New Delhi: The Reserve Bank of India (RBI) on Friday asked card companies to enable contact-less payment options for all transactions in a bid to make them safer amid the coronavirus crisis.
The option will be available for transactions above Rs 2,000 but would require entering the pin.
Tap-and-go transactions work with radio frequency technology and do not require physical contact with the card swipe machine.
The whole process of migration to the new system might take 3 months for some banks, a RBI official told ET Tech.
Also Read: New Debit & Credit Cards Rules In India