About Credit and Debit Cards

ICICI Bank has recently launched the country’s first contactless credit and debit cards.

Now you might be thinking about what a contactless card is? A Contactless card is one that uses the NFC (Near-field communication Technology), enabling individuals to make a payment just by tapping or waving the card near the merchants’ terminals in lieu of swiping them. NFC is a technology that enables devices to use radio-frequency identification to establish contact while in proximity. It can be likened to Bluetooth or Wi-Fi. It allows communication between NFC-enabled objects at a minimum distance of 4 centimetres.

About Credit and Debit cards

So far, the bank has introduced these cards in 3 cities i.e. Mumbai, Gurgaon and Hyderabad and has installed 1200 PoS machines capable of accepting contactless payments in these cities.

The bank has launched two cards with the new technology – the Coral contactless credit cards and the Expressions wave debit cards – and both can also be used as regular cards at all merchant terminals (in other cities), the bank said.

Read Other Related Articles

Repay Your Education Loan Education Loan Factors
Overseas Education
Getting the maximum possible amount for a Student Loan
Tips for Education Loans
Menu