Federal Bank Introduces Flash Pay: A Revolutionary RuPay Smart Key Chain
| Aspect | Details |
|---|---|
| Initiative | Federal Bank introduces 'Flash Pay' in collaboration with NPCI. |
| Technology | RuPay smart key chain facilitating contactless NCMC payments. |
| Functionality | Tap and pay at metro stations and PoS terminals. |
| Transaction Limit | Up to ₹5,000 without PIN; PIN required for transactions above ₹5,000. |
| Daily Cap | ₹1 lakh at any PoS terminal. |
| Security Features | Tokenization and encryption for secure transactions. |
| Usage | Payments at millions of merchants. |
| Benefits | Simplified payments, enhanced security, versatile usage. |