Fintech
3 FinTechs Promoting Contactless Payment Technology in India
By Gloria Mattia
Today
- Cashless payments
- Contactless payments
- Digital payments Digital transactions
Contactless payments are emerging as a key force driving innovation in India’s FinTech space, restructuring the way financial transactions are conducted across the country.
The contactless payments market in India is booming, thanks to technological advances, changing consumer habits and supportive government policies. The COVID-19 pandemic has given a major boost to this trend as people have turned to safer and faster payment methods.
Technologies like Near Field Communication (NFC) and Unified Payments Interface (UPI) have transformed the way Indians manage their finances, making transactions faster and more secure. The government’s Digital India initiative, along with support from the Reserve Bank of India (RBI), has further strengthened the market.
FinTech companies are capitalizing on this momentum to introduce solutions, ranging from NFC-enabled mobile wallets to QR code-based payment platforms. This shift is simplifying the payment process for consumers and allowing businesses, especially small merchants, to embrace digital transactions with greater ease. With the rise of contactless payments, FinTech companies are reshaping India’s financial landscape, offering scalable, user-centric solutions that meet the diverse needs of a rapidly digitizing economy.
Below are 3 FinTech platforms offering contactless payments in India:
TapTap is an innovative Indian payments startup, prepaid card issuer, wearable technology developer and program manager. It’s the latest offering from the innovators at BillBox. TapTap’s mission is to integrate a new generation of reliable, secure and robust FinTech platforms that are in sync with the needs of Gen Z and create innovative wearable digital payment solutions for brands and businesses.
Seshaasai is a privately held company focused on secure and versatile technology solutions. Seshaasai, committed to developing high-quality technology solutions such as omni-channel communication systems and intelligent payment solutions, Seshaasai has been actively leading India’s digital evolution. From transactions to identification, its proprietary software programs prioritize data security. From financial and healthcare institutions to education and government, Seshaasai turns business challenges into competitive opportunities.
Transcorp is a BSE listed and RBI regulated entity with prepaid payment instruments (wallets/cards) and authorized dealer Cat. 2 licenses (Forex). Transcorp’s operations include money exchange, inward remittances, car rental services and tour and travel arrangements. Since its inception, Transcorp International Ltd. has had a technology and global perspective that ensures constant diversification and growth. Transcorp’s operations include payment cards and UPI wallets, money exchange, inward remittances and travel services.
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