Money & Banking

In pact with NPCI, CUB launches ‘On-the-Go’ wearable keychain for debit card customers

Our Bureau | | | Updated on: Dec 07, 2021
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The keychain can be requested through net banking, mobile banking, and at CUB’s branches

City Union Bank (CUB), in collaboration with National Payments Corporation of India (NPCI) and its manufacturing partner Seshaasai, has announced the launch of RuPay On-the-Go contactless wearable keychain for its debit card customers.

Payments on-the-go

Launched by Ashwini Vaishnaw, Union Minister for Railways, Communications, Electronics & Information Technology, on Sunday at New Delhi, CUB is introducing this keychain payment mode to enable customers to make payments on-the-go, according to a statement.

The keychain can be requested through net banking, mobile banking, and at CUB’s branches.

Encourage digital adoption

“This contactless wearable keychain will be part of their daily lifestyle and enable customers to tap and make cashless payments securely. This would increase digital payment behaviour among customers, especially the younger generation and students, by enabling faster check out and less waiting in queue with features to set the spend limit, enable/disable usage through net banking, and CUB’s All-in-One mobile app,” said N Kamakodi, MD & CEO, City Union Bank.

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This On-the-Go solution allows the bank’s customers to carry payment cards on their keychains, making for fast and convenient payments up to ₹5,000 at 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. For payments above ₹5,000, customers need to tap, followed by entering their PIN.

Second phase planned

Currently, the keychain will be linked to the operative account of the customers. However, as a part of the second phase of the launch, CUB is planning to integrate the On-the-Go wearables with prepaid/credit cards to serve non-CUB customers as well.

Published on December 08, 2021

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