Contactless Credit Cards!

webie

Regulars
Aug 21, 2015
317
52
2000 limit is nt from stanC , it is from RBI on all contactless cards.
 

Sushubh

Administrator
[OP]
Oct 29, 2004
413,823
12,769
Gurugram
From what I read, Rbi recommendation applied to all cards not just contactless. Banks are now free to allow upto 2000 transactions without pin at pos. Customer approval is needed though.
 

waterloo_sunset

Regulars
Aug 26, 2005
907
37
New Delhi
nfc payments are restricted at Rs. 2000 in one go. and five times in one day. at least on my card. stanchart is taking liability of fraud of rs. 10000 in a day which means that they expect me to report theft/fraud on the same day as fraudulent transactions. at least that's what i got from the brochure. apart from that it is a regular card.

of course, if someone gets hold of your card, he can use it for international transactions for a much higher sum without requiring otp or pin code on regular credit cards as well.
It's always a good practice to deactivate international transactions by default and enable as and when required.
 


Sushubh

Administrator
[OP]
Oct 29, 2004
413,823
12,769
Gurugram
standard chartered has no such feature on their website. not sure if it can be done with phone support.
 

raj2007

Chennai
Regulars
Feb 27, 2009
2,464
125
Chennai
From what I read, Rbi recommendation applied to all cards not just contactless. Banks are now free to allow upto 2000 transactions without pin at pos. Customer approval is needed though.
Approval from customer??? Apart from PIN
 


Sushubh

Administrator
[OP]
Oct 29, 2004
413,823
12,769
Gurugram
finally found a machine with nfc support here in gurgaon. got printer serviced and the service center had the icici machine recently delivered to them. i was incidentally the first guy with nfc card as well. worked fine. he initiated payment, entered amount, the machine asked for a card to be swiped/inserted/touched. we touched the top section and it was detected just fine. no pin was asked as the amount was below 2000 and it was all done. the guy was impressed. i was impressed. more places need to get this machine :D
 

webie

Regulars
Aug 21, 2015
317
52
I used it too just recently at dlf phase 3 gurgaon, the payment was for 280. I saw the logo of contactless card and the terminal was of axis bank. I didn't touch or swipe or anything , just put the card over the machine (don't even have to touch, and machine detected the card, asked the amount and done! It was a great and awsm feeling and merchant was shocked. He was abt to tell me not to do it this way as card always have to be swipped inside or if chip then put inside. x'D
 

Sushubh

Administrator
[OP]
Oct 29, 2004
413,823
12,769
Gurugram
my new yes bank card also has nfc. and i found that several local stores have machines that support nfc payments. i have to tell them though. they have seen customers paying using their phones. but not many have idea about nfc cards.
 

raj2007

Chennai
Regulars
Feb 27, 2009
2,464
125
Chennai
Nice feature..but..what if a person loses wallet with 5 nfc cards? He might lose 2000*5 if someone misuses it.
Even though its a small amount for some..its a lot for many.