Which bank has launched a RuPay smart key chain called ‘Flash Pay’ for contactless NCMC (National Common Mobility Card) payments at enabled metro stations and PoS terminals?

Practice MCQ for SSC, UPSC, RRB Exams

A. Federal Bank A.
B. Axis Bank B.
C. Yes Bank C.
D. HDFC Bank D.

Correct Answer: A সঠিক উত্তর: A

Explanation ব্যাখ্যা

Federal Bank & NPCI partner for contactless payments Federal Bank has launched a RuPay smart key chain called ‘Flash Pay’ for contactless NCMC (National Common Mobility Card) payments at enabled metro stations and PoS terminals.
Customers can make payments up to ₹5,000 without a PIN, whereas those over ₹5,000 will require PIN authentication. The per day limit at any PoS terminal has been capped at ₹1 lakh.
‘Flash Pay’ allows users to make secure payments with just a tap, eliminating the need for physical cards or cash.
Through the ‘Flash Pay’ device, users can can make payments at millions of merchants, with built-in security features such as tokenisation and encryption to ensure that transactions are safe and secure.

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