MSwipe has enabled Samsung Pay across its POS 200,000 terminals which will enable contactless NFC "tap and go" payments. To make payments, Samsung Pay customers will need to choose their debit or credit card and scan their fingerprint and tap their device on an Mswipe terminal to complete the purchase. Note that all MSwipe terminals have NFC enabled on them and CEO Manish Patel had told MediaNama in a number of conversations that the company is betting on NFC payments. "At Mswipe, we have anticipated this and built terminals that are future-ready so that our merchants can accept payments seamlessly, even when there is a technology shift," Patel said in a statement. The adoption of NFC payments has been slow in India due to the lack of devices which can accept the corresponding cards. Last year, card network Visa said it issued over one million NFC contactless cards and has over 100,000 merchant locations which can accept NFC cards and transactions. In May 2016, State Bank of India (SBI), the country’s largest lender, said that it has issued 30,000 NFC terminals. ICICI Bank says that it has NFC terminals in over 991 locations in Hyderabad, Mumbai and Gurgaon. But NFC payments have gotten a push from the Reserve Bank of India (RBI) and eased the norms for payments made using NFC cards and said that transactions below Rs 2,000 will not need an additional factor of authentication i.e. entering a PIN or signing transaction receipts. However, it's worth remembering Samsung Pay also features MST (Magnetic Secure…
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