Axis Bank Service: Now you can do contact less transactions without removing your card from your wallet. Axis Bank, the third largest private sector bank in the country, has launched a contact-equipped payment device.
New Delhi. Now you can do contact less transactions without removing your card from your wallet. Axis Bank, the third largest private sector bank in the country, has launched a contact-equipped payment device.
The name of this ware payment device of Axis Bank is N-Pay. The bank is the first to introduce a new series of wearable devices, which can be attached to existing accessories or easily worn to make contactless payments on the go.
Axis Bank has partnered with Thales and Tappy Technologies to design and manufacture these products, which are exclusively available on the MasterCard platform. N-Pay systems can be connected in wristbands, key chains or loops, so that payments can be made easily with a POS machine.
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N-Pay band will be able to buy from bank branch
The Ware N-Pay band will be directly linked to the bank account of the customers and will work like a regular debit card. This allows purchase from any merchant that accepts contactless transactions. Where N-Pay devices can be purchased through phone banking or at any Axis Bank branch. Non-customers can also enjoy the Weir en Pay device online through Video KYC or by opening an account at their nearest Axis Bank branch. The contractless wearable is priced at Rs 750.
Where does the N-Pay work?
For transactions up to Rs 5000, make fast and secure payments with just one tap. For this, you can apply by going to phone banking or Axis Bank branch. Under this, the limit of daily purchase for Axis Bank customers will be Rs 1,00,000. No PIN will be required for transactions of 5000 or less. There is no limit for transactions above Rs 5000, but PIN will be mandatory.
What did the bank say?
Axis Bank EVP and Head-Cards and Payments Sanjeev Moghe said that with the increasing number of digital payment users, we see a huge opportunity in the world of contactless payments. Even after the epidemic, looking at social distancing, the continuation of contactless payment will definitely move forward.
We feel that contactless payment is the future of the payments industry in India. In order to increase our share in this market, we have released weare en pay tools for the customers at budget friendly prices. These tools are not only relvent, but they are designed in such a way that they easily provide contactless payment facility in safe mode.
