Rohit Narnoli - Man of his Own Image!

After reading my last article on Paytm’s foray into the offline digital payment system, a friend evoked me saying, ‘like the Samsung pay or the Apple pay, how do you see the future of NFC enabled payment shaping-up in India. Moreover, will the future of NFC merely remain confined to the payment sector?’ Wikipedia defines Near-field communication or NFC as ‘a set of communication protocols that enable two electronic devices equipped with NFC chips, one of which is usually a portable device such as a smartphone, to establish communication by placing them within few centimeters of each other’. They are essentially of two types - Two-way communication & One-way communication. In addition to voice and data connectivity services, the handheld devices are being used for a range of ancillary services. In the current plot, digitizing the payment (e.g. peer-to-peer money exchange) securely and completely will lead to an excellent, hustle free customer service. The NFC is one of t...

Paytm has launched an offline payment mode called Tap Card , which is being claimed to be the India's first ‘ truly offline payment solution ’, that will allow customers to pay from their Paytm wallet within seconds. A user can scan the QR code printed on the Tap Card to transfer money at a company-authorized Point of Sale (PoS) terminal without requiring internet connectivity. The process that uses NFC technology has been introduced in a pilot mode in Chennai in collaboration with  Yeldi.com . It is also being said that the foundation on which internet-less digital payment will work, has been laid down by Tap Card. It is primarily targeted towards counting-in the non-internet users to the existing customer base. Here is a systematic working of the Offline Digital Payment – Suppose Rohit want to buy groceries from a merchant who accepts Paytm. And he is using Vodafone network whose internet service is pathetic in that area. In this scenario, Rohit will execute the belo...