1. The Citi ‘Tap and Pay’ Card
– Was seeing a program on TV and saw this come up- a credit card that can be paid by simply tapping your mobile phone at the checkout point. Currently launched only in Bengaluru (Bangalore) two months ago, one needs a Citibank credit card, a Nokia phone and Vodafone number.
How does Citi Tap and Pay work?*
Citi Tap and Pay works on a cutting-edge new technology called NFC: Near Field Communication. NFC is a wireless communication technology that works on mobile phones, it allows data transfer between 2 NFC enabled devices, and even allows financial transactions like payments. Citi Tap and Pay complies with the latest security standards. The wallet on your phone is secured by a 4-digit password – so only you can use it to make payments. Unlike conventional Credit Card transactions, where you hand over your Card to a person at a retail counter, with Citi Tap and Pay you hold on to your Credit Card at all times, as it has been transferred to your mobile phone.
(This info was taken from the Citibank site)