Bob World Wave Launched By Bank of Baroda

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A wearable payment solution called “bob World Wave” was launched by the Bank of Baroda.

Highlights:

Bob World Wave was established for digital banking payments as it is witnessing the increase of tremendous interest worldwide.
The lenders use this chance to adopt more convenient and cashless digital payments systems.
This innovative solution seeks to deliver preventive health actions and easier payment transactions perfectly.
NPCI and the Bank of Baroda partnered to develop the “bob world wave”. It had been developed by leveraging the prevailing NFC-based technology.

Significance

Bob world wave may be a “Bank’s on the go” wearable payment solution.
It has been developed to provide seamless and convenient digital payments for patrons.
It is predicted that 10% of the small ticket payments will be done using wearable devices in two years.
This technology will entrust customers for carrying their day-to-day transactions securely and seamlessly.
With the increasing acceptance infrastructure, demand for contactless payment mechanisms is increasing steadily. 
The general consumer sentiment is supporting wearables’ permanence in the payments industry.

Features

bob World Wave wearable solution will allow buyers to watch their blood heat, pulse, Sp02, and vital signs.
Bank of Baroda also supplies an exclusive 3-months free wellness package with the bob World Wave solution. 
Wellness packages will be supplied alongside a personal health coach, interactive video coaching and doctor teleconsultation.
It will provide contactless payments of up to Rs 5000 across all NFC-enabled PoS devices. 
Payment above Rs 5000 is often made utilizing a pin.
Bank of Baroda will also provide a fake plastic card containing an equivalent card number printed like that on the wearable device alongside the expiry date and CVV. 
This card will enable customers to try to do e-commerce transactions easily.

Bank of Baroda 

BOB is India’s fourth nationalized bank and a financial services company.
It works under the Ministry of Finance.

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