ICICI Bank on 15 March 2016 announced a new mobile payment solution Touch & Pay. This solution is based on Near Field Communication (NFC) technology and will enable the bank’s customers to make secure contactless payments at retail stores using smartphones.
Features of Touch & Pay
• The feature will be incorporated into the existing Pockets application of the bank.
• Customers can make payment by tapping smart phone at a NFC enabled merchant terminal and make the payment through account linked ICICI Bank Debit/Credit Card.
• To ensure security of the card details, for every payment done at a merchant store using this service, a one-use unique token is created by the Bank's server and will be sent via encryption to the merchant,
• The facility will be available in the last week of March 2016 at more than 60000 merchants across the country.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App
What: Announced by ICICI Bank
When: 15 March 2016
DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.