City Union Bank launches contactless CUB Easy Pay debit card

Tags: Economics/Business

Kumbakonam based private bank City Union Bank has launched CUB Easy Pay debit card. It is a fitness watch which will have the feature of a debit card.

•  It has been launched in association with smart-tech-enabled preventive healthcare platform GOQii and National Payment Corporation of India (NPCI).
•  It is a contact less card which means that the customer has to just hold the wrist watch in front of the Point of Sale Terminal (PoS) for payment purposes just like cards and the payment will be done .
• For payment above Rs 5000 use of PIN is mandatory as per RBI guidelines.
• The contactless cards work on Near Field Communication (NFC) technology.
• This is the second such product launched by the bank after it launched RuPay on- the- go contactless wearable keychains for its debit customer in December 2021.
• Headquarters of City Union Bank: Kumbakonam, Tamil Nadu