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PhonePe and Mastercard Enable NFC Tap-and-Pay

2 October 20251 min read
BANKING & FINANCEPhonePe andMastercard EnableNFC Tap-and-Pay2 October 2025safalsetu.com

Why in the news

PhonePe teamed up with Mastercard to bring contactless phone payments to Mastercard holders, covering both shop counters and online checkouts.

Key facts

  • Tap-and-pay: a cardholder holds an NFC-enabled phone near a compatible terminal to finish an in-store purchase.
  • Tokenised e-commerce payments work on NFC-capable Android smartphones.
  • Cards covered: credit, debit and prepaid Mastercards can be saved on the phone.
  • Partners: the fintech firm PhonePe and Mastercard.

About the feature

The idea is seamless payment: the phone stands in for the physical card at the terminal, and the same saved cards serve online purchases through tokenisation.

Exam angle

  • Companies involved: PhonePe and Mastercard.
  • Technology terms: NFC, tap-and-pay, tokenised transactions.
  • Online tokenised payments are supported on NFC-capable Android smartphones.

Test yourself

1. Which technology lets Mastercard holders pay in stores under the PhonePe–Mastercard feature?

Cardholders tap an NFC-enabled smartphone on payment terminals.

2. Online tokenised payments under the PhonePe–Mastercard feature are supported on which phones?

The notes say tokenised e-commerce works on NFC-capable Android smartphones.

3. Which cards can be saved on phones in the PhonePe–Mastercard tap-and-pay feature?

Mastercard credit, debit and prepaid cards are supported.

This topic is part of Daily Current Affairs 1 October 2025 (15 topics).

All topics of the dayDay quizOctober 2025

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