Members of American Express Prepaid Cards, Virtual Accounts, Corporate Purchasing and Corporate Meeting Cards cannot avail the service, reports NDTV.
Available through the company’s mobile banking application, Amex Pay will allow users to carry out contactless money transfer and Bharat QR code-based payments.
The ‘tap-and-pay’ transactions are reported to be free of any service charges and are eligible for the same rewards and credit point benefits as on a regular AmEx card payment.
According to the report, the mobile payment service also works offline but only for up to eight successive transactions.
Customers are required to register their card details in the app and can do so on up to five smartphones. A single device will accept six AmEx banking cards for mobile transactions using Amex Pay. The transactions are subject to authorisation through a PIN, password or a fingerprint scan.
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