ICICI Bank Launches Contactless NFC-based Mobile Payment System

India’s leading private sector bank- ICICI Bank, has now launched a new NFC-based mobile payment system enabling contactless transactions via its Pockets app. Last year, ICICI Bank had launched ‘Tap n Pay’ payment system in collaboration with Tech Mahindra where the user was required to tap an NFC tag or a mobile phone at the merchant’s PoS device for making the payments. This time the bank has launched a truly contactless payment system where the user just has to wave his/her NFC-enabled mobile phone running Android 4.4 and above for making the payment at any merchant terminal supporting NFC.