IDFC First Bank is about to launch ‘Safepay’ facility. In this digital facility, the debit card will remain to add in the mobile app of IDFC First Bank. Customers can pay by tapping/waving their smartphone at Near Field Communication (NFC) enabled point of sale (POS) terminal without contacting them. Customers will neither have to keep the card physically with them nor will it have to be handed over to the merchant (shopkeeper) at the time of purchase.
This not only makes the transaction process contactless but also makes it fast, secure and simple. Up to Rs 2,000 per transaction can be paid through SafePay and its daily limit is up to Rs 20,000. Through this, everyday shopping can be simplified. The bank said in a statement that this is the first such technology, which is being combined with the mobile app. SafePay features have been successfully tested and recognized by Visa. In the next week, it will be available to customers through the bank’s mobile app.
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How to take advantage?
To turn on SafePay, customers have to once link their IDFC First Bank Debit Card with the mobile app. Once activated, customers can rotate and pay after unlocking their phone at the merchant’s valid NFC POS terminal. Through this, the encrypted card information is transmitted wirelessly to the terminal. Debit cards can also be deleted from the app if needed. To make a payment, NFC valid smartphone has to be rotated at the POS terminal within 30 seconds of unlocking. This facility is available to savings account holders residing in India who have Visa Card and IDFC First mobile app on NFC enabled Android devices on OS 5 and above.
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Amit Kamar, Head of Retail Liability of IDFC First Bank said, “In the wireless world people want to change the mode of payment. The epidemic has accelerated the adoption of digital payments. In the digital world, we see the role of NFC technology becoming particularly important.
The experience of payment through SafePay becomes better and less resistance. The need for the cardholder to keep the card physically with him is over and eventually, the worry of losing the card also ends. Customers can exit stores by paying in a few moments. ”
Arvind Ronta, Visa’s India and South Asian product head, said, “As customers are prioritizing digital payments, payment providers should also be able to meet their needs, whether through a physical card or Then from a smartphone. To meet such needs, we are happy that we are launching tap-to-pay transactions for the customers of IDFC First Bank.
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Source: www.financialexpress.com
