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IDFC First Bank to introduce contactless payment facility

IDFC First Bank launching a contactless debit card-based payment facility, called SafePay, allowing transactions up to Rs 20,000 per day. Payments using the facility can be made by simply waving one’s smartphone against an NFC-enabled PoS terminal, the bank said in a release. The bank said it is the first such facility to be made available in an integrated mobile banking app. The feature has been tested successfully and certified by Visa and it will be available to users on the bank’s mobile app. Amit Kumar, Head (Retail Liabilities) at the bank, said so far, convenience has been driving the adoption of digital payments. Now, the pandemic has quickened this pace and the bank sees the tap-to-pay technology as significant in this digital play. He also said it does away with the need for a physical debit card, and thereby, eliminates concerns about loss of cards. The facility is set to be available for resident saving account holders having Visa cards and IDFC First mobile app on NFC-enabled Android device with OS 5 and above.


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