Contactless Credit Cards!

[Sushubh]

So standard chartered sent me a replacement card that has contactless payment support. Anyone knows where I can check this feature out around Gurgaon? :extremelyhappy:

Card machines are already so expensive... It seems unlikely these would become popular around here.

 

[waterloo_sunset]

ICICI Bank Expressions Paywave NFC Card | Merchants enabled for contactless payments

 

[raj2007]

My brother received sbiINTOUCH contactless Debit card last week.
Still wondering where to use it?:angel:

 

[Deleted member 63558]

Hey @Sushubh, Congratulations mate. A little inquiry, What were the requirements of Standard Charted to have Credit Card?

 

[Sushubh]

This one is 9 years old. Yes Bank has not yet decided if I am worthy of their card. And good to see a long list of stores in Gurgaon on that icici page!

 

[Sushubh]

so retailers know about these cards and they automatically process smaller payments using nfc or you have to tell them? i have not seen a nfc machine so i have no idea if they look different from regular ones.

 

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[Deleted member 63558]

This one is 9 years old. Yes Bank has not yet decided if I am worthy of their card. And good to see a long list of stores in Gurgaon on that icici page!

Yes Bank is a good bank for CC?

 

[Sushubh]

not in a good position to say. honestly. they called me up. told me i was preapproved for a card. and then their guy comes in. pushes me to enable auto bill pay and auto payment options. and then a week later a guy lands at my place to check my 'office' even though i told the original guy that i work from home and that essentially means that there is a computer and a laptop and a phone which is basically my office. and since then it has been a while... no update on whether i was approved or rejected for the preapproved card.

 

[internetuser21]

Are these cards secure?

 

[Sushubh]

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.

 

[webie]

2000 limit is nt from stanC , it is from RBI on all contactless cards.

 

[Sushubh]

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]

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]

standard chartered has no such feature on their website. not sure if it can be done with phone support.

 

[Pankaj Singhal]

NFC limit is 2000 per transaction as per RBI rules. The one on credit cards is a different rule.