PhonePe partnered with Mastercard on Tuesday to introduce tap-and-pay technology for Indian cardholders using NFC-enabled Android devices. The payment application allows customers to complete retail transactions by tapping smartphones at checkout terminals. Mastercard credit, debit, and prepaid cards issued in India can be stored on phones for contactless purchases. The system uses tokenization to protect transaction data for both physical stores and online shopping.
Deep Agrawal from PhonePe stated the feature addresses consumer demand for contactless payments through widespread NFC smartphone adoption. Ravi Datla from Mastercard emphasized India's role in advancing global digital commerce. The collaboration combines PhonePe's 618 million registered users with Mastercard's security infrastructure. Cardholders complete a one-time setup process before making payments at point-of-sale machines domestically and abroad.
Deep Agrawal from PhonePe stated the feature addresses consumer demand for contactless payments through widespread NFC smartphone adoption. Ravi Datla from Mastercard emphasized India's role in advancing global digital commerce. The collaboration combines PhonePe's 618 million registered users with Mastercard's security infrastructure. Cardholders complete a one-time setup process before making payments at point-of-sale machines domestically and abroad.
