Adversitement
Federal Bank Introduces 'Flash Pay': A Contactless Payment Solution for NCMC Transactions
Published On : 2024-03-23T10:56:09+0530 [ IST ] |
Author : Mayur_Tembhare
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India :
Federal Bank has unveiled 'Flash Pay,' a cutting-edge RuPay smart key chain in partnership with NPCI, designed to facilitate contactless payments for NCMC transactions at enabled metro stations and Point of Sale (PoS) terminals.
This innovative payment solution empowers customers to conduct seamless transactions with ease and security. With 'Flash Pay,' users can make hassle-free payments up to ₹5,000 without requiring a PIN. For transactions exceeding this threshold, PIN authentication is mandatory. Additionally, a daily limit of ₹1 lakh has been imposed for transactions at any PoS terminal, ensuring prudent usage.
Shalini Warrier, Executive Director at Federal Bank, expressed enthusiasm about the collaboration with NPCI, highlighting the significance of introducing 'Flash Pay' to the market. She emphasized the solution's dual benefits of convenience and security, enabling users to navigate digital transactions confidently.
'Flash Pay' leverages advanced security features such as tokenization and encryption to safeguard transactions against unauthorized access and fraud. By incorporating these robust security measures, Federal Bank aims to instill a sense of trust and reliability among users, ensuring the integrity of every transaction.
The versatility of 'Flash Pay' extends beyond metro stations, allowing users to make payments at millions of merchants nationwide. The device's compact design and user-friendly interface make it a convenient alternative to traditional payment methods, eliminating the need for physical cards or cash.
In today's fast-paced digital landscape, the launch of 'Flash Pay' underscores Federal Bank's commitment to innovation and customer-centric solutions. By harnessing the power of technology, the bank aims to enhance the payment experience for customers while upholding the highest standards of security and integrity.
Source : Fedral Bank
Tags : NPCI , NCMC , metro stations , security features , contactless payments , PoS terminals , RuPay , encryption , Federal Bank , Flash Pay , tokenization ,
Summary : Federal Bank has collaborated with NPCI to launch 'Flash Pay,' a RuPay smart key chain enabling contactless payments for NCMC (National Common Mobility Card) transactions at metro stations and PoS terminals. With 'Flash Pay,' customers can make secure payments up to ₹5,000 without a PIN, and transactions exceeding this limit require PIN authentication. The device also offers enhanced security features such as tokenization and encryption, ensuring the safety of transactions. Shalini Warrier, Executive Director at Federal Bank, emphasized the convenience and security offered by 'Flash Pay,' which eliminates the need for physical cards or cash.
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