‘SafePay’ Contactless Debit Card Facility—IDFC First Bank

Published on September 26, 2020
Current Context: IDFC First Bank will be launching ‘SafePay’, a contactless debit card facility.
‘SafePay’ Contactless Debit Card Facility—IDFC First Bank
  • Under this digital facility, the user will be able to perform contactless debit card payments by waving a smartphone against a Near Field Communication (NFC)-Enabled POS Terminal.
  • The NFC-enabled POS facility is encorporated in the IDFC First Mobile App. 
  • The operation and features of SafePay are verified by Visa. The facility is developed in order to maintain social distancing norms as there will be no need to handle the card to a merchant for payment. 
  • SafePay allows the contactless payments for upto Rs 2000 per transactions or upto a limit of Rs 20,000 per day. 
  • Static Part: 
    • HQ of IDFC First Bank: Mumbai
    • MD and CEO of IDFC First Bank: V Vaidyanathan

Question: 

Q.1 Which bank launched ‘SafePay’ Contactless Debit Card Facility?
a. Lakshmi Vilas Bank
b. IDFC First Bank
c. ICICI Bank 
d. Karnataka Bank

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