Federal Bank has introduced an innovative RuPay Smart key chain called ‘Flash Pay’, which is the first of its kind in the industry. This key chain is enabled with NCMC technology and allows users to make contactless payments at NCMC-enabled metro stations without the need to wait in line to purchase specific tickets or cards for the metro stations.
Customers can make contactless transactions (up to ₹5000) without a PIN, but for amounts exceeding this limit, PIN authentication is required. The daily transaction limit at any POS terminal is set at ₹1,00,000.
‘Flash Pay’ combines advanced technology with convenience, offering users a sleek and compact solution for effortless transactions on the go. With Flash Pay, users can make secure payments with a simple tap, eliminating the need for physical cards or cash.
Shalini Warrier, Executive Director of Federal Bank, highlighted the bank’s commitment to innovation and security, stating, “We are excited to partner with NPCI to introduce the RuPay Smart Keychain – Flash Pay. This not only provides users with convenience but also ensures a strong sense of protection in every digital transaction they make. At Federal Bank, we strive for innovation in payment experiences and digital security.”
The RuPay Smart Keychain ‘Flash Pay’ offers the following features:
- The streamlined and compact design allows users to effortlessly carry their payment method with them, integrating it seamlessly into their daily routines.
- Flash Pay enables secure and convenient contactless payments at millions of merchants throughout India.
- With built-in security measures like tokenization and encryption, Flash Pay ensures safe and secure transactions, giving users peace of mind with each purchase.
- Flash Pay is adaptable to a wide range of devices and payment terminals, providing users with flexibility and convenience in their payment methods.
- Flash Pay is equipped with RuPay NCMC features, allowing customers to use it for transit at places like metro stations and all NCMC-enabled POS terminals.
How to apply for Federal Bank Flash Pay Smart key chain?
You can apply for Federal Bank Flash Pay key chain via internet banking or via branch. For more details, Dial the Pan India toll free number 1800 – 425 – 1199 Or 1800 – 420 – 1199 to avail the services of the Contact Center.
Federal Bank Flash Pay Key Chain Fees and Charges
The Joining fees is for the issuance of Smart Key chain “Flash Pay” is ₹499 (exclusive of Taxes) which will be collected within 90 days of the date of issue. The AMC will be charged on yearly basis total amounting to ₹ 199 (exclusive of taxes).
Federal Bank Flash Pay Limit
- Contactless payments up to INR 5,000/- per transaction (with a maximum of 5 transactions per day) – without PIN (Tap and Pay)
- Any contactless payment transaction above INR 5000/- will require PIN authentication with a per day limit of INR 1,00,000 at any POS terminal.
How to activate Federal Bank Flash Pay
To start using, you need to first activate your device by following 2 simple steps:
Step 1 – Set PIN for your Smart Key Chain -Flash Pay device using FedMobile, FedNet or IVR.
- Using FedMobile (Card management -Select Flash Pay –Set New PIN)
- Using FedNet (Debit Card services- Select Flash Pay -Set New PIN)
- Activation using IVR calling (Dial 0484- 6716700) & follow the instructions.
Step 2 – Enable contactless usage via Net Banking (FedNet)/ Mobile Banking (FedMobile)/IVR (Please dial 0484-6716700)/ visit your Branch.
- FedMobile (Card Management-Select Flash pay- -Enable/Disable Card)
- FedNet (Debit Card services- Select Flash pay – Enable/Disable Card)
- Through IVR calling (Dial 0484- 6716700) & follow the instructions.
- Visit your Nearest Federal Bank Branches.
Once PIN is set, you can start using your Flash Pay to make contactless transactions at POS terminals.
How to deactivate or block Federal Bank Flash Pay?
Flash Pay can be permanently/temporarily blocked via FedMobile, FedNet, and through branches. Please refer the below channels:
Temporary Blocking
For temporary disablement of the Flash Pay, customers can do directly through FedMobile and FedNet by switching off the NFC (contactless) or through branches.
- FedMobile- (Card Management-Select Flash Pay- Switch OFF contactless usage)
- FedNet (Debit card services- Select Flash Pay- Switch OFF contactless usage)
- Through IVR calling (Dial 0484- 6716700) & follow the instructions
Permanent Blocking
For Blocking of the Flash Pay, the available option is through FedMobile, FedNet, Contact Center and through branches. The detailed procedure is mentioned below.
- FedMobile- (Card management- Select Flash Pay – Block the card)
- FedNet (Debit card services- Select Flash Pay -Block the card)
- The customer can call the Contact centre number 1800 420 1199 and after successful verification, the flash pay (smart key chain) can be blocked.
