Federal Bank introduces 'Flash Pay' RuPay smart key chain for secure contactless payments. Details here

livemint.com:

Federal Bank has introduced the innovative RuPay Smart key chain, ‘Flash Pay’, which is the first of its kind in the industry and is enabled with NCMC technology. This smart key chain allows users to make contactless payments at NCMC-enabled metro stations without the need to wait in line to purchase tickets or cards specific to the metro stations. 

Customers can conduct contactless transactions (up to ₹5000) without a PIN and will need PIN authentication for amounts exceeding this limit. The daily transaction limit at any POS terminal is set at ₹1,00,000.

‘Flash Pay’ melds advanced technology with unmatched convenience, providing users with a sleek and compact solution for effortless transactions on the move. With Flash Pay, users can make secure payments with a simple tap, eliminating the necessity for physical cards or cash.

Shalini Warrier, Executive Director, Federal Bank, emphasizing the bank’s commitment to innovation and security, said, “We are thrilled to partner with NPCI to introduce the RuPay Smart Key chain – Flash Pay, offering users not just convenience but also a fortified sense of protection in every digital transaction they make.  Our drive at Federal Bank is fuelled by a relentless pursuit of innovation in payment experiences coupled with digital security."

The RuPay Smart Keychain ‘Flash Pay’ offers users the following features:

Sleek design: The streamlined and compact design of Flash Pay allows users to effortlessly carry their payment method with them, seamlessly integrating it into their daily routines.

Contactless payments: Flash Pay empowers users to make secure and convenient contactless payments at millions of merchants throughout India.

Advanced security: With built-in security measures like