ICICI bank has recently launched a whole new concept of contactless mobile payment where the will be able to make payments buy just waving their cell phones near a contactless merchant terminal. Through this it will be the country’s first contact less mobile payment solution that will allow the user to credit or debit in the stores with contact less payments near and NFC enabled merchant terminals.
In a statement Rajiv Sabarwal who is the executive director of ICICI Bank stated that “ we are delightful to introduce this new concept in the country by using smartphones for cashless payments and therefore no one will be required to carry cash for debit or credit cards . It is also a big game changer in the Indian payment industry as it will transform the customer’s smartphone into virtual wallet.”
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