India-based Axis Bank has released its new Contactless Secure+ debit card for regular savings account holders to offer access to a larger customer base with contactless technology.
Launched on the Visa payWave platform, the card will enable the bank’s customers to conveniently ‘Just Wave to Pay’ at NFC-enabled point of sale (PoS) terminals. Additionally, the offering can be used as a normal debit card at any POS terminal.
Featuring a microchip and an antenna, Axis Bank’s Contactless Secure+ cards allow ‘contactless’ communication with a reader at the checkout.
After the merchant enters the purchase amount on the contactless PoS terminal, the customer simply has to wave the card on the terminal and the payment is processed wirelessly.
Upon completion of the transaction, the customer will receive alerts through SMS and email.
The contactless debit cardholders will not be required to enter a pin or sign transaction receipts for transactions up to INR2,000 ($29.94).
The new debit card has a total control platform which enables users to modify usage limits, choose between domestic or international usage, switch the card on or off and even replace the card.
Axis Bank senior vice president and head of cards and payments business Sangram Singh said: “We are happy to present our new Secure+ Contactless card proposition which will enable our customers to transact faster, while continuing to provide a high level of security.
“Our focus has been to utilize the latest technology and innovations, like NFC, to enhance value for existing propositions and drive deeper engagement with our customers.”