One Nation One Card: Under the scheme, Indian company RuPay issued contactless debit and credit cards. With the help of these cards, you can easily pay from public transport to shopping malls. At the same time, Reserve Bank of India (RBI) Governor Shaktikanta Das made a big change in the contactless card payment rule on Friday. Under which, now you can easily make a payment of up to 5 thousand rupees from contactless debit and credit cards without any PIN. This facility will be applicable across the country from 1 January 2021. Also Read – Lakshmi Vilas Bank: 94 year old bank with 20 lakh customers closed from today, what will be the impact, know
Tell you that till now only maximum 2 thousand rupees could be paid without PIN without contactless debit and credit cards. This card is like a smart card, which also runs in the Delhi Metro, which you recharge and can travel in the metro. Now all the banks of the country, RuPay, who will issue new debit and credit cards, will have the National Common Mobility Card feature. It will work like any other wallet. Also Read – RBI’s new rule, debit-credit card holders will not be able to do online transactions from today!
With the help of this technology, the card holder does not need to swipe for the transaction. Point of sale (POS) is paid when the card is attached to the machine. Two technologies are used in contactless credit cards – ‘Near Field Communication’ and ‘Radio Frequency Identification’ (RFID). When such a card is brought to a card machine equipped with this technology, the payment is made automatically.
If the card is kept in the range of 2 to 5 centimeters of the machine, payment can be made. This does not require inserting the card into a machine or swiping it. Neither PIN or OTP is required. The maximum limit for contactless payment is Rs 2,000. Five contactless transactions can be done in a day. For payment of more than this amount, PIN or OTP is required. But as per RBI rules, from January 1, the maximum limit of contactless payment will be Rs 5 thousand. Also Read – Finance Ministry’s big decision, these two ‘Method of Payment’ will be important for digital transactions