India’s First Contact-less Credit Card from Punjab National Bank Launched

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Written By Mani Karthik

I share everything I learned in life on this blog. From personal finance to spirituality and everything in between. 

Soon, swiping credit cards will make you look uncool. Or, that’s what Punjab National Bank’s new contact-less credit card promises.

This new credit card, which has been named PNB Wave N Pay –Contactless Card, was launched by Usha Ananthasubramanian, Managing Director & Chief Executive Officer, Punjab National Bank in Delhi.

How does it work?

We don’t have details of all the technology behind it, but it is told that you don’t have to swipe anymore. Instead, just by showing the credit card close to kiosks, you can make transactions up to Rs.2000 in one go!

My assumption is that this is a NFC (Near Field Communication) enabled card, that will enable you to do transactions just by showing the card in proximity to the kiosk.


And of course, there are disadvantages to this. In order for NFC enabled credit cards to function, you need NFC enabled kiosks.(Like Square) This will take a long time to be enabled. Perhaps it will be made available in certain stores like Starbucks etc who can afford the initial investment.

Security issues – Obviously there are going to be security issues like any other card. If there are skimming devices etc, there are chances that your credit card details can be obtained by other people. But it’s not easy. What’s going to be crucial is how Punjab National Bank will deal with such fraud cases. Whether they will help customers in such situations or not.

But unless we confirm whether this credit card is NFC enabled or not, I cannot comment anymore. All these statements would be just a guess. Let’s watch and watch what this contact-less credit card will actually be like.