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.
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HQ of Fino Payments Bank Ltd: Mumbai
MD and CEO of Fino Payments Bank Ltd: Rishi Gupta