Axis Bank Ltd.

Axis Bank, India’s third largest private sector bank, will enable 50,000 point of sale terminals at merchants for NFC based card payment acceptance. This will facilitate significant usage of contactless NFC based cards issued by all banks. The Bank also announced the start of issuance of NFC based EMV Chip cards on both credit and debit cards.

Over 60% of transactions on Credit and Debit cards today are below the threshold of Rs 2,000 and this is likely to increase with the new guidelines. The bank, which is also one of the top 5 issuers of credit and debit cards in the country will rollout NFC enabled Credit and Debit cards immediately and help build NFC based card acceptance in the country

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses. The Bank has a large footprint of 2402 domestic branches (including extension counters) and 12,922 ATMs spread across the country as on March 31, 2014.