Federal Bank has launched a RuPay smart key chain called ‘Flash Pay’ for contactless NCMC (National Common Mobility Card) payments at enabled metro stations and PoS terminals.
Customers can make payments up to ₹5,000 without a PIN, whereas those over ₹5,000 will require PIN authentication. The per day limit at any PoS terminal has been capped at ₹1 lakh.
‘Flash Pay’ allows users to make secure payments with just a tap, eliminating the need for physical cards or cash, the bank said in a release.
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“We are thrilled to partner with NPCI to introduce the RuPay Smart Key chain – Flash Pay, offering users not just convenience but also a fortified sense of protection in every digital transaction they make,” said Shalini Warrier, Executive Director at Federal Bank.
Through the ‘Flash Pay’ device, users can can make payments at millions of merchants, with built-in security features such as tokenisation and encryption to ensure that transactions are safe and secure.