- What is Contactless?
Fumbling for cash or waiting to sign a receipt can be a hassle. With Contactless, making purchases is whole lot easier. To pay, simply place your card over the Contactless reader and you are good to go in no time.
Your Contactless card never leaves your hand, so you have even more peace of mind.
Continue to enjoy the many benefits of your card on top of the latest Contactless payment technology. Your card may still be inserted or swiped at card terminals for payment like a regular card.
- How does it work?
- Step 1 Look for the Contactless symbol at point of purchase.
- Step 2 To pay, place your card over the reader at close range (less than 4 cm from where the Contactless logo appears).
- Step 3 Once the reader confirms that your transaction is approved you’re ready to go! No signature or PIN required below INR 2,000.
- Where can you use Contactless?
Look for the Contactless ripple mark on your credit card as well as the terminal at the store. This is not restricted to Contactless enabled terminals in India and can be used globally
Is this payment mode secure?
Yes, this payment mode is very secure. The technology rides on Radio Frequency (RF) similar to an RFID tag, but with more secure microprocessors which have the ability to perform cryptographic processing. The encryption technology used to send the transaction message is the same as the present chip+PIN encryption. The maximum transaction value that can be processed by tap-only (without a PIN) is restricted to INR 2,000, hence limiting your risk. The Reserve Bank of India, vide its circular has relaxed the requirement of Additional Factor of Authentication (AFA) in case of small value card present transactions using Near Field Communication (NFC) Contactless technology, subject to adherence to EMV standards.
- What happens if the terminal is not Contactless enabled?
Your card can still function as a regular card for Chip+PIN transaction or swipe transactions.
- Can my transaction get triggered if I walk past the device?
No, the Contactless system is designed to give the cardholder control. The vendor at the terminal needs to enter the purchase amount for approval and the card needs to be held in close proximity of the terminal for the transaction to occur. Also, terminals can only process one payment at a time. Each Contactless transaction includes a unique code that changes with each purchase, which can only be used once and can only be generated by the chip in the original Contactless card, preventing a counterfeit card from being produced from the intercepted card security details. In the unlikely event of fraud, you must notify us immediately or as soon as reasonably possible of any unauthorised card use or any suspicious activities.
- What is the transaction limit that is set?
The maximum transaction amount that can be processed with Contactless is INR 2,000, which is the cap set by the RBI. For transactions over INR 2,000 you will be prompted to do a dip and enter your PIN.
- Is this transaction limit valid globally?
No, the transaction limits globally are set based on the local market consumption pattern and varies by country. The limit depends on the location where the Contactless transaction is initiated. The INR 2,000 limit is valid for transaction initiated at Contactless terminals in India.