Fibank offers customers to use Google Pay with their Visa cards
By Megha Bhattacharya
Fibank (First Investment Bank) now offers its customers the opportunity to digitize their Visa debit or credit cards using the Google Pay service. With this secure method of payment, they can make contactless payments at points of sale (POS) in physical stores, make in-app purchases using Android apps, or card payments at online merchants. The service is available for Android devices and desktop computers and can be used in many browsers. Adding a card to Google Pay only takes a few minutes.
Mobile devices must be running Android version Lollipop 5.0 or higher and have Google Play Services; for making contactless payments in retail outlets they also need to be NFC-enabled. Paying is as simple as unlocking your NFC-enabled smartphone and holding it up to POS contactless reader. The service is available wherever the Google Pay symbol or contactless payment symbol is displayed.
Fibank’s Google Pay service is using Visa’s tokenisation technology. This technology replaces sensitive payment account information found on payment cards, such as the 16-digit account number, expiration date and security code, with a unique digital identifier “token” that can be used to process payments without exposing actual account details.
Recently, Fibank offered contactless payments using the Fitbit Pay service and has also upgraded the offer by also providing customers with the convenience to use their Mastercard cards issued by Fibank. The bank, Fitbit and Visa also teamed up to allow customers to make payments at points of sale (POS) locations that support contactless payment technology without the need to take their card out. Fitbit Pay will allow customers to add their Fibank issued Visa cards to their compatible Fitbit wearable devices.
IBSi Daily News Analysis
October 03, 2023
Digital Identity Verification checks will surpass 70bn by 2024, study showsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage