Nabil Bank launches contactless ‘tap and pay’ payment system

  • Market Watch

Mar 7, 2019-

Nabil Bank has launched the contactless (near field communication) based payment system, a convenient way of payment by using a chip based card and acquiring platform, along with 3D Secure enabled e-commerce services. The bank said in a press statement that contactless is “tap and pay”—a very convenient way of payment, as customers can use their card at contactless enabled POS terminals without inserting cards. “Since we have launched EMV based cards and POS, it has brought significant benefits where it has been implemented, demonstrating impressive levels of fraud reduction, as well as providing a technology platform that supports innovation and value-added services,” said Anil Keshary Shah, CEO of Nabil Bank. “In addition, contactless technology enables the best possible consumer payment experience and provides an opportunity to grow card usage by displacing cash transactions.”

Published: 07-03-2019 12:23

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