Axis Bank introduces Instant Credit Cards for pre-approved customers
Posted on: 09/Oct/2018 10:03:44 PM
Axis Bank, the country�s third largest private sector bank, today introduced �Axis Tap & Pay�, a mobile application that will allow its customers to make transactions by just tapping their NFC-enabled android mobile phones on contactless merchant terminals. This feature will be available for all MasterCard and Visa, debit and credit cards issued by Axis Bank. The Bank has leveraged HCE (Host Card Emulation) technology for this feature to make the payment process safer and faster, thereby enhancing the overall customer experience.
In order to use this service, the customer has to download the Axis Tap & Pay app from the Play Store and add the details of Axis Bank credit and debit cards on the application to activate the contactless payment facility. After linking the card/s on the app, the customer can just tap the NFC-enabled mobile phone on contactless POS machines to make the payment without the need of carrying a physical plastic card.
All payments through Axis Tap & Pay are secured as the solution generates a token-card for the transactions, which is separate from the actual debit/credit card number, thereby increasing customer privacy and security. Also, the merchants can benefit from increased transaction volume as well as quicker checkout times and thus reducing queues at cashiers.
Recently, Axis Bank launched Instant Credit Cards for its pre-approved customers wherein they have an option to avail virtual Instant Credit Cards through the Axis Pay, within minutes after authentication. Once the Instant Credit Card is generated it can be linked with Axis Tap & Pay and used at the POS terminals immediately. This will enable customers use instantly issued card not only for ecommerce transactions but also for Point of sale transactions using NFC technology. With this end to end capability, customers can use their Axis Bank Credit Cards during the festive season without having to wait for the physical card.
