Pine Labs Ltd has received a patent for a tap-and-go online payment technology that allows users to complete digital transactions without entering a CVV or OTP. The system enables customers to make online payments simply by tapping their physical card on their NFC-enabled mobile phone at the checkout stage.
Amrish Rau, Chief Executive Officer, Pine Labs Ltd, announced the development on social media platform X, describing it as a “revolutionary idea for online payments”. He explained that customers shopping on any online platform, whether e-commerce or food delivery, can select the “tap to pay online” option at checkout. The phone’s NFC activates, after which the user can tap their card to complete the transaction from home.
Mr. Rau said the new method brings the familiarity of tap-and-go card payments to online checkouts, removing the need for manual entry of card details such as CVV.
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