Google has announced a new partnership with VISA that will enable direct card payments on the app via a Tap-to-pay feature, with support on AXIS bank and SBI cards at launch. The feature will use the tokenization method to authenticate payments made by users at NFC-enabled POS terminals and online merchants.
With Tokenization, users can safely make payments through a secure digital token attached to their phone without having to physically share their credit or debit card details. The feature will enable users to make contactless payments at over 2.5 million Visa merchant locations and over 1.5 million Bharat QR enabled merchants.
To set it up, users will have to do a one-time setup on the app where they need to enter their card details. An OTP will be sent from the bank and upon verification, the card will be added to Google Pay.
The feature will be supported on VISA cards, starting with AXIS bank and SBI. Other banks such as Kotak and more are expected to be supported soon.
Commenting on the announcement, Sajith Sivanandan, Business Head: Google Pay and NBU — India said:
We’re committed to offer the most secure payments experience to our growing base of users, and tokenization helps to replace sensitive data such as credit and debit card numbers with tokens, eliminating any chances of fraud. We are hopeful that the tokenisation feature will further encourage users to transact securely and safely in the current times, and expand merchant transactions both online and offline. We are already live for Axis and SBI Card holders with Visa payments network and are working closely with Kotak and other banking partners to further expand the adoption of card-based payments with tokenisation in India.
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