under the name Titan Watches.

“We are glad to be a part of the launch of this unique proposition in the contactless payments space by Titan,” said Rajnish Kumar, chairman of SBI. “It gives me immense pleasure to join hands with the world’s fifth largest watch manufacturer to provide a smart and innovative shopping solution for our Yono customers with Titan payment watches. We believe this innovative offering will redefine the shopping experience for our customers with tap-and-pay technology. With latest technological advancements, State Bank of India has always been striving towards providing innovative, best-in-class banking services for our customers.”

These watches can address the needs of the new normal by eliminating payment barriers and making transactions quick, contactless, secure and easy for consumers.

SBI is India’s largest commercial bank in terms of assets, deposits, branches, customers and employees. It is also the largest mortgage lender in the country.