Bank of Baroda (BoB) has launched a wearable payment solution called “bob World Wave”

Key Points

• Bob World Wave was launched for digital banking payments.
• This technology is witnessing the rise of tremendous interest worldwide and lenders are using this opportunity for adopting more convenient and cashless digital payments systems.
• This innovative solution seeks to perfectly deliver preventive health actions and easier payment transactions.

Who has developed this technology?

To develop the “bob world wave”, Bank of Baroda partnered with NPCI. It was developed by leveraging the existing NFC based technology.

Significance of the solution

• Bob world wave is a “Bank’s on the go” wearable payment solution.
• It has been designed to ensure seamless and convenient digital payments for customers.
• It is expected that 10% of the small ticket payments will be done using wearable devices in next two years.
• This technology will empower customer for carrying their day-to-day transactions securely and seamlessly.