On September 23, 2020 IDFC First Bank announced that it will launch SafePay, a digital facility. It enables contactless debit card payments by waving a smartphone against a Near Field Communication (NFC)-enabled Point of Sale(POS) terminal. It is the 1st such facility which is made available in an integrated mobile banking app. The SafePay feature has been successfully tested and certified by Visa.
- It allows contactless payments of up to Rs 2,000 per transaction and maximum limit of Rs 20,000 per day.
Note– The launch of safepay is part of the efforts made by the bank to provide the customers with high quality digital experience across its range of products and services.
Key Info about SafePay:
One time Activation– The consumers to enable SafePay need to do a one-time activation by linking their IDFC FIRST Bank debit card to the mobile banking app.
Add or remove debit card to Mobile app– There is a provision to add the debit card to the mobile app and delete it if required.
No login required for each transaction– Users are not required to login to the Bank’s mobile app for each transaction.
Payment– The smartphone enabled with NFC must be waved at the terminal within 30 seconds of unlocking it in order to enable a payment.
Availability– It will be available for Savings Account holders having VISA cards and IDFC FIRST Mobile App on NFC-enabled Android device with OS 5 & above.
Benefit– The payment process can be made touch-free and also in a fast, simple and secure manner.
Recent Related News:
Lakshmi Vilas Bank(LVB) has launched ‘LAKSHMI digiGO’, a contactless digital initiative that will enable customers to open a savings account instantly. This initiative will help people to avail the most required banking services instantly through the website on account of COVID-19 pandemic.
About IDFC First Bank:
IDFC First bank was founded by the merger of Capital First and IDFC Bank in December 2018.
Managing Director(MD) and Chief Executive Officer(CEO)– V. Vaidyanathan(1st MD and CEO of the bank)
HeadQuarters– Mumbai, Maharashtra