Until now, card users could use an RFID-enabled card (ones with a wave or field-like icon on them) to make contactless payments only up to Rs 2,000. In the wake of the Covid-19 pandemic, the Reserve Bank of India (RBI) recently wrote to the country’s payment networks—Visa, Mastercard, and the National Payments Corporation of India—asking them to enable contactless payments for purchases of any amount.
This has set the stage for the usage of these cards to grow. Experts hold conflicting views about whether contactless cards are riskier than contact cards. “These ...
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First Published: Fri, May 08 2020. 01:53 IST
