IDFC First Bank is set to launch contactless debit card-based payment facility, SafePay, next week allowing transactions up to Rs 20,000 per day. The digital facility will allow payments by simply waving one's smartphone against a near field communication (NFC)-enabled PoS terminal.
Users can simply wave, pay and go, making the payment process not only touch-free but also faster, simpler and safer. The bank also claimed it is the first such facility to be made available in an integrated mobile banking app. The feature has been tested successfully and certified by Visa and it will be available to users on the bank's mobile app in the next one week.
IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.
