.....developed RuPay Contactless specifications are open standards, interoperable and scalable and can be adopted by all card schemes.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

____developed RuPay Contactless specifications are open standards, interoperable and scalable and can be adopted by all card schemes.

A	RBI
B	NPCI
C	SBI
D	NABARD

Explanation:

Detailed explanation-1: -This antenna uses Near Field Communication (NFC) technology to establish a secure connection with contactless reader to transmit payment related data. Hence, contactless card need not to be in contact with the reader, a simple tap on the reader will initiate a transaction. 3. Why should I use RuPay Contactless card?

Detailed explanation-2: -RuPay is a product of NPCI, the umbrella organisation that powers retail payments in the country. The provision under the Payment and Settlement Systems Act, 2007, empowered the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) to create a secure electronic payment and settlement system in India.

Detailed explanation-3: -Pragnyat Lalwani, Director, Seshaasai said, “We are honored to be the Technology Solution Partner for this initiative by NPCI & YES BANK.

Detailed explanation-4: -Mumbai, 29 August 2022: ICICI Bank today announced its partnership with National Payments Corporation of India (NPCI) to launch a range of credit cards on RuPay, the indigenous payments network.

There is 1 question to complete.