The First Multi-Currency Contactless Card service has been launched by Axis Bank in India [ Current Affairs ]

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About Axis Bank: Axis Bank is the third largest public sector bank in India. It provides financial services to customer segments covering Large and Mid - Sized Corporates, MSME (Micro, Small and Medium Enterprise) Agriculture and Retail Businesses.

  • Its registered office at Ahmedabad.

About launching:

  • Axis Bank has launched the first Contactless Debit, Credit and Multi - Currency Forex Card in association with VISA pay Wave in the country.
  • Axis Bank will offer a contactless debit or credit cards to its 1.7 million premium customers which also enables withdrawal of 15 currencies via Multi - Currency Forex facility.

About working of Axis Bank’s Contactless Card:

  • Axis Bank Contactless cards contain a chip and an antenna based on radio frequency that is unbroken, faster and trouble free payments.
  • For payment wirelessly and in a secure manner the customer has to enter the purchase amount in the contactless terminal and then he / she has to tap the card on the terminal to complete his / her.
  • The bank has introduced this card in line with RBI’s guidelines of promoting PIN - less small ticket transactions and to provide service to its customers with globally.

- Published on: August 18, 2015