ICICI Bank launches Tap-n-Pay, a near-field communications-enabled payment service

India’s largest private sector lender Industrial Credit and Investment Corporation of India (ICICI) Bank has launched a payment service Tap-n-Pay. It was launched by bank in collaboration with Tech Mahindra.

This payment service is based on the near-field communications (NFC) technology which will enable its customers make over-the-counter payments without using cash.

Key features of Tap n Pay

  • NFC technology will allow users to tap NFC enabled tag or mobile phone at the merchant’s point-of-sale device to make payments.
  • It is a prepaid account which will be available to customers of any bank by simply registering for it and transferring money online from any bank account.
  • ICICI Bank customers can also transfer money to the Tap-n-Pay account through an SMS.
  • To start with this service bank has offered it at large campuses of corporate offices.

ICICI Bank and Tech Mahindra also are planning to extend this service across the country.

Advertisement

Categories: Banking Current Affairs 2017Business & Economy Current Affairs 2017Science and Technology Current Affairs - 2017

Tags:

advertisement

Comments