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ICICI Bank launches contactless payment solution through Mobile Pay. How to avail?

ICICI Bank today announced the debut of a contactless payment service through its banking app, iMobile Pay, that allows consumers to pay at POS (Point of Sale) devices at merchant outlets by just tapping their phones. Customers using the Bank’s debit and credit cards will benefit from the service because they will no longer need to bring their cards with them while making purchases at retail outlets.

Source – AP7AM

The revolutionary payment solution, which uses Near Field Communications (NFC) technology, allows consumers to generate digital copies of their real ICICI Bank debit and credit cards via the iMobile Pay app. Customers may use their NFC-enabled Android smartphones to make electronic payments at merchant outlets by simply waving their phone near a contactless POS device.

. Customers of the Bank may make cashless purchases using their cellphones instead of cash or debit or credit cards, thanks to this contactless mobile payment option. They think that clients would benefit from the ‘Tap to Pay’ payment system since it enables quick, safe, and secure payments. Furthermore, the solution provides increased security because the customer’s card information is not disclosed during the transaction process and is saved virtually in the Bank’s secure cloud server.

iMobile Pay’s ‘Tap to Pay’ feature is currently available on Visa cards, and it will soon be accessible on Mastercard cards as well. Contactless payments are becoming the go-to way of paying instantly and securely at merchant outlets, today accounting for 1 out of every 2 face-to-face Visa transactions in the Asia Pacific.

To use this service, users must download the latest version of the iMobile Pay app from the Google Play Store and install it on their NFC-enabled smartphones running Android 6 or above. Customers will need to complete a one-time iMobile Pay activation to begin utilising the ‘Tap to Pay’ service, after which they will be able to make safe and easy payments at retail shops.

Customers may make payments up to $5,000 per transaction, according to RBI standards, by just touching or waving their phone near the POS terminal. Customers would be required to input their card PIN as well as wave their phone near the POS device for purchases over Rs. 5,000.

Customers can use the service by following the simple procedures outlined below.

One time activation

  • The user must first log into the iMobile Pay app and then tap the ‘Tap to Pay’ icon on the login screen or in the ‘Shop’ area of the app.
  • After that, the customer must pick registered debit and credit cards to create a digital version, and then accept the terms and conditions by clicking on “I Agree.”
  • Customers may use their ICICI Bank Visa credit and debit cards to generate virtual cards.

Making a payment

  • Log in to the iMobile Pay app and go to the login page or the ‘Shop’ area and tap ‘Tap to Pay.’
  • To make a payment, choose a virtual Visa card and wave or tap your phone near an NFC-enabled POS terminal.
  • The phone displays the notification ‘Payment initiated successfully,’ verifying the transaction.

 

 

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