Kotak - GOQii Smart Vital Plus Smartwatch Launched Across India

* Powered by RuPay On-The-Go, the smartwatch enables contactless payments upto INR 5000 without PIN

Kotak Mahindra Bank Ltd (“KMBL” / “Kotak”) has teamed up with GOQii to launch the Kotak - GOQii Smart Vital Plus smartwatch, revolutionizing the way customers make payments. Priced at INR 3499, this innovative wearable device combines contactless payments with health monitoring features. Powered by RuPay On-The-Go, the smartwatch enables seamless transactions up to INR 5000 without requiring a PIN.

Launching the product, Rohit Bhasin, Head – Retail Liabilities Product & Chief Marketing Officer, Kotak Mahindra Bank said, “With the rise of digital payments, customers seek fast and cashless payments for frequent, low-value transactions.  The Kotak – GOQii Smart Vital Plus smartwatch eliminates the need for cash, cards, or smartphones, enabling secure and seamless banking on the go.”

The Kotak – GOQii Smart Vital Plus allows users to track blood pressure, body temperature, and SpO2 levels directly from their wrist. Additionally, its user-friendly interface ensures easy access to payments. Customers can seamlessly sign in with their Kotak accounts and enable contactless payments on the device, which provides the same level of safety and security as traditional contactless cards and mobile devices.

Vishal Gondal, Founder & CEO, GOQii, said, “Health is wealth is a timeless adage. At GOQii, we have always believed in the importance of preventive healthcare and maintaining a healthy lifestyle. Partnering with Kotak Mahindra Bank to offer customers contactless payments integrated with GOQii’s advanced health ecosystem is a step towards making this a reality. This integration is crucial, as it enhances convenience, promotes health and safety, ensures secure transactions, and aligns with the growing trend of technological integration in daily life. This functionality supports the vision of a seamless, healthy, and efficient lifestyle, which is particularly crucial in today's fast-paced world”.

Rajeeth Pillai, Chief Relationship Management, NPCI said, "We are happy with the launch of Smart Vital Plus smartwatch for contactless payments on NPCI’s innovative RuPay On-The-Go range. This collaboration empowers users to carry out their day-to-day transactions conveniently and securely while on-the-go. Innovative form factors for payment solutions are redefining the payments ecosystem, offering an enhanced user experience, and making transactions swift and seamless. With the acceptance infrastructure growing rapidly, the demand for contactless payment solutions is poised to rise with tech-savvy consumers.”

Kotak Bank customers can purchase the smartwatch through the bank’s mobile app or website. Non-Kotak customers will need to open a Kotak account to avail this facility.

About Kotak Mahindra Bank Limited

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd (KMBL). Kotak Mahindra Group (Group) offers a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking, mutual funds, life and general insurance and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. Kotak Mahindra Group has a global presence through its subsidiaries in UK, USA, Gulf Region, Singapore and Mauritius with offices in London, New York, Dubai, Abu Dhabi, Singapore and Mauritius respectively. As on 30 June 2024, Kotak Mahindra Bank Ltd has a national footprint of 1,965 branches and 3,279 ATMs (incl. cash recyclers), and branches in GIFT City and DIFC (Dubai).For more information, please visit the company’s website at https://www.kotak.com/.

About GOQii 

Founded in 2014 by serial entrepreneur and gaming guru, Vishal Gondal, GOQii is empowering consumers globally to lead healthier and better lives. GOQii’s smart-tech- enabled healthcare platform brings together the entire preventive healthcare ecosystem. Its Smart Health Ecosystem integrates tools for real-time personalized coaching, an explosive high-growth health e-commerce store, scheduling health check-ups, a health locker, and a unique ‘GOQii Cash’ program where healthy behavior is rewarded with cash discounts and insurance discounts based on health management data. Given the state of ‘Sickcare’ delivery infrastructure globally, the company strongly believes that preventive healthcare is the only viable, long-term, mass-market solution. As one of the official partners of the ‘Fit India Movement’ GOQii is a strong supporter of Prime Minister Mr. Narendra Modi’s vision of making 130 crore Indians fit and healthy. GOQii counts marquee investors like Animoca Brands, Mitsui, Megadelta, DSG Consumer Partners, Galaxy Digital, Denlow Investment Trust, Edelweiss, Cheetah Mobile, GWC, Mr. Ratan Tata, and Mr. Vijay Shekhar Sharma.  Modality, one of the leading GP chains in the UK, is also an investor in GOQii as well as the JV partner for its UK roll-out.

About NPCI:

National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), Aadhaar Enabled Payment System (AePS), National Electronic Toll Collection (NETC) and Bharat BillPay.

NPCI is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payment solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.

For more information, visit: https://www.npci.org.in/