Now banks are giving new types of devices like debit cards, which will work as debit cards. You can wear these devices, add them to your watch and create a keychain for your keys.
You must have seen that after the introduction of online banking, there has been a lot of change in the payment option. Earlier the payment was done through debit card or credit card and after that now the work of debit card can be done from the phone itself. Even now you can withdraw money from ATM through phone without card. But, now transactions can be done without both of them and there will be new ways with ‘debit card’.
Actually, now banks are giving new types of devices like debit cards, which will work as debit cards. You can wear these devices, add them to your watch and create a keychain for your keys. The special thing is that these devices, which look like a band, work like a debit card and you can pay with it like a contactless card. In such a situation, know how you can get it and how it will work…
Which bank is offering this device?
These three types of special devices are being given by Axis Bank. If you have a bank account with Axis Bank then you can get this.
What is this device?
These devices are named Wear N Pay in the bank. These devices can be used through contactless cards being used with debit cards. It can be worn easily, after which you will not need a debit card for payment and you will be able to pay from this device. Right now three types of devices are available, in which a wristband means a wrist strap, a key ring and a loop means a small device that binds on the watch.
How much will the fee cost?
To get this device, you will have to pay a fee of Rs 750 and GST and apart from this there is also an annual fee of Rs 500. Also, you can do transactions up to Rs 1 lakh in this and you can do transactions up to Rs 5000 every day.
What will happen to the debit card?
Even after taking this device, you can also use a debit card. Along with this, you also get cashback on its use and get money back within 60 days. Because of this also people are liking it a lot.