Private sector lender Axis Bank has launched Contactless Secure + Debit Card for regular savings account customers, to provide access to a larger customer base with contactless technology.
The card, launched on the Visa payWave platform, will enable Axis Bank's customers to conveniently 'Just Wave to Pay' at NFC-enabled point of sale (POS) terminals and also use the card as a normal debit card at any POS terminal.
At present, approximately 40% of the NFC-enabled point of sale (POS) have been deployed by Axis Bank, the bank said in a statement.
"Our Secure+ Contactless card proposition will enable our customers to transact faster, while continuing to provide a high level of security. Our focus has been to utilise the latest technology and innovations, like NFC, to enhance value for existing propositions and drive deeper engagement with our customers," said Sangram Singh, head, Cards & Payments Business, Axis Bank.
Axis Bank's Contactless Secure+ cards have an embedded microchip and an antenna (based on radio frequency) enabling "contactless" communication with a reader at the checkout. It enables cardholders to make faster payments in a convenient and secure manner. Once the merchant enters the purchase amount on the contactless PoS terminal, the customer simply has to wave the card on the terminal and the payment is processed wirelessly.
Cardholders will not be required to enter a pin or sign transaction receipts, for transactions upto Rs 2,000.