Latest current affairs · 23–24 Sep
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PhonePe and Mastercard Launch Tap-and-Pay Feature

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RBI Grade BNABARD ESISEBI
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Source: BS

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Context:

Fintech giant PhonePe and Mastercard have introduced a new feature allowing Mastercard cardholders to make in-store transactions via tap-and-pay using NFC-enabled smartphones.

Key Details:

  • Mastercard users can tap their smartphones at NFC-enabled payment terminals to complete purchases.
  • The feature also supports tokenised e-commerce transactions on NFC-capable Android smartphones.
  • Cardholders can save their Mastercard credit, debit, and prepaid cards on their smartphones for seamless payments.
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