Customers of the bank will be able to tokenize their credit and debit cards through the Indus PayWear app, and these tokens may then be put to wearables like stickers, watch clasps, and rings to enable contactless payments.

According to Tappy Technologies' chief operating officer Suboor Ahmed, "customers can now easily convert their physical cards into digital form through the Indus PayWear app by leveraging Tappy's Tokenization solution."

Ahmed continues, "Tokenization will enhance security and create a more 'convenient payment experience for users'" with IndusInd's PayWear devices, which are powered by Thales' Secure Element Chip.

With this action, IndusInd is advancing its digital innovation strategy. Earlier this year, the bank formed a strategic alliance with Florida-based fintech Viamericas Corporation with the goal of easing digital transfers from the US to India, with a focus on serving Indian Americans living in the US.