IDFC First Bank is launching Safepay, a digital app that permits contactless debit card cost by waving a smartphone towards a Close to Area Communication-enabled POS terminal.
SafePay embeds NFC know-how within the IDFC First Cellular App to allow safe funds through the use of a debit card issued by the bank, in response to a LiveMint report.
To activate, customers hyperlink their IDFC debit card to the built-in cellular banking app. The app has already been examined efficiently and has been licensed by Visa.
As soon as activated, customers could make funds at service provider areas by unlocking the telephone and waving it towards an NFC-enabled POS terminal. There isn’t any must login to the cellular app for each transaction or deliver out the debit card.
“SafePay makes the cost expertise quick and frictionless. For a cardholder, it does away with the necessity for a bodily debit card, and thereby, eliminates considerations about lack of playing cards. It’s the best solution to check-out of a retailer in seconds,” Amit Kumar, head, retail liabilities, IDFC First Bank, advised LiveMint.