Smartwatch payments made easy: Axis Bank, boAt, and Mastercard launch tap-to-pay wearable

In a push to bring everyday banking to users’ wrists, Axis Bank has teamed up with Indian wearable brand boAt and global payments giant Mastercard to launch contactless payments via the new Wave Fortune smartwatch. The device enables Axis Bank customers to make tap-to-pay transactions using tokenized versions of their debit and credit cards—no PIN required for purchases under ₹5,000.

Wave Fortune, launched at a competitive price point, integrates near-field communication (NFC) with boAt’s Crest Pay app. Mastercard’s tokenization technology—along with backend infrastructure from TAPPY Technologies—ensures security while allowing seamless tap-and-go functionality. The payment credentials are embedded in the watch strap, turning a simple accessory into a mobile wallet.

No wallet, no problem

This collaboration reflects a growing trend in wearable tech: streamlining daily routines by embedding financial tools into personal devices. Users on Mastercard and VISA networks can store their Axis Bank card information and continue to receive all associated benefits while paying directly from their wrist.

The smartwatch is designed not only to enhance convenience but also to make digital payments more accessible for everyday use, from coffee runs to public transport. It's a step toward frictionless transactions that don't require phones or wallets—just a tap of the wrist.

India’s next step toward gesture-based banking

Industry leaders say this launch signals a shift in how people interact with money. “In the near future, payments will be gesture-based,” said Mastercard’s Gautam Aggarwal, emphasizing the role of wearables in evolving consumer behavior. For now, the Wave Fortune offers a glimpse into that future—where banking blends into daily life, one tap at a time.