The keychain supports fast and convenient payments, with users simply having to bring their keychain close to the retailer’s PoS
City Union Bank (CUB) in collaboration with National Payments Corporation of India (NPCI) and its manufacturing partner Seshaasai announced the launch of RuPay On-the-Go contactless wearable keychain for its Debit card customers. CUB is launching this payment mode to enable customers to make Payments on the Go.
The solution allows the bank’s customers to carry payment cards on their keychains, making for fast and convenient payments upto INR 5000 in all Rupay enabled Point of sale devices (PoS) without entering a PIN. Customers would be required to hold the keychain in front of the PoS devices during payment similar to tapping the card on PoS. For payments above INR 5000, customers need to tap, followed by their PIN. Currently, the keychain will be linked to the Operative account of the customers. However, as part of the second phase of the launch, CUB is planning to integrate the wearables with Prepaid/Credit cards to serve non-CUB customers as well.
CUB has always been at the forefront of advanced technology solutions to meet various transactional needs of customers. CUB has also been issuing contactless cards and the usage of these cards boomed during the pandemic. Tap, pay, go payments is also a growing trend since the transaction can be completed quickly and fully secure at the counters/merchant outlets where there is a queue system.
Dr. N. Kamakodi, MD & CEO of City Union Bank said, “City Union Bank is delighted to associate with NPCI to launch our “Pay on the Go” Key Chain solution. This Contactless Wearable Keychain will be part of the daily lifestyle and enable customers to Tap and make cashless payments securely. This would increase digital payment behavior among customers especially the younger generation and students which enables faster check out and less waiting in queue with features to set the spending limit, enable/disable on the usage through Netbanking and CUB “All in one Mobile APP”.
