RuPay
| March 23, 2024, 5:26 a.m.
Federal Bank Introduces 'Flash Pay': A Contactless Payment Solution for NCMC Transactions
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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