ICICI Bank on 7 January 2015 launched contactless credit cards and debits cards called Coral Contactless Credit Card and Expressions Wave Debit Card respectively.
These cards will enable customers to make electronic payments by waving the cards near a merchant terminal instead of dipping or swiping the cards.
These cards are powered by MasterCard contactless and Visa payWave technologies.
These cards are based on the near-field communication technology that provides customers improved speed to complete a transaction and enhanced security.
The key advantage of these two cards is speed and security. The speed of transactions will add momentum to high value payments and the level of security is higher since the card doesn’t leave the customer during the transaction process.
What: Launched by ICICI bank
When: 7 January 2015