Federal Bank launches RuPay smart key chain – Flash Pay for contactless payments

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Federal Bank on Friday announced the launch of NCMC-enabled RuPay Smart key chain – “Flash Pay”. This smart keychain, it said, can be used during transit at NCMC-enabled metro stations without having to stand in a queue line to buy tickets or cards pertaining to respective metro stations. “Customers can perform the contactless payment transaction (without PIN) up to Rs 5000 and will require PIN authentication above it, with a per day limit of Rs 1,00,000 at any POS terminal,” the bank said in a statement.

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Flash Pay offers users a compact solution for seamless transactions on the go. The Flash Pay allows users to make secure payments with just a tap, eliminating the need for physical cards or cash.

Shalini Warrier, Executive Director at Federal Bank, 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 fueled by a relentless pursuit of innovation in payment experiences coupled with digital security.”

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With the RuPay Smart Keychain Flash Pay, users can enjoy the following features:

• Compact Design: The sleek and compact design of Flash Pay ensures that customers can carry their payment method wherever they go effortlessly integrating into their daily lives.

• Contactless Payments: Flash Pay enables users to make secure and contactless payments at millions of merchants across India.

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• Enhanced Security: Built- in security features such as tokenization and encryption ensure that transactions made with Flash Pay are safe and secure.

• Compatibility: Flash Pay is compatible with a wide range of devices and payment terminals.

• NCMC Enabled: Flash Pay is enabled with RuPay NCMC features that customers can use during their transit at such as metro stations and all NCMC-enabled POS terminals.