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ICICI Tech Mahindra Launch Tap n Pay NFC Enabled Payment Service

One of the largest private sector lending financial institution – ICICI Bank has collaborated with Tech Mahindra to introduce “Tap n Pay” payment service, which is based on NFC also called Near Field Communications technology. This will enable the customers to make their payments over the counter without using paper money.

This facility can be used for the merchants payments by simply tapping any mobile phone which is NFC enabled. You can also tag on specific merchant’s counter. This Tap n Pay” payment service is close ended and can be used by close segment of people and is not universal like plastic cards. To use the Facilities of Tap-n-Pay Service the merchant shall have to first register for this particular service and going forward enroll the customers so that they can use this service.

The account of this facility has been introduced in association with company Tech Mahindra. One of the biggest advantage is that this will reduce your dependence on cash. Any individual who has/doesn’t have ICICI bank account can use the Facilities of Tap-n-Pay Service. The synergies amid these two partners shall bring novel payment ecosystem which will be in parallel to and in harmony with the pre-existing payment system in India.

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