Axis Bank announced the launch of mobile payment solution using its debit cards. The company claims that it is the first bank to provide a secure debit card-based payment service over interactive voice response (IVR).
This solution called Axis Call & Pay, is powered by Atom Technologies, a retail initiative of Financial Technologies Group. To avail themselves of this service, Axis Bank customers have to link their mobile numbers to their debit card. This can be done at an Axis Bank ATM. Once this is done, the system gives a call-back and guides them to set a six digit mPIN, which can be used during each transaction.
Manju Srivatsa, president - retail banking, Axis Bank said: "India has seen remarkable growth in its debit card market over the past few years. Customers were, however, not able to pay remotely using debit cards. Axis Call and Pay makes it very convenient for our customers to get the most out of their debit card, while on the move, in a secure manner."