Axis Bank has tied up with Oberthur Technologies to introduce a new contactless commuter solution in Bengaluru. The solution provides for open loop EMV smart cards that can be used at transport terminals across the city. Axis Bank is the first in the country to investigate the use of contactless cards for commuters and transport users. The cards will be provided by Oberthur Technologies and will have multiple service compartments so that consumer can use the card at multiple chains and methods of transport, including retail, transit, toll and parking costs. The cards will be on the RuPay platform. Sangram Singh, head of Cards and Merchant Acquiring of the bank, said the Axis Bank BMTC smart card program in Bengaluru will lead the way towards implementation of many more open loop EMV contactless payment initiatives in India. This model offers unparalleled convenience of one card for multiple payment needs making this the most preferred option, he added.
