IDFC FIRST Bank to launch SafePay - contactless card payments on phone
Debit card embedded in IDFC FIRST Bank Mobile App
Mumbai: IDFC FIRST Bank is set to launch SafePay, a digital facility that allows contactless debit card payments by simply waving one’s smartphone against a Near Field Communication (NFC)-enabled POS terminal.
SafePay embeds Near Field Communication (NFC) technology in the IDFC FIRST Mobile App to enable secure payments using a debit card issued by the Bank. A social distancing-friendly way to pay, SafePay completely does away with the need to hand over the card to a merchant or even carry it in the wallet.
Users can simply wave, pay and go, making the payment process not only touch-free, but also faster, simpler and safer.
The first such facility to be made available in an integrated mobile banking app, the SafePay feature has been tested successfully and certified by Visa. It will be available to users on the Bank’s mobile app in the next one week.
Amit Kumar, Head – Retail Liabilities, IDFC FIRST Bank, said, “In a wireless world, the way people want to pay is changing. So far, convenience has been driving the adoption of digital payments. Now, the pandemic has quickened this pace. We see the tap-to-pay technology as significant in this digital play.”
“SafePay makes the payment experience fast and frictionless. For a cardholder, it does away with the need for a physical debit card, and thereby, eliminates concerns about loss of cards. It is the easiest way to check-out of a store in seconds,” he added.
Arvind Ronta, Head – Products, India and South Asia, Visa said, “As consumers make a preference shift to digital, payment providers should be able to service any payment need, whether through physical cards or the near ubiquitous smartphone. And to meet such needs, we are delighted to enable tokenized tap to pay transactions for IDFC FIRST Bank customers.