New Delhi, Mar 19 (IANS): Airtel Payments Bank on Tuesday said that it collaborated with smartwatch brand Noise and global technology company in the payments space Mastercard to launch the new smartwatch to redefine and make contactless payments accessible to a larger consumer base.

Users can purchase the new smartwatch at Rs 2,999. Customers who have a savings account with Airtel Payments Bank can buy this watch from the company's Thanks app.

Customers who are new to the bank can order the smartwatch by opening a bank account digitally on the Airtel Thanks app.

"By integrating contactless payment capabilities into wearable technology, we empower customers with greater freedom and flexibility in their daily transactions. This smartwatch is the first wearable device the bank has launched," Ganesh Ananthanarayanan, COO, Airtel Payments Bank, said in a statement.

Users can activate the watch by linking it to their savings bank account via the Thanks app. Once linked, they can immediately commence making payments by simply tapping the watch on Point of Sale (POS) machines with the Tap N Pay facility.

A customer would be able to make payments between Rs 1 to Rs 25,000 per day using the smartwatch, the company said.

"Through the Tap and Pay functionality powered by NFC chips on the Mastercard network, we aim to simplify the payment process and enhance convenience by unlocking a new way for users to interact with their devices," said Amit Khatri, Co-founder, Noise.

The smartwatch comes equipped with a 1.85-inch square dial and Bluetooth calling capability and boasts a battery life of up to 10 days, according to the company.