Back in April, Diamond Trust Bank (DTB) launched its contactless payment wearables in Kenya in partnership with Mastercard. These allow you to complete transactions without your phone or card.
The bank’s NFC-enabled wearable devices let you make payments using accessories like rings and wristbands. There are no extra transaction fees and you only pay the standard card charges.
Here’s everything you need to know about the DTB wearables.
What Are DTB NFC Wearables?
DTB NFC wearables are payment-enabled accessories including rings and wristbands. They allow you to pay just by tapping on a contactless payment terminal.
They are powered by Mastercard and Tappy Pay and use tokenization technology that helps keep your transactions secure.
The wearable uses a secure digital token instead of storing your actual card details.This guarantees that your financial data is protected even if the device is lost.
How NFC Wearable Payments Work
The main question you may have is, how does this technology work? At the centre of these devices is Near Field Communication (NFC). This is a short-range wireless technology that allows devices to communicate when placed close together.
You start by linking your DTB debit card to the wearable. This process takes a few minutes and can be done at any DTB bank branch.
After linking your DTB debit card to your wearable, all you will have to do is tap your ring or wristband as you would your card and payment is completed instantly with no phone, no wallet or even no PIN for small transactions.
How to Get Started
To start using a DTB NFC wearable, you will need an active DTB current or savings account, a DTB-issued debit card (eligible for tokenization), the DTB Wearable (ring or wristband) that can be ordered through the DTB Wearable Portal and the Tappy Pay mobile app for setup. The app can be downloaded for free from the Google Play Store or Apple App Store.
You will typically be required to visit a DTB ban branch to complete activation.
Types of DTB Wearables Available
DTB currently offers three options:
- Silicone Wristband – This is a sporty and waterproof band that is ideal for everyday use.
- Ceramic Ring – This is a sleek, durable and scratch-resistant ring.
- Ceroxy Ring – This is for those who want a premium finish with enhanced durability
As for pricing, the silicone band is available for KES 1,200, the Ceroxy Ring goes for KES 2,400 and the Ceramic Ring is available for KES 2,900.
Benefits of the DTB Wearables
As these wearables allow you to complete transactions without using your phone or card, they are convenient allowing you to tap and go anywhere you see the contactless symbol whether it is in a supermarket, restaurant or fuel station.
The wearables allow you to complete your transactions in seconds. This is idea for busy environments sich as supermarkets.
Tokenization guarantees that your real card details and kept safe and never exposed. This should give you the peace of mind to use the wearable without any worries.
DTB is also positioning the wearables as lifestyle accessories and not just fintech solutions.
Through the Tappy Pay app, you can also easily track all payments you make with the wearable and see the details of each payment. The wearable can be locked temporarily using the Tappy app when it is not in use.
What Happens If You Lose Your Wearable?
In the unfortunate event that you lose your wearable, you can use the Tappy Pay app to temporarily suspend the wearable or even permanently deactivate it. This give you full control over your wearable and funds.
Are NFC Wearables Worth It?
The answer to this question depends entirely on your lifestyle. If you are someone who prefers minimalism walking around with no wallet or phone. It is also ideal for those who regularly use contactless payments or even those who like trying new fintech products.
Then this is one of the more practical innovations we have seen in Kenya froma tier 1 bank.
With the DTB wearables, the maximum amount per transaction is KES 5,000 while the maximum daily amount is KES 10,000.
DTB’s NFC wearables are part of a broader shift toward ambient payments where transactions happen seamlessly in the background of everyday life. We are already seeing this globally through smartwatches and mobile wallets. DTB is now localizing that experience in a uniquely accessible way for Kenya.
The real question is, Will Kenyan consumers adopt it at scale?
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Also Read: DTB Introduces Flat KES 20 Pesalink Fee on Transactions Above KES 1,000
