Contactless Payment Solution for Mass Transport-Fino Payments Bank & Fintech Partners

Current Context: The NFC (Near Field Communication) based Contactless Payment Solution for Mass Transit System is introduced by Fino Payments Bank Ltd and Fintech Partners.

• The NFC based Contactless Payment Solution for mass transportation will be worthy for state bus transport during this pandemic situation where social-distancing ad minimum contact is important to avoid the spread of the virus. 
• The NFC based prepaid smart card system provides contactless or tap-and-go payments enabling the cashless ticket system and also promotes digital cash usage.
• This solution can be used offline for ticket collection and customers can recharge their smart card in online as well as in offline mode. 
• Currently, the system is utilised in Maharashtra’s State Road Transport Corporation (SRTC) and will be extended to other states as well.
• To develop this contactless payment solution, Fino Payments Bank Ltd partnered with Fintech Partners like City Cash. 
• Static Part: 
• HQ of Fino Payments Bank Ltd: Mumbai
• MD and CEO of Fino Payments Bank Ltd: Rishi Gupta

Question: 

Q.1 Who among the following developed NFC based Contactless Payment Solution for Mass Transit System? 

a. Fino Payments Bank Ltd
b. Union Bank of India
c. Federal Bank
d. Bandhan Bank