New Delhi, 30 September (IANS). Amid the increasing popularity among consumers of contactless payment through smartphones, PhonePe and MasterCard have announced a partnership to launch a special feature for master card card holders in India.
This new feature enables MasterCard card holders to pay in the store by tapping your NFC-able smartphone on payment terminals using PhonePe app.
This cooperation is designed to provide a safe and easy ‘tap and pay’ experience at the physical retail shop, as well as supports tokening e-commerce transactions through all NFC-SAC android smartphones.
Cardholders can easily save their mastercard credits, debit and prepaid cards issued in India and enjoy all the benefits of card-based payments.
By connecting the global expertise of the mastercard in Tokanization with a huge base of the 618 million registered users of PhonePe, the launch expands access to digital payments at India and internationally. This confirms the shared commitment of the two companies to strengthen the country’s rapidly growing digital economy.
PhonePe’s Payments Head, Deep Aggarwal said, “We are happy to collaborate with the master card to bring device-based toknization for millions of phonpee users. With the growing access of NFC-competent smartphones and using our cards, with the increasing consumer choice of ‘tap and pay’, this functionality is easily connected.”
Aggarwal further said, “It enhances both convenience and security for the users and enables contactless payment and safe online transactions at the physical shop through PhonePe app. We consider this cooperation as another important step towards providing world -class payments to PhonePe users across India and during foreign trips.”
MasterCard card holders can now avail many powerful features including ‘safe tap and pay’ in-store payment to make contactless payments on NFC-SAC terminals in India and abroad by using PhonePe app on Android smartphone.
It provides safe online shopping experience. Through the PhonePe app, people can shop safely with the MasterCard card, every transaction is tonated and connected to your device, causing the stolen credentials to become useless elsewhere.
Saving the card just once can make it possible to fast and safe checkout every time, which is based on the global expertise of MasterCard in Tokanization and the spontaneous users of PhonePe.
Ravi Datla, Senior Vice President of Product and Solutions in South Asia of MasterCard, said that MasterCard has always believed in increasing innovation. This collaboration with PhonePe is an important step towards broadening the access to digital payments by expanding device-based toknization, which gives the mastercard card holders the right to do especially ‘tap and pay’ especially at merchant outlets both in the country and abroad. India plays an important role in determining the pace of digital commerce globally, and MasterCard is proud to support this speed with solutions that make the transaction smart and safe. “
Users can safely add their credit and debit cards to the PhonePe app through a simple process. Once the card is tonated and saved, they can pay their smartphone on any POS machine, pay without any interruption and make online shopping.
This new feature will be available for master card card holders in a phased manner on the PhonePe app.
-IANS
ABS/
