South Indian Bank introduces RuPay SIB Paytag

Core Viewpoint - South Indian Bank has launched the RuPay Contactless SIB Paytag Sticker, an NFC-enabled payment instrument aimed at enhancing the payment experience for customers through speed, security, and convenience [1][4]. Group 1: Product Features - The SIB Paytag Sticker is a compact NFC-enabled sticker that can be attached to personal items like mobile phones, wallets, or cardholders, allowing for quick tap-and-pay transactions at contactless POS terminals without needing a physical debit card [2]. - The sticker supports contactless payments for transactions up to ₹5,000 without requiring a PIN, while transactions above this amount necessitate PIN authentication for added security [3]. - Customers can also use the SIB Paytag Sticker for online e-commerce payments, with secure access to card details through the SIB Mirror+ app [3]. Group 2: Market Context - The launch of the RuPay Contactless SIB Paytag Sticker reflects the growing trend of digital payments, which are transforming customer transaction methods in daily life [4].