Mumbai: Federal Bank announced the launch of the ground-breaking, NCMC-enabled RuPay Smart key chain – “Flash Pay”, a first of its kind in the industry. This smart keychain can be used during transit at NCMC -enabled metro stations without having to stand in queue line to buy tickets or cards pertaining to respective metro stations. Customers can perform the contactless payment transaction (without PIN) up to Rs 5000 and will require PIN authentication above it, with a per day limit of Rs 1,00,000 at any POS terminal.

 “Flash Pay” combines cutting-edge technology with unparalleled convenience, offering users a compact and stylish solutions for seamless transactions on the go. The Flash Pay allows users to make secure payments with just a tap, eliminating the need for physical cards or cash.

Shalini Warrier, Executive Director at Federal Bank, emphasizing the Bank’s commitment to innovation and security, said, “We are thrilled to partner with NPCI to introduce the RuPay Smart Key chain – Flash Pay, offering users not just convenience but also a fortified sense of protection in every digital transaction they make.  Our drive at Federal Bank is fueled by a relentless pursuit of innovation in payment experiences coupled with digital security.”

With the RuPay Smart Keychain ‘Flash Pay’, users can enjoy the following features:

• Compact Design: The sleek and compact design of Flash Pay ensures that customers can carry their payment method wherever they go effortlessly integrating into their daily lives.

• Contactless Payments: Flash Pay enables users to make secure and convenient contactless payments at millions of merchants across India,

• Enhanced Security: Built- in security features such as tokenization and encryption ensure that transactions made with Flash Pay are safe and secure, giving users peace of mind with every purchase.

• Compatibility: Flash Pay is compatible with a wide range of devices and payment terminals, providing users with flexibility and convenience in their payment options.

• NCMC Enabled: Flash Pay is enabled with RuPay NCMC features that customer can use during their transit at such as metro station and all NCMC- enabled POS terminals.