Axis Bank launched the First Multi-Currency Contactless Card service in India

India’s third largest private sector lender, Axis Bank has launched the first Contactless Debit, Credit and Multi-Currency Forex Card in association with VISA payWave in the country. Axis Bank will offer a contactless debit/credit cards to its 1.7 million premium customers which also enables withdrawal of 15 currencies via Multi-Currency Forex facility. To facilitate contactless cards operations bank will upgrade 50,000, of its point of sale (PoS) machines across the country.

 How does Axix Bank’s Contactless Card works? 
Axis Bank Contactless cards contain a chip and an antenna (based on radio frequency) that facilitates seamless, faster and hassle free payments.The customer has to enter the purchase amount in the contactless PoS terminal and then simply has to tap the card on the terminal to complete his/her payment wirelessly and in a secure manner.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 the global standards.