As India approaches the end of its lockdown, the country continues to adapt to strict regulations around movement and social distancing. And minimising contact to reduce exposure to the virus is a top priority. Fortunately, technology is rising to meet this challenge, and one of the latest offerings being adopted is contactless payments.
Contactless payments can curb unnecessary contact when it comes to publicly shared devices like checkout counters, POS machines, ATMs and more. With a tap of a card, smartwatch or smartphone, this payment method offers better safety, faster checkout and more control over your physical proximity. Over the last 18 to 20 months, contactless and digital payments have grown 15X in the country. With so many benefits, especially during the current situation, it is not surprising that its popularity has expedited. So, what makes contactless payments the latest trend?
1. Speed
Contactless payments offer speed and efficiency for everyday transactions. It’s estimated that you can complete a transaction within 15 seconds; that is twice as fast as standard cards and three times faster than cash payments. Since you spend less time at the cash register, it can reduce the time that you would be at risk while shopping. With contactless HDFC Bank Cards, all you have to do is place the card over the POS machine to complete the payment. You don’t need a signature or a pin for transactions below ₹5,000.
2. Security
When it comes to digital payments, security is a primary concern. Encryption, closed-loop system and dynamic data technologies ensure the safety of your money in contactless payments. This makes it more secure than several other forms of payment. Additionally, with multi-layer security in place, it ensures that you are safe from fraudulent or unauthorised transactions. A contactless payment terminal can only process one transaction at a time. So, there’s no possibility of duplicate payments or cross payments.
3. Improved customer experience
The payment process while shopping can impact customer experience to quite an extent. Standing in a long queue while the cashier searches for change or having to deal with a slow POS machine can be frustrating. These situations are eliminated with contactless payments as they are quick and easy, all the while letting you follow social distancing norms.
This tap and go transaction is convenient, simple, and less strenuous. It is also safe as you don’t have to worry about someone watching you enter your PIN.
4. Physical distance
Contactless cards and digital banking allow you to avoid physical contact with other people, which is especially important during the ongoing COVID-19 outbreak. You don’t have to touch a machine that others have used or hand your card to someone else and expose yourself to risks. Instead, you can make all payments on your own by simply tapping your contactless card to the machine.
Contactless Debit and Credit Cards allow you to make online transactions with ease. With numerous digital banking modes available, such as MobileBanking and UPI (Unified Payments Interface), you can link your card to your preferred e-wallet to make payments with just a few taps on your smartphone. Alternately, you can use NetBanking to complete payments.
Pay the easy way
To make the most of these benefits, HDFC Bank has introduced Contactless Cards for debit or credit, whichever suits your needs. Along with the above benefits, you can also receive cashback and reward points every time you use these cards. Applying for a contactless card is easy, and you can do it from the HDFC Bank website or through the MobileBanking app.
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