National Payments Corporation of India (NPCI) has partnered with YES BANK to launch the RuPay On-the-Go contactless payments solutions, in association with FinTech infrastructure partner-Neokred and manufacturing partner- Seshaasai. The RuPay On-the-Go contactless solution is mainly a wearable payment solution, launched to enable customers to make small and large value transactions from accessories that they wear every day.
The solution would eliminate the need to carry a physical card, and customers can use the solution at RuPay contactless-enabled PoS at retail outlets and pay up to Rs 5,000 without the need of PIN. For payments above INR 5000, customers need to tap, followed by their PIN. For Online transactions, the BHIM YES PAY app provides a virtual RuPay card to the customers that can be used for digital and e-commerce transactions.
