Technology is used best by banks. The internet banking, phone banking, and video banking are the best examples. The latest in this line is Watchbanking introduced by HDFC along with Apple Watch. India has witnessed the overwhelming success of iPad and iPhone but there is not much of popularity stored for Apple Watch. The watch that could not spell its magic on Indian market till date has suddenly been in talks when HDFC decided to offer banking services on this watch.Smart Watches Click Here
The app by HDFC designed specifically for Apple watch will carry out 10 different transactions as of now. These transactions include recharges, bill payments, account summary, and ATM locator. These features are already available on HDFC app designed earlier for iOS.
HDFC has kept the customer convenience very much in mind while designing this app and hence there is no need to load separate app for watch as you can activate watchbanking directly from the phone app loaded on your other Apple device. The app is designed to offer utmost security even while indulging in watchbanking. The watch would just be the projection of bank server and one will have to set up one time security password at the time of setup process. The customer will have unique user id and password for added security.
Bank has also promised to take this tradition further by introducing apps for all wearable devices operating on iOS or Android. Citibank has already launched watchbanking app for Apple Watch earlier and HDFC has followed it wisely. If the trend continues, then you will soon come across watchbanking and other wearable device apps introduced from various banks operating nationally and internationally. This step towards convenience will also raise security concerns amongst the users.