PhonePe introduces contactless tap payments in India: How to use
What's the story
PhonePe and Mastercard have teamed up to launch a new feature called Tap & Pay. The service lets Mastercard cardholders make contactless payments using their smartphones in India and abroad. The collaboration combines Mastercard's tokenization expertize with PhonePe's massive user base of 618 million, expanding access to digital payments in India and internationally.
Feature details
Tap & Pay offers secure payment experience
The Tap & Pay feature allows users to make secure, frictionless payments both offline and online. By saving their Mastercard credit, debit, or prepaid cards issued in India on their NFC-enabled Android smartphones through the PhonePe app, cardholders can tap at in-store payment terminals for quick transactions. This device-based tokenization ties each transaction to the user's smartphone, enhancing security and preventing fraud.
Expert insights
Mastercard and PhonePe highlight benefits of Tap & Pay
Deep Agrawal, Head of Payments at PhonePe, emphasized the convenience and security of the new feature. He said, "With rising NFC smartphone adoption and growing consumer preference for Tap & Pay, this feature combines convenience and security." Ravi Datla from Mastercard also stressed on the importance of this collaboration in broadening digital payments through device-based tokenization.
User guide
How to use Tap & Pay feature
To use the Tap & Pay feature, users need to add their Mastercard cards on the PhonePe app through a one-time process. After tokenization, payments can be made by selecting the card and tapping the smartphone on any PoS machine or shopping online. The feature will be rolled out in phases for Mastercard cardholders using the PhonePe app.