City Union Bank launches ‘RuPay On-the-Go’, a contactless solution, in collaboration with NPCI
City Union Bank(CUB) in collaboration with National Payments Corporation of India (NPCI) and its manufacturing partner Seshaasai announced the launch of RuPay On-the-Go contactless wearable keychain for its debit card customers. The announcement was made by Ashwini Vaishnaw, Union Minister for Railways, Communications, Electronics & Information Technology, at Azadi Ka Digital Mahotsav in New Delhi. CUB is launching this payment mode to enable customers to make payments on the go.
The keychain supports fast and convenient payments, with users simply having to bring their keychain close to the retailer's PoS. The solution allows the bank's customers to carry payment cards on their keychains, making for fast and convenient payments upto Rs 5,000 in all Rupay enabled Point of Sale devices (PoS) without entering a PIN. Customers would be required to hold the keychain in front of the PoS devices during payment similar to tapping the card on PoS. For payments above Rs 5,000, customers need to tap, followed by their PIN. Currently, the keychain will be linked to the operative account of the customers. However, as part of the second phase of the launch, CUB is planning to integrate the wearables with prepaid/credit cards to serve non-CUB customers as well.
Dr N Kamakodi, MD & CEO of CUB expressed, “City Union Bank is delighted to associate with NPCI to launch our ‘Pay on the Go’ Key Chain solution. This contactless wearable keychain will be part of the daily life style and enable customers to tap and make cashless payments securely. This would increase digital payment behaviour among customers, especially younger generation and students which enables faster check out and less waiting in queue with features to set the spend limit, enable/disable on the usage through Netbanking and CUB’s ‘All in one Mobile APP’.”
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