![]() ![]() NFC mobile payments are also the fastest way to pay. As opposed to magstripe cards (which are prone to fraud), NFC payments have multiple layers of security involved in the transaction, designed to protect bank details. In addition to EMV chip cards, NFC mobile payments are part of our charge toward more secure, authenticated ways to pay. This type of payment, called a “contactless” or NFC payment, uses near field communication to transmit information from a mobile device to a payments reader. Instead of swiping or dipping credit cards, they’re holding their mobile device over the POS terminal. We are very excited to bring this first-ever innovation to India, in collaboration with Pine Labs.You might have noticed a change in the way people are paying at stores lately. ![]() ‘Tap to Pay’ for UPI has profound implications for high traffic retail outlets, with queue management hassles poised to be greatly reduced, and taking digital payments at POS well beyond cards. Making a statement on development Sajith Sivanandan, Business Head of Google Pay said, “Fintech growth in India is writing the playbook for the world, first with enabling real-time payments with UPI, and further, by innovating with flows that make the transaction time virtually zero. This process is quick and seamless when compared to entering a UPI-linked mobile number or scanning a QR code. This means to complete payment, you have to just tap your smartphone on the POS terminal and authenticate the payment from your phone, using UPI PIN. Note that the feature will only work on NFC-enabled Android smartphones to make payments by using any Pine Labs Android POS terminal across the nation. This new functionality makes paying easier and faster where you just have to tap the phone to pay, which is seen on some credit and debit cards. Google’s payment platform Google Pay has launched the ‘Tap to Pay’ UPI-based payment system in collaboration with Pine Labs. ![]()
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