NEWS & ADVICE : CREDIT CARDS
Banks to introduce the contactless payment cards soon
By Ankit Sharma
Nov 27, 2014
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Banks are planning to come with the contactless card soon. The leading banks of the country Kotak Mahindra, ICICI and Axis bank will launch the contactless cards soon. The contactless card are the new mode of payment will eliminate the need of swiping the card.

ICICI bank will be the first one to introduce the contactless card by the next month. The bank will introduce the card in Gurgaon, Mumbai, Hyderabad and Bangalore. Cardholders will simply need to waive off the card. Axis bank stated that bank is exploring regarding the contactless card and the bank launching an NFC-based card in Bangalore, in partnership with Bangalore Metropolitan Transport Corporation. These cards will also eliminate the need of signature, customer will waive the card. The cards can be used only at at a merchant outlet that has a contact-less terminal.


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