IDFC First Bank is launching Safepay, a digital app that allows contactless debit card payment by waving a smartphone against a Near Field Communication-enabled POS terminal.

SafePay embeds NFC technology in the IDFC First Mobile App to enable secure payments by using a debit card issued by the bank, according to a LiveMint report

To activate, consumers link their IDFC debit card to the integrated mobile banking app. The app has already been tested successfully and has been certified by Visa.

Once activated, users can make payments at merchant locations by unlocking the phone and waving it against an NFC-enabled POS terminal. There is no need to login to the mobile app for every transaction or bring out the debit card.

"SafePay makes the payment experience fast and frictionless. For a cardholder, it does away with the need for a physical debit card, and thereby, eliminates concerns about loss of cards. It is the easiest way to check-out of a store in seconds," Amit Kumar, head, retail liabilities, IDFC First Bank, told LiveMint.

Copyright © 2020 Networld Media. All rights reserved., source Industry News